Quantum Real Estate Advisors Facilitates $4.4M Sale Of Peoria Retail Center
5116 N Big Hollow Rd, Peoria, IL, 61615
$4,400,000
Building Size
—
Asset Type
—
Closing
Nov 22, 2023
About this deal
AI
The retail strip center located at 5116 N. Big Hollow Road in Peoria, Illinois has been sold for $4.4 million. The property, anchored by Aspen Dental and Vitamin Shoppe, was originally built in 2010 by a Miami-based developer. Zack Hilgendorf of Quantum Real Estate Advisors represented the seller in the transaction. The center was acquired by a buyer based in Chicago.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,400,000.00
- Market: Peoria
- Seller's Representative: Zackary (Zack) Hilgendorf (Quantum Real Estate Advisors)
- Buyer: Chicago-based buyer
The sale of the retail strip center in Peoria for $4.4 million was brokered by Quantum Real Estate Advisors. The center's anchor tenants, Aspen Dental and Vitamin Shoppe, were essential in attracting the attention of the Chicago-based buyer. The involvement of a Miami-based developer in the center's original construction adds a layer of history to the transaction.
Peoria CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93