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Shopping Strip

Gateway Plaza

101 River Road, East Peoria, IL 61611

Listing Price: $2,710,000

Gross SF
14,449
Rentable SF
14,449
Price/Gross SF
$187.56
Lot Size
2.46 acres
Year Built
2002

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a 100 percent fee simple interest in Gateway Plaza (The “Property”), a 14,449-square-foot retail strip center and Single Tenant Net Leased Arby’s located in East Peoria, Illinois.

Shadow anchored by Walmart and Lowe’s, the highly visible asset features a complementary mix of ecommerce resistant, service-oriented tenants with 100% of the rent roll consisting of national credit. Gateway Plaza is anchored by Sherwin Williams, who has been at the center for more than 10-years and just executed a five-year renewal in 2024. The Property also includes drive-thru pad sites for both Arby’s and an ATM. Built in 2002 on a 2.46-acre site, the Property has been very well maintained and is in good condition with little to no deferred maintenance.

Perfectly positioned at the signalized hard corner of River Road and Conference Center Dr, the Property features the best access in the entire trade area, with all traffic headed to Walmart, Bass Pro Shops, and Lowe’s forced to drive directly past Gateway Plaza. The Property offers a rare combination of best-in-market location, strong national tenant line-up, and a true value-add opportunity through the ability to lease up the two vacant suites.

The adjacent Walmart Supercenter is a high performer with more than 2.5 million annual visits and the Lowe’s is the #4 busiest store in the state of Illinois. All told, the Riverside Power Center and Bass Pro attract a combined 5.4 million annual visitors, nearly all of whom must drive directly past Gateway Plaza.
Gateway Plaza offers investors a secure and stable asset with a significant value-add opportunity through lease-up of the two remaining vacancies which total 3,000 square feet. Once the Property is stabilized, the cap rate will be north of 10 percent with a 14%+ cash-on-cash return, providing a clear value creation strategy.

The Property is being offered free and clear of debt for a 7.0 percent cap rate totaling $2,710,000.

Investment Highlights

  • TRUE VALUE-ADD OPPORTUNITY | The Property is Currently 79 Percent Leased Offering Investors the Opportunity to Lease Two Vacant Suites Totaling 3,000 Square Feet
  • BEST LOCATION IN TRADE AREA | The Property is Situated in the Most Strategic Location Within the Trade Area
  • SERVICE ORIENTIED TENANCY WITH NATIONAL CREDIT | Tenant Roster Includes A Stand-Alone Arby's, Sherwin Williams, T-Mobile, And Sport Clips

Exclusively Listed By

  • Chris Garavaglia

    First Vice President Investments

    (314) 889-2552

    Email Chris

    License(s): MO: 2015042068, NE: 20240127

    St. Louis

  • Alex Perez

    First Vice President Investments

    (314) 889-2525

    Email Alex

    License(s): MO: 2000163389 , NE: 20230231, IL: 475199830, AL: 000164341 - 0

    St. Louis

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Financing By

Shopping Strip

Gateway Plaza

Listing Price: $2,710,000

Gross SF
14,449
Rentable SF
14,449
Price/Gross SF
$187.56
Lot Size
2.46 acres
Year Built
2002

Investment Highlights

  • TRUE VALUE-ADD OPPORTUNITY | The Property is Currently 79 Percent Leased Offering Investors the Opportunity to Lease Two Vacant Suites Totaling 3,000 Square Feet
  • BEST LOCATION IN TRADE AREA | The Property is Situated in the Most Strategic Location Within the Trade Area
  • SERVICE ORIENTIED TENANCY WITH NATIONAL CREDIT | Tenant Roster Includes A Stand-Alone Arby's, Sherwin Williams, T-Mobile, And Sport Clips

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a 100 percent fee simple interest in Gateway Plaza (The “Property”), a 14,449-square-foot retail strip center and Single Tenant Net Leased Arby’s located in East Peoria, Illinois. Shadow anchored by Walmart and Lowe’s, the highly visible asset features a complementary mix of ecommerce resistant, service-oriented tenants with 100% of the rent roll consisting of national credit. Gateway Plaza is anchored by Sherwin Williams, who has been at the center for more than 10-years and just executed a five-year renewal in 2024. The Property also includes drive-thru pad sites for both Arby’s and an ATM. Built in 2002 on a 2.46-acre site, the Property has been very well maintained and is in good condition with little to no deferred maintenance. Perfectly positioned at the signalized hard corner of River Road and Conference Center Dr, the Property features the best access in the entire trade area, with all traffic headed to Walmart, Bass Pro Shops, and Lowe’s forced to drive directly past Gateway Plaza. The Property offers a rare combination of best-in-market location, strong national tenant line-up, and a true value-add opportunity through the ability to lease up the two vacant suites. The adjacent Walmart Supercenter is a high performer with more than 2.5 million annual visits and the Lowe’s is the #4 busiest store in the state of Illinois. All told, the Riverside Power Center and Bass Pro attract a combined 5.4 million annual visitors, nearly all of whom must drive directly past Gateway Plaza. Gateway Plaza offers investors a secure and stable asset with a significant value-add opportunity through lease-up of the two remaining vacancies which total 3,000 square feet. Once the Property is stabilized, the cap rate will be north of 10 percent with a 14%+ cash-on-cash return, providing a clear value creation strategy. The Property is being offered free and clear of debt for a 7.0 percent cap rate totaling $2,710,000.

Exclusively Listed By

  • Chris Garavaglia

    First Vice President Investments

    (314) 889-2552

    Email Chris

    License(s): MO: 2015042068, NE: 20240127

    St. Louis

  • Alex Perez

    First Vice President Investments

    (314) 889-2525

    Email Alex

    License(s): MO: 2000163389 , NE: 20230231, IL: 475199830, AL: 000164341 - 0

    St. Louis

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

Financing By

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