Industrial Properties in Peoria, Illinois, offer a unique investment opportunity for those looking to capitalize on the city's rich history and diversified economy. As the oldest permanent European settlement in the state, Peoria has evolved from its past ties to the whiskey industry to become a hub for manufacturing industries. Industrial Properties in Peoria represent a range of investments, from warehouses and distribution centers to manufacturing facilities and research and development spaces. With its strategic location on the Illinois River, Peoria provides easy access to transportation infrastructure, including the General Wayne A. Downing Peoria International Airport, the Greater Peoria Mass Transit District, and several state routes and railroads. The city's amenities, such as the Peoria Civic Center and the Peoria Park District, also make it an attractive location for businesses and residents alike. Additionally, Peoria is home to several major corporations, including Caterpillar, CEFCU, and OSF Healthcare, which contribute to the city's economic growth. With 5 Industrial Properties for sale in Peoria, investors have a range of options to choose from.
Peoria's Industrial Properties offer a unique blend of history and modernity, with many properties located in historic districts or featuring renovated industrial spaces. In addition to Industrial Properties, Peoria also offers a range of other property types, including Warehouses, which provide ample storage and distribution space; Land, ideal for development or investment; Apartment Buildings, offering a steady stream of rental income; and Commercial Real Estate, perfect for businesses looking to establish a presence in the city. With its diverse economy and rich history, Peoria is an attractive location for businesses and investors alike. The city's average price per square foot for Industrial Properties is $978 USD, with an average size of 24,659 square feet and a largest size of 69,758 square feet. The average cap rate for Industrial Properties in Peoria is 7.91%. Whether you're looking to invest in Industrial Properties or explore other opportunities, Peoria has something to offer.
What is the average price per square foot for industrial properties in Peoria?
The average price per square foot for industrial properties in Peoria is $978 USD.
How do location and transportation access affect industrial property values?
Location and transportation access play a significant role in determining industrial property values in Peoria, as they directly impact the ease of doing business, logistics, and supply chain management.
- Proximity to major transportation hubs, such as General Wayne A. Downing Peoria International Airport and the Greater Peoria Mass Transit District, can increase property values due to the convenience and cost savings they offer.
- Access to major highways, including Illinois Route 6, Illinois Route 8, Illinois Route 29, Illinois Route 40, Illinois Route 91, and Illinois Route 116, can also boost property values by reducing transportation costs and increasing connectivity to regional markets.
- In Peoria, industrial properties with easy access to rail transportation, provided by common carrier railroads like BNSF, Canadian National, Norfolk Southern, and Union Pacific, can command higher values due to the increased efficiency and competitiveness they offer.
