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Property profile & analytics
FOR LEASE
Retail space

1960 Freedom Pkwy Washington, IL 61571

14,000 SF 1.37 ac lot Built 2005
Entity Owned 16-yr Hold ~ Est. High Equity
Property ID
US28-0467289
Property summary
AI-generated overview

This 14,000 square foot, single-story Class B retail strip center, built in 2005, offers two available suites ranging from 1,540 to 4,060 square feet (the larger space is divisible to 2,030 square feet). Located in Washington, Illinois, in Tazewell County (zip code 61571), at 1960 Freedom Parkway, this property benefits from a highly visible location as an outparcel to a Walmart Supercenter. Strong co-tenancy includes Menards, Aldi, Kroger, Dollar Tree, and PNC Bank. The property features excellent access with dedicated, signalized turn lanes in all directions, further enhanced by a recently completed road extension connecting Cummings Lane to Freedom Parkway, increasing traffic flow and visibility. The property is zoned C3 and comprises five suites in total within a single building. Attractive leasing incentives are available, including three months free rent for a three-year lease or five months free rent for a five-year lease signed before December 31, 2024. A tenant improvement allowance is also offered. This presents a compelling opportunity for retailers seeking high-traffic exposure in a thriving commercial area.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 2005
Total area 14,000 SF
Lot 1.37 ac (59,677 SF)
APN 02-02-16-301-001
UPID US28-0467289
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$2.04M
Comparable Approach Comparable
$1.31M
Blend (final) Blend
$1.63M
Owner & transaction history
Golden Realty LLC · 16 yrs held
Golden Realty LLC
since 2009
5 recorded transactions
2019
Price N/A
2009
$1.9M
2005
$450,000
1969
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units) $2.2M +159.2%
Auto repair, garage $1.2M +42.0%
Commercial (general) $1.2M +40.6%
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