Peoria, IL Commercial Real Estate for Lease and Sale

Explore 170 listings of Peoria commercial real estate to find the best space for your business.

2901 N Prospect Rd

2901 N Prospect Rd, East Bluff, Peoria, IL
Property

Retail

2,696 SF
For Sale

$299,900
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Western Dry Cleaner

320 & 328 Western Avenue, Downtown Peoria, Peoria, IL
Property

Retail

3,776 SF
For Sale

$149,995
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1034 NE Adams St

1034 NE Adams St, North Valley, Peoria, IL
Property

Retail

32,540 SF
For Sale

$950,000
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Becker Building

419 Main Street, Downtown Peoria, Peoria, IL
Property

Office

229,040 SF
Availability

8 Spaces

26,456 SF
Year Built

1993
For Lease

$18.00/SF/YR
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3308 W Chartwell Rd

3308 W Chartwell Rd, Northwest Peoria, Peoria, IL
Property

Office

4,000 SF
Availability

1 Space

4,000 SF
For Lease

$13.00/SF/YR
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3915 N Sheridan Rd.

3915 N Sheridan Rd., Central Peoria, Peoria, IL
Property

Retail

12,000 SF
Availability

1 Space

850 SF
For Lease

$995.00/MO
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7131 N Knoxville Ave

7131 N Knoxville Ave, North Peoria, Peoria, IL
Property

Office

14,427 SF
Availability

1 Space

1,350 SF
Year Built

1950
For Lease

$1,500.00/MO
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7802 N UNIVERSITY ST

7802 N UNIVERSITY ST, North Peoria, PEORIA, IL
Property

VacantLand
For Sale

Negotiable
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3311 N. Sterling Ave.

3311 N. Sterling Ave., Central Peoria, Peoria, IL
Property

Retail

86,975 SF
Availability

4 Spaces

7,695 SF
For Lease Contact for pricing
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University Plaza

3523 N University St, Central Peoria, Peoria, IL
Property

Retail

36,350 SF
Availability

1 Space

6,000 SF
For Lease

$10.00/SF/YR
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The Shoppes at Grand Prairie

Route 91 & War Memorial Drive, Northwest Peoria, Peoria, IL
Property

Retail

468,520 SF
Availability

14 Spaces

151,216 SF
For Lease Contact for pricing
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Allen Road @ Walton Road, Peoria, IL

8915 N Allen Rd, Northwest Peoria, Peoria, IL
Property

Land

1.35 Acre
For Sale Contact for pricing
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820 NE Jefferson Ave

820 NE Jefferson Ave, North Valley, Peoria, IL
Property

Retail

7,378 SF
Availability

1 Space

7,378 SF
For Lease

$9.50/SF/YR
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Perkins Restaurant & Bakery

1810 W War Memorial Dr, Central Peoria, Peoria, IL
Property

Retail

5,935 SF
Year Built

1993
For Sale

$2,666,483
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Frequently Asked Questions

Commercial real estate is a broad category that includes a high variety of space types designed to meet the needs of various industries of the local economy and their specialized subsectors, as presented in our real estate 101 guide to types of commercial real estate. However, there are three main categories that you are most likely to come across: office, retail, and industrial space.

Modern office space is typically organized over large floor plates bound by high ceilings and large windows for an abundance of natural light and is located in transit-oriented developments with good access to multiple modes of transportation, so as to facilitate employee commute. The Peoria commercial real estate market incorporates 1,986,818 square feet of office space across 60 buildings.

Office buildings can also accommodate coworking spaces, which are shared office options that typically cater to the needs of small, startup businesses that require flexible workspaces, a concentration of amenities, and services that can be accessed on an occasional or short-term basis.
Retail space includes shopping malls, department stores, street retail, or specialty stores dedicated to a narrow range of products. Such properties are typically located in high foot-traffic and/or car traffic areas, to facilitate customer access. The Peoria commercial real estate market includes 3,007,582 square feet of retail space in a variety of settings.
Industrial property most often serves businesses operating in manufacturing or logistics and generally consists of large open spaces located within good access to roads, railways, freight airports or regional water ports. Industrial space listings can include warehouses, manufacturing plants, distribution centers, flexible industrial space, or even data center facilities. Across the Peoria market, there is a total of 967,078 square feet of industrial property.

The listing inventory in Peoria incorporates commercial real estate for lease and for sale of almost all property types and subtypes. However, you’ll find some categories offer more rental or investment opportunities than others.

The largest share of commercial real estate space for lease in Peoria is represented by Retail space, which accounts for 871,923 square feet of available listings. Office space available in Peoria adds up to 508,451 square feet.

Meanwhile, most of the listings of commercial property for sale in Peoria are in the Office category.

The price of renting or buying commercial real estate is influenced by a variety of factors, including: the property type (for example, office space is priced higher than other property types in most locations); the condition and asset class rating (property rated class A or above will typically command a higher price than lower grade classifications); the quality or the development potential of the property location; whether or not there is high demand for the type of commercial asset in question; and what the state of supply is relative to demand.

