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    Property profile & analytics

    1112 Court St Pekin, IL 61554

    • Assisted living facilities
    • 1,488 SF
    • 0.38 lot acres
    For Sale
    View listing
    $165,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2840590
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Mardell Manor / Nursing Home

    Property Details for 1112 Court St

    Year built
    1925
    Lot size
    0.38 lot acres
    Property size
    1,488 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    04-10-02-224-038
    APU
    41002224038

    Description

    This exceptional 2,400 square foot office space is ideally situated on the second floor at 72 East 3rd Avenue in the heart of downtown San Mateo, CA 94401. The property offers a bright and modern open layout, perfect for small to mid-sized companies seeking a vibrant and convenient location. The suite includes a fully equipped kitchen, a dedicated conference room, and two well-maintained bathrooms. Additional amenities include a comfortable lounge area (convertible to workspace) and the option to add fully furnished spaces or Framery privacy pods and booths. The building's central downtown location provides easy access to a variety of restaurants and the lively San Mateo atmosphere. This single-tenant space offers a comprehensive and seamless business experience, combining prime location with all the necessary amenities for a thriving workplace. The gross lease is $8150 per month, with an additional $1200 per month in NNN expenses. This is a fantastic opportunity to establish your business in a thriving downtown environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pekin
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.6349
    Latitude
    40.5643
    CBSA code
    37900
    CBSA name
    PEORIA, IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,344
    $20,970
    $70,110
    $91,080
    -
    $62,910
    $210,330
    $273,240

    Comparable in this City

    • Value Estimation by Request
      8,796 SF

      2400 8th St

      HOMES (RETIRED, NURSING) • 8,796 SF
      2400 8th St, Pekin, IL 61554-1547
      View Details
    • Value Estimation by Request
      7,758 SF

      246 Derby St

      HOMES (RETIRED, NURSING) • 7,758 SF
      246 Derby St, Pekin, IL 61554-5562
      View Details
    • Value Estimation by Request
      3,848 SF

      1817 Cres Dr

      HOMES (RETIRED, NURSING) • 3,848 SF
      1817 Cres Dr, Pekin, IL 61554-1572
      View Details
    • Value Estimation
      $835,000
      47,751 SF

      1520 El Camino Dr

      HOMES (RETIRED, NURSING) • 47,751 SF
      1520 El Camino Dr, Pekin, IL 61554-6062
      View Details
    • Value Estimation by Request
      4,356 SF

      3240 Barney Ave

      HOMES (RETIRED, NURSING) • 4,356 SF
      3240 Barney Ave, Pekin, IL 61554-6233
      View Details
    • Value Estimation
      $810,000
      70,950 SF

      1520 El Camino Dr

      HOMES (RETIRED, NURSING) • 70,950 SF
      1520 El Camino Dr, Pekin, IL 61554-6062
      View Details

    Similar Nearby for Sale

    • $165,000
      0.38 Acres

      Pekin Assisted Living Investment Opportunity

      Assisted living facility for sale near Unity Points Pekin Hospital.
      1112 Court St, Pekin, IL 61554
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      Pekin Commercial Building, 0.97 Acres

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      Pekin Car Wash - Prime Location

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    Similar Nearby for Lease

    • $14 SF/Yr
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      Retail Space in North Pekin

      1,200 SF retail space in high-traffic area.
      3552-3560 Court St, Pekin, IL 61554
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    • $12 SF/Yr
      1,400 SF

      Retail Space on Court Street

      Retail space with open floor plan and natural light.
      2125-2133 Court St, Pekin, IL 61554
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    • $13 SF/Yr
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      Pekin Retail Space Available

      Retail space available for rent in Pekin, Illinois.
      505-539 S Parkway Dr, Pekin, IL 61554
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    • $6 SF/Yr
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      Pekin, IL Commercial Land & Building

      8,400 SF Commercial Space, 50 Parking Spots
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      View Details
    • $9 SF/Yr
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      Pekin, IL Office Space Available

      Downtown Pekin office suites, multiple sizes.
      200 2Nd St, Pekin, IL 61554
      View Details
    • $1,250 /Mo
      1,200 SF

      Retail Unit in Pekin

      1,200 SF retail unit available for rent.
      3293-3299 Court St, Pekin, IL 61554
      View Details
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    1112 Court St
    Pekin, IL 61554
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    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
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