Current Use by Public Records
- Warehouses
Property Details for 421 Moneta Ave
- Lot size
- 1.27 lot acres
- Property type
- Warehouses
- Property subtype
- Land
Description
This Peoria Heights, IL property offers a unique investment opportunity. The 1.27-acre lot houses a 25,350 sq ft facility, including 89 self-storage units and 6 additional rentable spaces for warehouse or commercial use. Features include a 65' x 50' two-story warehouse, a 5,500 sq ft building with three contractor bays, a 1,600 sq ft second-floor storage unit, and two offices with a full kitchen and bathroom. The property boasts a pro-forma NOI of $122,272, with current NOI at $86,479 and a 65% occupancy rate. Recent renovations (2024) have upgraded the facility, which sits in a favorable supply market with several new developments within a 5-mile radius. The property's industrial zoning allows for expansion opportunities, with potential for outdoor leasing or construction of new units, and several contiguous properties available for acquisition. The asking price is $1,390,000 ($54/sq ft, $14,631/unit). The 2-story building is situated at 421 E Moneta Avenue, Peoria Heights, IL 61616. The property's high vacancy rate is due to recent fire damage that has since been fully repaired and renovated. This presents a strong opportunity for a new owner to increase occupancy and maximize revenue.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Peoria Heights
- County
- Peoria
- State
- Illinois
- Longitude
- -89.5875
- Latitude
- 40.7414
