Light industrial and commercial business center includes distribution, small manufacturing, service businesses for sale in Peoria, Illinois.
Total Sales: $804,805
Cash Flow: $659,000
FFE: $35,000 (Included in Price)
Real Estate: $7,200,000 (Included in Price)
Reason For Sale:
Semi-retire or full retirement.
Training & Support:
Seller will provide as much training as needed and as agreed during the purchase process.
Year Established: 22
Absentee Owner?: Yes
Type of Location: Light Industrial and commercial
Square Footage: 154,610
The land area is approximately 11.72 acres. The improvement size is approximately 154,610 sq ft including serval buildings with a diversified tenant base.
The approximate cash flow is after RE Taxes have been paid etc.
Fully occupied northern-central Illinois business park for sale in an ideal location for access to major highways and other routes in all directions. Full dock access for all tenants if needed with 154,600 sq ft (approx) including covered dock area.
The business park has cash flow in the 659-725k range and is operated from a mostly absentee ownership standpoint. They have one person who is available to keep an eye on the property for ownership allowing the owner to have a very flexible lifestyle even though they are basically managing the business park themselves with minimal assistance needed due to its very low touch requirements.
This commercial/light industrial business park serves distribution, small manufacturing or machining, installation services, repair services, contracting offices, warehousing, storage, sales offices, etc.
This is a real estate opportunity as far as major long-term income-generating assets are concerned with a property management component as far as the managing entity is concerned. There are several buildings that are single or multi-tenant units of various sizes as designed for rental purposes. The rent has not been increased much over the years so that is a huge upside for a new owner to phase in a significant increase over time with an already extremely profitable income-producing business park. The units are fully occupied now and have been consistent since the development of the business park started in the mid-late 1990s.
Current rent roll gross revenue is $804,805 (approx).
Very long term tenants due to full dock access, location, and historical satisfaction with the property. Nothing of this exact size, scope, and exceptional location for easy access to all major routes and highways.
There remains some open area of approximately one acre that can still be developed for additional building expansion on this property. Increased rent amounts can be phased in as very limited if any increases have occurred for almost all the tenants over the years.