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Property profile & analytics
FOR SALE
Retail space

505 S Parkway Dr Pekin, IL 61554

11,400 SF 2.16 ac lot Built 2001
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US28-2059547
Property summary
AI-generated overview

This exceptional retail opportunity presents itself at Parkway Plaza Shopping Center, located at 505-539 S Parkway Dr, Pekin, IL 61554. This single-story, Class B shopping center boasts a total of 11,400 square feet across ten suites, situated on a prominent corner lot at the intersection of S. Parkway Drive and Court Street in Tazewell County. Currently, there are 5,280 square feet of vacant space available, offering flexible lease options ranging from a minimum of 900 square feet to a maximum contiguous space of 3,000 square feet. The property features ample parking with 57 spaces available for customers and tenants. The high-traffic location provides excellent visibility, with S. Parkway Drive experiencing 11,400 cars per day and Court Street seeing 21,900 cars per day. This makes Parkway Plaza an ideal location for a variety of retail or office businesses seeking high exposure and convenient access for their clientele. The property's one-story design and multiple suite options provide versatility for businesses of various sizes. Invest in a prime retail location in a thriving community. Contact us today to learn more about the available spaces and lease terms.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 2001
Total area 11,400 SF
Lot 2.16 ac (94,090 SF)
APN 04-10-01-310-010
UPID US28-2059547
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
Current use
Occupant on record · Public records
  • Smokers Paradise (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$826k
Blend (final) Blend
$925k
Owner & transaction history
City Of Pekin · 3 yrs held
City Of Pekin
since 2023
Last sale
$2,950
3 recorded transactions
2023
$2,950
1969
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $965,000 +71.4%
Restaurant $805,000 +42.8%
Commercial (general) $785,000 +38.9%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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