7611 N Grand Prairie Dr - Department Store FOR SALE


Peoria, IL 61615- North Peoria | 
$10,270,000 USD
7611 N Grand Prairie Dr, Peoria, IL for Sale
$10,270,000 USD
Department Store - FOR SALE
1/9
null | 6.75% Cap Rate

7611 N Grand Prairie Dr
Peoria, IL 61615
North Peoria


HIGHLIGHTS

  • Long-Term Cash Flow Backed by a National Retailer: Corporate Guaranty through July 2038
  • Upcoming Rent Bump in August 2028
  • Limited Direct Competition in Hunting & Outdoor Category: Only Retailer within 5 Miles
  • Complemented by a High Performing Grocery Anchor: HyVee, 1.2M Annual Visits
  • Minutes to the Louisville Slugger Sports Complex: 600K Annual Visits
  • Located Within Central Illinois’ Dominant Retail Corridor: 1M SF of Retail

OVERVIEW

CBRE, as exclusive advisor, presents the opportunity to acquire a 60,800-square-foot Academy Sports + Outdoors in Peoria, Illinois’ premier Grand Prairie Plaza retail corridor. The property is fully leased to Academy, Ltd. under a 15-year NN lease executed in 2023, with approximately 12 years remaining through July 2038. The lease features scheduled rent increases every five years, including a 2028 increase to $723,520 annually, and three 5-year renewal options extending potential occupancy through 2053. Academy Sports + Outdoors, a leading sporting goods retailer with more than 300 stores nationwide and a BB+ credit rating, provides stable cash flow under a largely passive ownership structure with limited landlord responsibilities. The property is located within Peoria’s dominant retail hub, surrounded by over one million square feet of retail and national tenants including HyVee, Dick’s Sporting Goods, HomeGoods, Marshalls, DSW, and Old Navy. It also benefits from co-anchoring with a top-performing HyVee that attracts more than 1.2 million annual visitors. Less than one mile away, the upscale Louisville Slugger Sports Complex, a 12-field tournament destination that attracts teams and visitors from across the United States and Canada, draws over 600,000 visitors annually, further supporting consumer traffic. As Central Illinois’ regional retail hub, Peoria offers a diverse economy, broad trade area, and strong long-term retail fundamentals. The property is further supported by a major VA outpatient clinic located directly across the street and the 200-acre OSF HealthCare campus just one mile away. The surrounding retail corridor encompasses more than 1 million square feet of retail space and draws approximately 1.7 million consumers from a 30-county trade area, reinforcing the site’s position within one of Central Illinois’ leading retail and healthcare hubs.

FOR SALE DETAILS

PRICE

$10,270,000 USD

PRICE/SF

$169 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Academy Sports + Outdoors

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Department Store

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

100

LAND DETAILS

LAND ACRES

4.41 AC

LAND SF

192,100 SF

ZONING

C2

APN/PARCEL ID

13/11/151/019

ASK ABOUT THIS PROPERTY

Michael KaiderCBRE, Inc.More Info

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

Michael KaiderCBRE, Inc.More Info

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