Property profile

840-908 Washington St Peoria, IL 61602

OFF-MARKET
Warehouses
55,632 SF 0.62 ac lot
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Property summary

AI-generated overview

This exceptional redevelopment opportunity encompasses two buildings totaling 55,632 square feet on a 0.62-acre lot in Peoria, Illinois' Warehouse District. The property is zoned WH and offers significant potential for adaptive reuse. One building, located at 840 SW Washington, is a single-story warehouse featuring 15-foot ceilings and a 14 x 12 overhead door. The second building, situated at 908 SW Washington, is a five-story structure encompassing 50,760 square feet, including a basement and lower level. The upper four floors provide expansive open space with exposed brick and timber, presenting a unique architectural character. The asking price for this multi-tenant property is $799,000, translating to a price per square foot of $14.36. This prime location in the Warehouse District offers easy access to Peoria's central business district and major transportation routes. The property's size, unique architectural features, and desirable location make it an attractive investment for developers seeking a high-impact project. The substantial square footage and flexible zoning provide ample opportunity for a variety of commercial uses. This is a rare chance to acquire a significant property in a thriving urban area.

Property profile

Verified
Property type Warehouses
Total area 55,632 SF
Lot 0.62 ac (27,007 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

840-908 Washington St Peoria, IL 61602
Peoria metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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