Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1351 Garfield Ave Bartonville, IL 61607
    Property profile & analytics

    1351 Garfield Ave Bartonville, IL 61607

    View on Map
    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1351 Garfield Ave

    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional 2,967 square foot retail space, located at 1351 Garfield Avenue in Bartonville, Illinois (zip code 61607), presents a fantastic opportunity for a new business. The property is zoned C3 and features a single tenant occupancy within a thriving shopping center. The building boasts a total of one suite. The property's previous occupant was Good Tequilas Mexican Restaurant, and fixtures and equipment (FF&E) are included in the lease, although furniture has been removed. This prime location offers excellent visibility and accessibility, situated within the Bartonville Square/Kroger Shopping Center. The property benefits from strong co-tenancy with established businesses such as Kroger, Q Nails, Pizza Hut, McDonald's, and Big Mike's Donuts, ensuring high foot traffic and a vibrant commercial environment. This is an ideal space for a restaurant or other retail establishment seeking a well-established and convenient location in a bustling shopping center. The APN is 17-26-182-029. This is a single-tenant property offering immediate occupancy. Inquire today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Bartonville
    County
    Peoria
    State
    Illinois
    Longitude
    -89.6744
    Latitude
    40.6461

    Comparable in this City

    • Value Estimation by Request
      9,450 SF

      1113 Garfield Ave

      Office Spaces • 9,450 SF
      1113 Garfield Ave, Bartonville, IL 61607
      View Details
    • Value Estimation by Request
      6.27 Acres

      6314 Fauber Rd

      Farms • 6.27 Acres
      6314 Fauber Rd, Bartonville, IL 61607
      View Details
    • Value Estimation by Request

      Smithville Rd

      COMMERCIAL (GENERAL)
      Smithville Rd, Peoria, IL 61607
      View Details
    • Value Estimation by Request

      306 Harrison St

      COMMERCIAL (GENERAL)
      306 Harrison St, Bartonville, IL 61607-1623
      View Details
    • Value Estimation by Request
      0.78 Acres

      4408 Industry Dr

      COMMERCIAL (GENERAL) • 0.78 Acres
      4408 Industry Dr, Bartonville, IL 61607-2717
      View Details
    • Value Estimation by Request

      601 Mckinley Ave

      COMMERCIAL (GENERAL)
      601 Mckinley Ave, Bartonville, IL 61607-2535
      View Details

    Similar Nearby for Sale

    • $339,900

      Mixed-Use Investment Property For Sale

      Commercial, residential, and multi-family investment property with current leases.
      5807 S Adams St, Bartonville, IL 61607
      View Details
    • $449,000
      4,942 SF

      High-Visibility Bartonville Commercial Property

      Prime location, high traffic count, multiple uses.
      600 Mckinley Ave, Bartonville, IL 61607
      View Details
    • Contact for pricing
      10,113 SF

      NNN Leased CVS in Bartonville

      Single-tenant CVS with 15+ years remaining on lease.
      1008 W Garfield Ave, Bartonville, IL 61607
      View Details
    • Contact for pricing
      16,000 SF

      Freestanding Bimbo Bakeries Investment Property

      Absolute NNN lease with zero landlord responsibilities in Peoria MSA.
      1012 S Bosch Rd, Peoria, IL 61607
      View Details
    • $395,000
      17,000 SF

      Bartonville Warehouse Redevelopment

      17,000 SF Warehouse, 5.5 Acres
      0 Adams St, Bartonville, IL 61607
      View Details
    • Contact for pricing
      0.26 Acres

      Residential Land in Peoria, IL

      Residential lot available for building a home or duplex.
      5115 W Harp Hollow Rd, Peoria, IL 61607
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      88,145 SF

      Premier Airport Hangar Facility

      88,145 SF hangar, office, & ramp space.
      7022 Middle Rd, Peoria, IL 61607
      View Details
    • $8 SF/Yr
      16,132 SF

      Two-Story Office Building For Lease

      Two-story office building featuring private offices, breakroom, and conference room.
      1318 S Johanson Rd, Peoria, IL 61607
      View Details
    • Contact for pricing

      Aircraft Hangar at Peoria Airport

      Premier aircraft hangar, maintenance, and office facility for lease.
      7022 West Middle Rd, Peoria, IL 61607
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1351 Garfield Ave
    Bartonville, IL 61607
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1351 Garfield Ave, Bartonville, IL, 61607
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!