Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2934 Court St Pekin, IL 61554
    Property profile & analytics

    2934 Court St Pekin, IL 61554

    View on Map
    • Specialty properties
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 2934 Court St

    Property type
    Specialty properties
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional 2,370 square foot commercial space in Pekin, IL, is available for immediate lease at $2,200 per month, including CAM charges. Located in a thriving strip mall, this newly renovated property boasts high visibility and ample parking, recently repaved for added convenience. The interior features brand-new flooring and fresh paint, creating a modern and inviting atmosphere. The layout is flexible, suitable for various business types, including retail, traditional office, executive office, coworking, or creative office spaces. The space includes two restrooms and a private back room, ideal for storage, a break room, or additional office space. High ceilings and large windows enhance the spacious feel. Its prime location offers easy access to major roads and local amenities, ensuring high traffic flow and customer accessibility. Utilities are the responsibility of the tenant. This move-in ready space presents a fantastic opportunity for businesses seeking a well-maintained, high-traffic location. Don't miss out on 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
    Pekin
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.6092
    Latitude
    40.5496

    Comparable in this City

    • Value Estimation by Request

      2932 Court St

      Office Units
      2932 Court St, Pekin, IL 61554
      View Details
    • Value Estimation by Request
      0.42 Acres

      3299 Court St

      Individual retail properties • 0.42 Acres
      3299 Court St, Pekin, IL 61554
      View Details
    • Value Estimation by Request

      611 Margaret St

      Flex space
      611 Margaret St, Pekin, IL 61554
      View Details
    • Value Estimation by Request
      8,400 SF

      1302 Howard St

      Lifestyle centers • 8,400 SF
      1302 Howard St, Pekin, IL 61554
      View Details
    • Value Estimation by Request
      2,900 SF

      3331 Court St

      Office Spaces • 2,900 SF
      3331 Court St, Pekin, IL 61554
      View Details
    • Value Estimation by Request
      15,350 SF

      1717 Highwood Ave

      Churches & religious facilities • 15,350 SF
      1717 Highwood Ave, Pekin, IL 61554
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Pekin Commercial Building For Sale

      Downtown Pekin commercial building with high visibility and flexible layout.
      215 Court St, Pekin, IL 61554
      View Details
    • Contact for pricing

      Commercial Property for Sale

      Commercial property available for purchase.
      3500 Court St, Pekin, IL 61554
      View Details
    • Contact for pricing

      Commercial Property in Pekin, Illinois

      Commercial property for sale in Pekin, Illinois.
      3465 Court St, Pekin, IL 61554
      View Details
    • $69,000
      0.16 Acres

      Versatile Commercial Property in Pekin

      Corner lot commercial property suitable for various business ventures.
      523 Caroline St, Pekin, IL 61554
      View Details
    • New
      $117,000
      1,038 SF

      Pekin Mixed-Use Investment Opportunity

      Mixed-use property with commercial space and residential apartment in Pekin.
      529 Ann Eliza St, Pekin, IL 61554
      View Details
    • Contact for pricing
      15,350 SF

      Pekin Church/Office/Classroom Building on Acres

      Single-level 15,350 SF building on 6.38 acres in Pekin.
      1717 Highwood Ave, Pekin, IL 61554
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Pekin Retail/Office Space Available

      Versatile commercial space with high visibility in Pekin, Illinois.
      3010 Court St, Pekin, IL 61554
      View Details
    • Contact for pricing

      Office Space Near Broadway

      Office space for rent near Broadway and Parkway intersection.
      115 N Parkway Dr, Pekin, IL 61554
      View Details
    • Contact for pricing
      1,200 SF

      Pekin Retail Space Available

      Retail space available for rent in Pekin, Illinois.
      505-539 S Parkway Dr, Pekin, IL 61554
      View Details
    • Contact for pricing
      1,493 SF

      Retail Unit in Pekin

      1,200 SF retail unit available for rent.
      3293-3299 Court St, Pekin, IL 61554
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in North Pekin

      1,200 SF retail space in high-traffic area.
      3552-3560 Court St, Pekin, IL 61554
      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.
    2934 Court St
    Pekin, IL 61554
    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
    2934 Court St, Pekin, IL, 61554
    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!