Description

3300 North Main Street is a fully occupied medical office property for sale in East Peoria, IL, within the Peoria submarket. The 20,316 SF building gives healthcare investors an occupied asset with a defined operating profile rather than a vacant space to lease.

Built in 1998, the 2-story building has 10,158 SF floor plates and 77 parking spaces. Its 3.52 acres give the building and parking a substantial site footprint, while 45,900 AADT puts the address in front of passing traffic. For a medical office investor, those physical details matter alongside occupancy: floor-plate size shapes how the building is organized, and parking serves patients, staff and visitors. The property is 100% occupied, so the acquisition is centered on an existing lease and its income rather than an initial leasing effort.

The asking price is $3,052,000, or $150.23 PSF, with $187,727 in NOI and a 6.15% cap rate. In-place rents are $9.24/SF/yr, and the 11 years of WALT gives a buyer a measure of the remaining lease commitment. The lease is Absolute Net, a material part of how an investor reads the relationship between income and property expenses. Together, the occupancy, lease term and operating figures position 3300 North Main Street as an income-focused medical office acquisition with a clear basis for underwriting.