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Shopping Neighborhood

Riverside Retail Center | Value Add | High Barrier to Enty Market

420 Riverside Dr, East Peoria, IL 61611

Listing Price: $1,950,000

Cap Rate
8.44%
Gross SF
15,000
Rentable SF
15,000
Price/Gross SF
$130.00
Lot Size
1.61 acres
Year Built
1997

Investment Overview

100 Percent Occupied, 15,000 Square Foot Neighborhood Retail Center With Service Oriented Tenant Mix | Located Immediately off I-74 Exit (64,700 Vehicles per Day) | Signalized Entrance to Riverside Center

Smoothie King Unit is Equipped with a Drive-Thru | Ranked 84th Percentile Nationwide, and Top 10 in Illinois (Placer.ai)

Surrounded by Top Performing Tenants | Riverside Center - Top 1 Percent of Strip/Convenience Shopping Centers Nationwide and Statewide in Foot Traffic Per Placer.ai | Almost 5 Million Visits Annually | Tenants Include Walmart Supercenter, Lowe’s Home Improvement (in the 91st Percentile Statewide), Texas Roadhouse (in the 95th Percentile Nationwide and is the Top Store in the State), and Chili’s Grill & Bar (in the 99th Percentile Nationwide and Top Store in the State)

Value Add Neighborhood Retail Center | Immediate Upside Potential in Capturing Additional Income by Enforcing CAM and Management Fee Reimbursements as Prescribed in the Leases – Additional Upside in Raising Rents to Market| 55 Percent of the Tenants are on Triple-Net Leases

Dense Retail Corridor in a High Barrier to Entry Market | Surrounded by 2.1mm Sq. Ft. of Retail within a One-Mile Radius

Nearby National Retailers | Costco, Walmart, Target, Lowe’s, Aldi, Kohls, Five Below, Harbor Freight, Bass Pro Shops, Cabela’s, Kroger, Ulta Beauty, Ross Dress for Less, Dollar Tree, Planet Fitness, Chick Fil A, Goodwill

Minutes to Caterpillar Inc.’s Manufacturing Plant Employing 12,000 People in Peoria

Long Term Tenant Operating History | 55 Percent of the Tenants Has Been in the Center Since 2004 or Earlier

Investment Highlights

  • 100 Percent Occupied, 15,000 Square Foot Neighborhood Retail Center with Service Oriented Tenant Mix | Located Immediately off I-74 Exit (64,700 VPD) | Signalized Entrance to Riverside Center
  • Value Add Neighborhood Retail Center | Immediate Upside Potential in Capturing Additional Income by Enforcing CAM and Management Fee Reimbursements as Prescribed in the Leases
  • Dense Retail Corridor in a High Barrier to Entry Market | Surrounded by 2.1mm Sq. Ft. of Retail within a One-Mile Radius

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Shopping Neighborhood

Riverside Retail Center | Value Add | High Barrier to Enty Market

Listing Price: $1,950,000

Cap Rate
8.44%
Gross SF
15,000
Rentable SF
15,000
Price/Gross SF
$130.00
Lot Size
1.61 acres
Year Built
1997

Investment Highlights

  • 100 Percent Occupied, 15,000 Square Foot Neighborhood Retail Center with Service Oriented Tenant Mix | Located Immediately off I-74 Exit (64,700 VPD) | Signalized Entrance to Riverside Center
  • Value Add Neighborhood Retail Center | Immediate Upside Potential in Capturing Additional Income by Enforcing CAM and Management Fee Reimbursements as Prescribed in the Leases
  • Dense Retail Corridor in a High Barrier to Entry Market | Surrounded by 2.1mm Sq. Ft. of Retail within a One-Mile Radius

Investment Overview

100 Percent Occupied, 15,000 Square Foot Neighborhood Retail Center With Service Oriented Tenant Mix | Located Immediately off I-74 Exit (64,700 Vehicles per Day) | Signalized Entrance to Riverside Center Smoothie King Unit is Equipped with a Drive-Thru | Ranked 84th Percentile Nationwide, and Top 10 in Illinois (Placer.ai) Surrounded by Top Performing Tenants | Riverside Center - Top 1 Percent of Strip/Convenience Shopping Centers Nationwide and Statewide in Foot Traffic Per Placer.ai | Almost 5 Million Visits Annually | Tenants Include Walmart Supercenter, Lowe’s Home Improvement (in the 91st Percentile Statewide), Texas Roadhouse (in the 95th Percentile Nationwide and is the Top Store in the State), and Chili’s Grill & Bar (in the 99th Percentile Nationwide and Top Store in the State) Value Add Neighborhood Retail Center | Immediate Upside Potential in Capturing Additional Income by Enforcing CAM and Management Fee Reimbursements as Prescribed in the Leases – Additional Upside in Raising Rents to Market| 55 Percent of the Tenants are on Triple-Net Leases Dense Retail Corridor in a High Barrier to Entry Market | Surrounded by 2.1mm Sq. Ft. of Retail within a One-Mile Radius Nearby National Retailers | Costco, Walmart, Target, Lowe’s, Aldi, Kohls, Five Below, Harbor Freight, Bass Pro Shops, Cabela’s, Kroger, Ulta Beauty, Ross Dress for Less, Dollar Tree, Planet Fitness, Chick Fil A, Goodwill Minutes to Caterpillar Inc.’s Manufacturing Plant Employing 12,000 People in Peoria Long Term Tenant Operating History | 55 Percent of the Tenants Has Been in the Center Since 2004 or Earlier

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

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