Penske Truck Leasing – East Peoria

Penske Truck Leasing occupies this 3,750-square-foot truck rental and service facility on approximately 4.58 acres at 710 High Point Lane in East Peoria. Offered at $700,000, the property generates $39,816 in annual net operating income, representing a 5.68% capitalization rate and a price of approximately $186.67 per square foot.

The corporate-backed lease is structured as absolute triple net and runs through October 31, 2027. Penske is responsible for the roof, parking areas, HVAC, common-area maintenance, real estate taxes, and insurance, leaving no ongoing landlord obligations. The tenant has operated at the site since 2006, has exercised three renewal options, and retains one additional three-year option with a 9.15% rent increase at renewal.

The M-1-zoned property combines a compact service building with a substantial land component suited to fleet parking, vehicle circulation, and outdoor operations. Its established use, long operating history, corporate guaranty, and clearly defined lease terms provide investors with an occupied industrial service asset at a low basis.