3299 Court St Pekin, IL 61554
- Retail properties
- 0.42 lot acres
Current Use by Public Records
- Retail properties
Property Details for 3299 Court St
- Year built
- 2002
- Lot size
- 0.42 lot acres
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
This exceptional investment opportunity presents a fully occupied, four-tenant building situated on a prominent 0.42-acre lot at 3299 Court Street in Pekin, Illinois. The 5,186 square foot building, constructed in 2002 and classified as Class B, boasts a strong 9.21% cap rate with a Net Operating Income (NOI) of $36,737. The property benefits from a triple-net (NNN) lease structure, ensuring minimal landlord responsibilities. Currently operating at 100% occupancy, this multi-tenant property offers immediate cash flow and long-term stability. The building is zoned B3 and features a shared parking lot, updated in 2024, providing ample parking for tenants and customers. The roof was recently replaced in January 2016. This prime location enjoys high visibility on Court Street, a major commercial thoroughfare with a daily traffic count of 18,300 vehicles. Its strategic placement next to Courtside Mall, and proximity to national retailers such as McDonald's, Walmart, Dollar General, Menards, and Planet Fitness, ensures consistent foot traffic and strong tenant demand. This is a rare opportunity to acquire a well-maintained, high-performing commercial property in a thriving retail corridor. The asking price is $399,000.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pekin
- County
- Tazewell
- State
- Illinois
- Longitude
- -89.6023
- Latitude
- 40.5471
