518 E War Memorial Dr - Freestanding FOR SALE


Peoria, IL 61614- West Peoria | 
$1,439,020 USD
312-548-6822
518 E War Memorial Dr, Peoria, IL for Sale
$1,439,020 USD
Freestanding - FOR SALE
1/8
null | 6.15% Cap Rate

518 E War Memorial Dr
Peoria, IL 61614
West Peoria


HIGHLIGHTS

  • Recent 12 Year Extension
  • Store Consolidation
  • Long-Term Nearly 20 Year Occupancy
  • Attractive Rent Increase
  • Strategic Retail Location
  • Minimal Landlord Responsibility

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a single tenant Sherwin Williams located at 518 E War Memorial Drive in Peoria, IL (the "Property").? Sherwin Williams has been at this location since 2007, executing multiple lease extensions; most recently, they executed a new, long-term, 12-year lease extension further demonstrating their commitment to the site and market.? The current lease term runs through September 2038 followed by three (3) 5-year options.? The lease features a 10% rent increase in 2031, followed by a 5% rent increase in 2036, with 10% rent increases at the start of each option period.? The Property also includes 519, 521 and 523 E Paris Avenue (the parking lot behind Sherwin Williams).? Sherwin Williams is well located along E War Memorial Drive, one of Peoria's primary commercial and commuter corridors, providing convenient access to surrounding residential neighborhoods and the broader Peoria market.? The Property benefits from strong exposure along a well-traveled roadway and is positioned within an established retail and service corridor.? Sherwin Williams is surrounded by a mix of national and local retailers, restaurants, home improvement providers, and other daily-needs amenities, which help drive consistent traffic to the immediate area.?

FOR SALE DETAILS

PRICE

$1,439,020 USD

PRICE/SF

$257 USD /SF

CAP RATE

6.15%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sherwin Williams

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1958

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

C-1

APN/PARCEL ID

14-28-427-001,14-28-427-002,14-28-427-017,14-28-427-018,14-28-427-019

ASK ABOUT THIS PROPERTY

Jack CollinsHorvath & TremblayMore Info
312-548-6822

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Jack CollinsHorvath & TremblayMore Info
312-548-6822

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.