Office Properties in Peoria, Illinois, offer a unique investment opportunity for those looking to tap into the city's rich history and diverse economy. As the oldest permanent European settlement in the state, Peoria has a strong foundation for businesses to grow and thrive. Office Properties in Peoria can represent a range of investments, from small startups to large corporations, and can cater to various industries such as manufacturing, healthcare, and education. With its strategic location on the Illinois River, Peoria offers easy access to transportation infrastructure, including the General Wayne A. Downing Peoria International Airport and several state routes. Additionally, the city is home to esteemed institutions like Illinois Central College and Bradley University, providing a skilled workforce and a strong foundation for businesses. The city's scenic beauty, cultural attractions, and outdoor recreational activities also make it an attractive location for businesses and employees alike.
With 11 Office Properties available for sale in Peoria, investors have a range of options to choose from. The average price per square foot for Office Properties in Peoria is $114 USD, with an average size of 39,496 square feet. The largest Office Property available for sale in Peoria spans 250,426 square feet. In addition to Office Properties, Peoria also offers a range of other commercial property types, including Commercial Real Estate, Apartment Buildings, Shopping Centers, and Hotels. For instance, Commercial Real Estate in Peoria can provide investors with opportunities in retail, industrial, and office spaces. Apartment Buildings in Peoria offer a range of options for residential investors, from small complexes to large apartment communities. Shopping Centers in Peoria provide a hub for retail activity, while Hotels in Peoria cater to the city's growing tourism industry. Overall, Peoria's diverse economy and range of commercial property types make it an attractive location for investors.
What is the average price per square foot for office properties in Peoria?
The average price per square foot for office properties in Peoria is $114 USD.
What should I know about office property classifications (Class A, B, C)?
When searching for office properties for sale in Peoria, it's essential to understand the classification system, which categorizes properties based on factors like age, condition, and amenities, to ensure you find the right fit for your business needs.
- Class A office properties are typically modern, high-rise buildings with top-notch amenities, prime locations, and high-quality finishes, often attracting high-end tenants and commanding higher rental rates.
- Class B office properties are older, yet still well-maintained, with functional layouts and adequate amenities, appealing to a broader range of tenants and offering more affordable rental rates.
- Class C office properties are often older, with outdated designs and limited amenities, typically attracting smaller businesses or startups on a budget, and offering the most affordable rental rates.