The average rent for commercial real estate space listed for lease in Peoria is $13.87 per square foot. However, this value does not offer enough perspective on its own, as you will find significant variation in prices across property types, property classes, and location, as well as other impacting factors. For instance, rent per square foot of office space in Peoria can vary greatly depending on the rating of the property from Class A to Class C, as well as across the city depending on the location of the asset.

Whether you are looking for commercial real estate for lease or commercial property for sale, the best choice of location depends on the factors that are most relevant to your business strategy. A good thing to look for at the start, however, is the areas of the city that have the highest concentration of your preferred type of property, as these areas are generally well connected to the amenities and points of interest that are most relevant to each property type.

As such, there are several areas that you could consider to be the best location for commercial real estate in Peoria, depending on the property type you are interested in. The highest concentration of commercial space listings of any kind in Peoria is in the Central Peoria neighborhood. But if we look at each commercial property type, we find that for office space, the best location is the Central Peoria area.

Meanwhile, retail space opportunities are most abundant in the Central Peoria submarket. Alternatively, if you are looking for warehouse or other industrial space, consider looking at listings in South Peoria.

Select your preferred property type from the search filters menu at the top of the search page and then navigate the interactive map for a better view of commercial real estate availability in the locations most suited to your needs.

Regardless of whether buying or leasing commercial space is a new experience for you, there are significant benefits to working with a commercial real estate broker. In addition to saving you time and money, an experienced broker will contribute specialist knowledge of the local market, the property type you need representation for, and will handle negotiations on your behalf in your best interest.

To start, it is important for you to have a good understanding of what kind of broker you need. For instance, there are differences between a tenant broker and a listing broker. Also important at the start is to have a clear idea of what kind of space (or tenant) you are looking for and what (if any) particular needs and requirements you might have. And, while it is good to get a referral, you should interview several brokers to better gauge who you feel would best represent your interests.

CommercialCafe hosts listings from some of the most trusted commercial real estate brokerages in the country. Use the contact form available on each listing page or the contact details for the property representatives to reach out and start your search!

The profitability of a commercial real estate investment depends on a multitude of factors working together. These factors include the quality of the asset itself — which itself includes aspects such as location, property class, amenities, and the quality of the property management — to the local market conditions, the state of the local economy, the demand for that particular type of commercial property, and of course the costs of owning and maintaining it relative to what leasing rate or sale price you get from the property. Asking rents in the city went as high as $98.08 per square foot. In particular, the property type commanding the highest lease rates in Peoria was Retail space.

The average size of a commercial property in Peoria depends greatly on the property type and the location — geographical possibilities and zoning allowances have significant influence on how big developers can build. While there are outliers that break height or volume records in the city, we can look at some average sizes by property use:

In Peoria, the average size of an office property is 34,256 square feet.
Retail properties here incorporate an average of 63,992 square feet.
Industrial space in Peoria is in buildings that are, on average 64,472 square feet in size.

Peoria, IL Currently Available Listings

Commercial Space for Lease Breakdown

Commercial real estate listings for rent in Peoria currently add up to 1,827,710 square feet. The market offers 44 active office listing(s), which amount to 512,787 square feet and account for 46% of commercial spaces on the market. Local retail availability includes 882,322 square feet across 39 retail space(s). Industrial space for rent opportunities in Peoria amount to 417,526 square feet across a total of 9 warehouse and other industrial listing(s).

Property Type	Count of Listings	Total SF
Office	44	512,787
Retail	39	882,322
Industrial	9	417,526
Other	2	15,075

Commercial Space for Sale Breakdown

What’s more, if you are interested in making an investment in the local market, you can also find commercial real estate for sale in Peoria, IL. Currently, there is 1,738,267 square feet of commercial property for sale here , which includes 17 office building(s) for sale , 15 retail investment opportunity listing(s) , and 6 listing(s) of industrial real estate property for sale .

Property Type	Count of Listings	Total SF
Office	17	458,620
Retail	15	193,160
Industrial	6	307,606
Other	38	778,881

Peoria, IL Commercial Real Estate for Lease and Sale

2901 N Prospect Rd

Western Dry Cleaner

1034 NE Adams St

Becker Building

3308 W Chartwell Rd

3915 N Sheridan Rd.

7131 N Knoxville Ave

7802 N UNIVERSITY ST

3311 N. Sterling Ave.

University Plaza

The Shoppes at Grand Prairie

Allen Road @ Walton Road, Peoria, IL

820 NE Jefferson Ave

Perkins Restaurant & Bakery

Frequently Asked Questions

Peoria, IL Currently Available Listings

Commercial Space for Lease Breakdown

Commercial Space for Sale Breakdown

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Peoria, IL Commercial Real Estate for Lease and Sale

Frequently Asked Questions

What are the different types of commercial real estate?

What types of commercial real estate are available in Peoria, IL?

What factors affect the price of commercial real estate in Peoria, IL?

What is the average rent for commercial space in Peoria, IL?

What are the best areas for commercial real estate in Peoria, IL?

How do I find a good commercial real estate broker?

What is the most profitable commercial real estate?

What is the average size of a commercial property in Peoria, IL?

Peoria, IL Currently Available Listings

Commercial Space for Lease Breakdown

Commercial Space for Sale Breakdown

Other Popular Searches

Popular Coworking Searches

Popular Office Searches

Popular Retail Searches

Popular Industrial Searches

About us