Downtown District | Proximity to PIA Airport | 1335 SW Washington St
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Downtown District | Proximity to PIA Airport 1335 SW Washington St
127,000 SF Vacant Flex Building Online Auction Sale Peoria, IL 61602
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Investment Highlights
- Extremely visible brick 127,000-SF R&D building primed for warehouse and office use in the heart of Peoria’s distinct downtown warehouse district.
- Dynamic opportunities for an owner/user, value-add investor, or developer seeking a well-built asset with sought-after revitalization capabilities.
- Surrounded by numerous conveniences within a 5-mile radius, including Costco, Walmart Supercenter, Target, Aldi, Kroger, and more.
- Ideally situated on a corner lot with easy access to IL-116, close to I-74 and the General Wayne A. Downing Peoria International Airport (PIA).
- Encircled by a highly skilled workforce as 37.5% of Peoria residents obtain a bachelor’s degree or higher, surpassing the national average.
Executive Summary
1335 SW Washington Street presents an unmissable six-story, 127,000-square-foot building prominently positioned on a highly visible corner lot in Peoria, Illinois. The research and development property boasts premium office and warehouse space in the heart of Peoria’s bustling downtown warehouse district. The brick building includes a lower level and features ideal building specifications comprising two freight elevators, three dock doors, wide column spacing, 10- to 12-foot clear heights, and multiple lots for parking options. Initially constructed in 1950, the building was built to last and has been well-maintained by ownership. This asset is offered vacant and is primed for an owner/user, developer, or value-add investor seeking a revitalization opportunity with a multitude of abilities.
1335 SW Washington Street benefits from its extremely accessible location just off major thoroughfare Illinois Route 116, which provides seamless east-west connectivity throughout the state. The building is also a quick four-minute commute to Interstate 74 and less than a 5-mile drive from the General Wayne A. Downing Peoria International Airport (PIA).
Excellently encompassing the property within a 5-mile radius is a dense population of more than 120,000 residents who have an impressive spending power of nearly $1.3 billion annually. This well-established population serves as a highly educated workforce, as 37.5% of Peoria city residents obtain a bachelor’s degree or higher, surpassing the national average of 34.3%. Ideally, numerous amenities are nearby, including nationally renowned retailers and popular quick-service restaurants. These conveniences consist of Costco, Target, Walmart Supercenter, Chick-fil-A, McDonald’s, Kroger, Aldi, Dollar General, Starbucks, Bass Pro Shops, Tractor Supply, and many more.
This acquisition offers the dynamic opportunity to renew a solid research and development property already primed for office and industrial use with the ability to transform into a possible multifamily building, self-storage, or mixed-use asset.
Property tours are available by appointment only. Please contact the broker to schedule.
1335 SW Washington Street benefits from its extremely accessible location just off major thoroughfare Illinois Route 116, which provides seamless east-west connectivity throughout the state. The building is also a quick four-minute commute to Interstate 74 and less than a 5-mile drive from the General Wayne A. Downing Peoria International Airport (PIA).
Excellently encompassing the property within a 5-mile radius is a dense population of more than 120,000 residents who have an impressive spending power of nearly $1.3 billion annually. This well-established population serves as a highly educated workforce, as 37.5% of Peoria city residents obtain a bachelor’s degree or higher, surpassing the national average of 34.3%. Ideally, numerous amenities are nearby, including nationally renowned retailers and popular quick-service restaurants. These conveniences consist of Costco, Target, Walmart Supercenter, Chick-fil-A, McDonald’s, Kroger, Aldi, Dollar General, Starbucks, Bass Pro Shops, Tractor Supply, and many more.
This acquisition offers the dynamic opportunity to renew a solid research and development property already primed for office and industrial use with the ability to transform into a possible multifamily building, self-storage, or mixed-use asset.
Property tours are available by appointment only. Please contact the broker to schedule.
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per SF
Peoria - IL USA
Market Cap Rate
Peoria - IL USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
| Sale Type | Investment | Rentable Building Area | 127,000 SF |
| Sale Conditions | Auction Sale | No. Stories | 6 |
| Property Type | Flex | Year Built | 1950 |
| Property Subtype | R&D | Parking Ratio | 1.02/1,000 SF |
| Building Class | C | No. Dock-High Doors/Loading | 3 |
| Lot Size | 0.55 AC | Opportunity Zone |
Yes
|
| Sale Type | Investment |
| Sale Conditions | Auction Sale |
| Property Type | Flex |
| Property Subtype | R&D |
| Building Class | C |
| Lot Size | 0.55 AC |
| Rentable Building Area | 127,000 SF |
| No. Stories | 6 |
| Year Built | 1950 |
| Parking Ratio | 1.02/1,000 SF |
| No. Dock-High Doors/Loading | 3 |
| Opportunity Zone |
Yes |
DEMOGRAPHICS
Regional Accessibility
CITY
POPULATION
MILES
DRIVE TIME
Chicago
2,705,994
163
3 h 6 m
Indianapolis
867,125
208
3 h 55 m
Columbus
892,533
384
7 h 13 m
Detroit
672,662
415
7 h 45 m
Nashville
669,053
442
8 h 11 m
Memphis
650,618
464
8 h 34 m
ACCESS AND LABOR FORCE
10 MILES
Total Population
252,727
Total Labor Force
122,945
Unemployment Rate
5.39%
Median Household Income
$57,456
Warehouse Employees
22,238
High School Education Or Higher
92.30%
$ values in USD
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $372,343 CAD | |
| Land Assessment | $75,360 CAD | Total Assessment | $447,703 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$75,360 CAD
Improvements Assessment
$372,343 CAD
Total Assessment
$447,703 CAD
zoning
| Zoning Code | WD |
| WD |
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Sophy Cardenas
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 478027045
-
Justin Ferrill -
Coldwell Banker Commercial The Real Estate Group
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VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Downtown District | Proximity to PIA Airport | 1335 SW Washington St
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Downtown District | Proximity to PIA Airport | 1335 SW Washington St
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