7528 Grand Prairie Dr Peoria, IL 61615

Property Details for 7528 Grand Prairie Dr

Lot size

0.66 lot acres

Property type

Commercial real estate

APN

13-11-176-013

APU

1311176013

Description

This exceptional investment opportunity presents a newly constructed, 4,500 square foot Class A retail building in Peoria, Illinois, situated on a 0.6-acre lot with 32 parking spaces. The property boasts two 10-year triple-net (NNN) leases with national franchise tenants, commencing in July 2021 and December 2022, respectively, offering a remaining lease term of 8.1 years. The building, constructed in 2021, features 4,383 square feet of net rentable space, currently operating at 100% occupancy. The asking price is $2,400,000, representing a compelling $533.33 per square foot and a 5.80% capitalization rate, with a current Net Operating Income (NOI) of $145,278. Located at 7528 North Grand Prairie Drive, 61615, this property benefits from a prime location within The Shoppes at Grand Prairie, a thriving mixed-use development anchored by major national retailers and situated near significant medical facilities and the Louisville Slugger Sports Complex. The property enjoys high visibility from North Grand Prairie Drive and War Memorial Drive (Hwy 150), offering excellent access and ample parking. Rent bumps are included in the lease agreements, and the property is zoned for commercial use. This sale-leaseback opportunity provides a strong, stable income stream with minimal management requirements, as tenants are responsible for all utilities. The property is part of a large trade area encompassing 30 counties and a population of 1.7 million people. Two lease options are available.

Location Insight

City

Peoria

County

Peoria

State

Illinois

Longitude

-89.6754

Latitude

40.7797

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments