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    315-317 Main St Peoria, IL 61602

    Sponsored
    For Sale
    $850,000

    Mixed-use building, prime Main Street location.

    Property size:
    8,600 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    342
    This exceptional 8,600 square foot mixed-use commercial property is situated at 315-317 Main Street in Peoria, Illinois, offering a fantastic investment opportunity. The building boasts two attractive Main Street storefronts directly across from the courthouse, providing unparalleled visibility and high foot traffic. This prime location is ideal for a variety of retail or office businesses. The property's versatility extends beyond the ground floor, featuring three spacious rental units above, currently used for mid-length rentals. This provides a significant additional income stream for the owner. The existing business operations on-site present an opportunity to take over established ventures, offering a seamless transition and potential for immediate revenue generation. The property's size and location make it suitable for a range of uses, from expanding an existing business to establishing a new enterprise. The high-profile location and existing rental income make this a compelling investment opportunity in a thriving Peoria commercial district. The building's substantial square footage offers ample space for various business needs, while the multiple income streams ensure a robust return on investment. Interested parties are encouraged to inquire for further details regarding the potential business opportunities available. This is a rare chance to acquire a well-established, high-traffic commercial property in a desirable location.

    Property Features for 315-317 Main St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    8,600 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Auto Repair Shop Daycare Center Wholesale Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.59035
    Latitude
    40.69205

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    FAQs

    What type of property is this?
    Commercial real estate - Mixed-use building, prime Main Street location.
    Where is this commercial real estate located?
    The property is located at 315-317 Main St Peoria, IL.
    What is the asking price?
    The asking price for this property is $850,000.
    Request Owner's contact information
    315-317 Main St Peoria, IL 61602
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    Peoria, IL 61602
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    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
    315-317 Main St Peoria, IL 61602
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