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Sunset Plaza 2910-2996 Court St 59,982 SF 74% Leased Retail Building Pekin, IL 61554 $6,199,760 CAD ($103.36 CAD/SF) 9.23% Cap Rate

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Investment Highlights

Significant Upside Potential
Operating Expense Protection
High Traffic Counts

Attractive Rent Increases
Strategic Retail Location
Strong Demographics

Executive Summary

Horvath & Tremblay is pleased to present the exclusive opportunity to acquire the fee simple interest in Sunset Plaza located at 2910-2996 Court Street in Pekin, Illinois (the “Property”). The plaza contains twenty-eight (28) suites and is 74.00% leased to a mix of regional and local retailers and contains 59,982 square feet spread over two buildings on a 5.45-acre parcel. The majority of the leases call for the tenants to reimburse their pro-rata share of real estate taxes, insurance and operating expenses and provide attractive rent increases in the primary lease terms and renewal options (if applicable). Sunset Plaza occupies a prime location at the signalized intersection of Valle Vista Boulevard and Court Street, the area’s primary commercial and commuter corridor. The Property offers excellent visibility, frontage, and access enhancing its presence within the established trade area. The Property is surrounded by national retailers and restaurants that drive traffic to the area and is seconds from schools, dense residential neighborhoods and several large employers providing a captive and built-in customer base. In addition, Sunset Plaza offers efficient regional connectivity with quick access to IL Routes 9, 29 and 98, and US Route 24, supporting ease of travel throughout Pekin and the broader region, and providing quick access to Downtown Peoria, 12 miles to the north.

Property Facts

Sale Type

Investment

Property Type

Retail

Building Size

59,982 SF

Building Class

Year Built/Renovated

1975/1983

Price

$6,199,760 CAD

Price Per SF

$103.36 CAD

Cap Rate

9.23%

NOI

$571,938 CAD

Percent Leased

74%

Tenancy

Multiple

Building Height

1 Story

Building FAR

0.25

Lot Size

5.45 AC

Frontage

607’ on Court Street

Major Tenants

Artistic Flowers
Retailer
-
-
Modified Gross
Sep 2016

Retailer
-
-
-
-

Chez Audibel, ils connaissent l'importance de l'audition parce qu'ils voient tous les jours comment cela affecte les gens. Aider les gens à mieux entendre est tout ce qu'ils font. C'est tout ce qu'ils ont fait. L'ouïe est leur passion, leur objectif et leur but. Aider les gens à entendre — Votre audition est aussi unique que chaque personne. C'est pourquoi ils personnalisent les parcours auditifs autour de leurs clients. Entendre le mieux que l'on peut a un impact sur tous les aspects de la vie. La meilleure solution auditive permet aux gens de rester connectés à leur communauté et de profiter des détails de chaque moment.

Health Care and Social Assistance
-
-
Modified Gross
-

Career Link is a workforce development organization dedicated to strengthening the workforce of Central Illinois. Operating through the Illinois workNet Center of Peoria, Career Link provides job search assistance, education support, training, and additional resources to residents and employers across Fulton, Marshall, Mason, McLean, Stark, Tazewell, and Woodford counties

Dept. Of Conservation
-
-
-
-
-

Happening
Services
-
-
-
-

Home Health
Health Care and Social Assistance
-
-
Full Service
Jan 2016

Public Administration
-
$13.07 CAD
Plus Utilities and Cleaning
Oct 2012

Le Department of Human Services de l'Illinois a été créé en 1997 pour offrir aux résidents de leur État un accès simplifié aux services intégrés, en particulier ceux qui aspirent à l'indépendance économique et ceux qui font face à de multiples défis en matière d'autosuffisance. L'IDHS est fière de sa diversité, de sa compassion et des services que l'organisme et ses partenaires communautaires fournissent. Le ministère des Services sociaux est l'un des plus importants organismes de l'Illinois, avec plus de nombreux employés.

Retailer
-
-
Modified Gross
Oct 2017

Retailer
-
-
-
-

La beauté est plus qu'une peau profonde chez Merle Norman Cosmetics. Ils développent, fabriquent et distribuent leur propre gamme complète de cosmétiques novateurs pour les soins de la peau, le maquillage et la couleur à Los Angeles. Mais il y a quelque chose de beaucoup plus grand au travail sous la surface. C'est leur mission d'aider les femmes partout à se sentir et à se sentir mieux. Merle Norman Cosmetics y parvient en créant des liens solides entre les employés, les franchisés et les clients. Ensemble, ils représentent une marque d'opportunité et d'expression personnelle. Cela fait de Merle Norman Cosmetics l'une des franchises cosmétiques les plus réussies au monde — un pionnier de l'industrie qui a permis aux hommes et aux femmes de devenir entrepreneurs depuis 85 ans !

Waterbed Creation
-
-
-
-
-

Tenant	Industry	SF Occupied	Rent/SF	Lease Type	Lease End
Artistic Flowers	Retailer	-	-	Modified Gross	Sep 2016
	Retailer	-	-	-	-
	Health Care and Social Assistance	-	-	Modified Gross	-
Dept. Of Conservation	-	-	-	-	-
Happening	Services	-	-	-	-
Home Health	Health Care and Social Assistance	-	-	Full Service	Jan 2016
	Public Administration	-	$13.07 CAD	Plus Utilities and Cleaning	Oct 2012
	Retailer	-	-	Modified Gross	Oct 2017
	Retailer	-	-	-	-
Waterbed Creation	-	-	-	-	-

Space Availability

Space
Size
Space Use
Position
Available

2926
1,258 SF
Retail
-
Now

This corner retail/office space at Sunset Plaza on Court Street in Pekin is ready for a new business to lease! Clean, ready to go unit with loads of natural light, ample parking, and high traffic counts on Court Street (15,000+ ADT) and destination traffic throughout the plaza. This unit is currently built out with a single office space, restroom and open retail space in the main area with cabinets and a sink.

2950
1,907 SF
Retail
-
Now

This retail/office space with storage/warehouse space at Sunset Plaza on Court Street in Pekin is ready for a new business to lease! Owners will add a garage door if negotiated in lease. The plaza features ample parking, and high traffic counts on Court Street (15,000+ ADT) and destination traffic throughout the plaza. This unit is currently built out with a lobby/reception area, two office spaces, warehouse space, a work area that could be converted into additional offices, and access to common area restrooms.

2970
3,663 SF
Retail
-
Now

This former government services office space at Sunset Plaza on Court Street in Pekin is ready for a new business to move in and lease! Clean, ready to go unit with ample parking, high traffic counts on Court Street (15,000+ ADT) and destination traffic throughout the plaza.

2982
1,300 SF
Retail
-
Now

This retail/office space at Sunset Plaza on Court Street in Pekin is ready for a renovation and new tenants. T.I. is negotiable to get this unit prepared for your business' use and features ample parking, high traffic counts on Court Street (15,000+ ADT) and destination traffic throughout the plaza. This unit is currently built out with several storage rooms and a restroom.