Shopping Neighborhood
WASHINGTON PLAZA
2273 Washington Rd, Washington, IL 61571
Listing Price: $5,290,000
Cap Rate
8.16%
Gross SF
98,545
Rentable SF
98,545
Price/Gross SF
$53.68
Lot Size
12.59 acres
Year Built
1970
Investment Overview
OVER 49,000 RESIDENTS WITHIN FIVE MILES WITH AN AVERAGE HOUSEHOLD INCOME OF $83,611 LOCATED OFF ROUTE 8 EXPANSION ONLY SIX MILES FROM DOWNTOWN PEORIA
WASHINGTON PLAZA
Investment Highlights
- 80.75% OCCUPIED RETAIL CENTER -21 UNITS (6 VACANT UNITS)
- RECENT IMPROVEMENTS –OVER $155,000 IMPROVEMENTS TO THE PARKING LOT, HVAC AND ROOF
- SIX VACANT UNITS PROVIDING SIGNIFICANT UPSIDE (19.25%)
- POTENTIAL OUTLOT -CITY APPROVED 4,500 SF INCLUDING DRIVE-THRU (SEE PROPOSED LOCATION ON THE AERIAL)
- ANCHORED BY AMC THEATERS (1970) & DOLLAR GENERAL (1970)
- ALL BUT TWO LEASES STRUCTURED AS TRIPLE-NET (MINIMAL LANDLORD RESPONSIBILITY)
- BUILT IN 1970 WITH A COMPLETE RENOVATION OF THE BUILDING AND PARKING LOT IN 2012
Exclusively Listed By
Broker of Record
-
Steven D. Weinstock
First Vice President / Regional Manager / Designated Managing Broker
Financing By
Shopping Neighborhood
WASHINGTON PLAZA
Listing Price: $5,290,000
Cap Rate
8.16%
Gross SF
98,545
Rentable SF
98,545
Price/Gross SF
$53.68
Lot Size
12.59 acres
Year Built
1970
Investment Highlights
- 80.75% OCCUPIED RETAIL CENTER -21 UNITS (6 VACANT UNITS)
- RECENT IMPROVEMENTS –OVER $155,000 IMPROVEMENTS TO THE PARKING LOT, HVAC AND ROOF
- SIX VACANT UNITS PROVIDING SIGNIFICANT UPSIDE (19.25%)
- POTENTIAL OUTLOT -CITY APPROVED 4,500 SF INCLUDING DRIVE-THRU (SEE PROPOSED LOCATION ON THE AERIAL)
- ANCHORED BY AMC THEATERS (1970) & DOLLAR GENERAL (1970)
- ALL BUT TWO LEASES STRUCTURED AS TRIPLE-NET (MINIMAL LANDLORD RESPONSIBILITY)
- BUILT IN 1970 WITH A COMPLETE RENOVATION OF THE BUILDING AND PARKING LOT IN 2012
Investment Overview
OVER 49,000 RESIDENTS WITHIN FIVE MILES WITH AN AVERAGE HOUSEHOLD INCOME OF $83,611 LOCATED OFF ROUTE 8 EXPANSION ONLY SIX MILES FROM DOWNTOWN PEORIA
Exclusively Listed By
Broker of Record
-
Steven D. Weinstock
First Vice President / Regional Manager / Designated Managing Broker
Financing By
