Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    625 Perry Ave Peoria, IL 61603

    For Sale
    $42,000

    Prime Peoria location, two commercial units, apartment.

    Property size:
    6,112 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    307
    This 6,112 square foot commercial property, located at 625 N Perry Avenue in Peoria, Illinois, presents a remarkable investment opportunity at an asking price of $42,000. Situated in the East Village TIF District, the building offers a versatile layout ideal for a variety of uses. The main level comprises two distinct commercial spaces. One unit boasts a rich history as a gold/coin shop, while the adjacent unit was originally designed for cold storage or as a meat locker, showcasing its adaptable nature. Upstairs, a residential apartment provides additional income potential, featuring two bedrooms and one bathroom. While the property requires rehabilitation, its substantial size and prime location within the East Village TIF District offer significant upside for the right buyer. The building's existing infrastructure and zoning provide a solid foundation for a range of commercial ventures, making it an attractive prospect for both seasoned investors and those entering the market for the first time. The low purchase price makes this a particularly compelling opportunity to acquire a substantial property in a desirable area with significant redevelopment potential. This property is being sold as-is.

    Property Features for 625 Perry Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    6,112 SF
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Law Firm Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.58682
    Latitude
    40.70034

    Nearby Similar for Sale

    • $325,000
      5,228 SF

      Peoria Investment Property Package

      Two Peoria properties: quadraplex and commercial/residential with income potential.
      711 W Ridge Rd, Peoria, IL 61614
      View Details
    • $1,600,000
      Pending

      Underhill Apartments: Peoria Multifamily Investment

      20-unit multifamily property in Peoria with renovation and rent growth potential.
      1119 N Underhill St, Peoria, IL 61606
      View Details
    • $168,000
      1,648 SF

      Bradley University Investment Opportunity

      Multi-family property near Bradley University, ideal for student housing.
      1620 W Fredonia Ave, Peoria, IL 61606
      View Details
    • $550,000
      4,879 SF

      Bradley University Investment Portfolio

      Six-house portfolio near Bradley University with strong occupancy and cash flow.
      700 N Underhill St, Peoria, IL 61606
      View Details
    • $250,000
      Pending

      Updated Duplex in Peoria, IL

      Income-producing duplex with updates, spacious areas, and attached garages.
      1521-1523 W Daytona Dr, Peoria, IL 61614
      View Details
    • $107,000
      2,246 SF

      Peoria Multifamily Investment Opportunity

      Multi-family property with two units, ideal for investors.
      609 W Armstrong Ave, Peoria, IL 61606
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Prime Peoria location, two commercial units, apartment.
    Where is this commercial real estate located?
    The property is located at 625 Perry Ave Peoria, IL.
    What is the asking price?
    The asking price for this property is $42,000.
    Request Owner's contact information
    625 Perry Ave Peoria, IL 61603
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    625 Perry Ave
    Peoria, IL 61603
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    625 Perry Ave Peoria, IL 61603
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.