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3101-3211 W Harmon Hwy
Peoria, IL 61604
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Approved Conversion Opportunity: Approval for approximately 700 units of climate controlled and drive-up self storage.
- Expansion Potential: Additional land allows for future drive-up phases and increased rentable square footage.
- Value-Add Upside: Capitalize on Peoria’s strong storage demand through redevelopment and lease-up growth.
- Income in Place: Existing retail tenants generate revenue during planning and construction.
- Strategic Peoria Location: High-visibility site along W Harmon Highway near residential neighborhoods and major corridors.
EXECUTIVE SUMMARY
3101 W Harmon Highway in Peoria, Illinois offers a unique opportunity to acquire a retail property with immediate income and a clear path to value creation through self storage conversion. The property has received special use permit approval for the conversion of the existing vacant retail space into modern, climate-controlled self storage, along with drive-up units in the outlot area.
This strategic redevelopment provides investors with both steady cash flow from current retail tenants and substantial upside through repositioning and expansion. Featuring prominent frontage along W Harmon Highway, easy access to major roadways, and close proximity to Bradley University and surrounding residential neighborhoods, the property is ideally situated to capture the rising demand for
self storage in the Peoria market.
This strategic redevelopment provides investors with both steady cash flow from current retail tenants and substantial upside through repositioning and expansion. Featuring prominent frontage along W Harmon Highway, easy access to major roadways, and close proximity to Bradley University and surrounding residential neighborhoods, the property is ideally situated to capture the rising demand for
self storage in the Peoria market.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
84,346 SF
Building Class
C
Year Built
1960
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.15
Lot Size
12.86 AC
Zoning
C2 - Commercial
Parking
100 Spaces (1.19 Spaces per 1,000 SF Leased)
Frontage
653’ on W Harmon Hwy
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $907,560 | |
| Land Assessment | $134,220 | Total Assessment | $1,041,780 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$134,220
Improvements Assessment
$907,560
Total Assessment
$1,041,780
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