Multi-Tenant Retail - Peoria, IL

5116 N Big Hollow Rd Peoria , IL 61615-3511

Multi-Tenant Retail - Peoria, IL - retail for sale

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Overview



Three-tenant retail center for sale in Peoria, IL. The property fronts Big Hollow Road, Glen Hollow and War Memorial Drive. Fully leased to a roster of corporate tenants that includes Aspen Dental, Vitamin Shoppe, and All About Eyes, all in like-size retail bays. In close proximity to Target, Lowe's, Best Buy, and PetSmart, along with many other popular retailers and restaurants. Just one mile from Northwoods Mall and I-75. Peoria is the largest city outside of the Chicago MSA, benefitting from a diverse range of industries and a large concentration of higher education institutions.

Investment highlights


  • Fee simple interest
  • Newly-constructed center features three NN leases with 15 years of primary lease term remaining
  • Contractual rent growth at 10% every five years
  • Zero landlord obligations
  • Opportunity to invest in a fully-leased retail location with exceptional tenant strength and premium retail location


General
Property type Retail
Property subtype Shopping center
Tenure type Sale/Purchase
Property address 5116 N Big Hollow Rd, Peoria, IL 61615-3511
Land in acres 0.28
Building size 10,260  ft2
Year built 2010
Financial
Price $4,750,000
Cap rate 7.56%
Current NOI $358,998.00
Lease

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