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    3616 N Sheridan Rd Peoria, IL 61606

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    For Lease
    $399,000

    3.37 acres, zoned R-3, excellent visibility, redevelopment opportunity.

    Lot size:
    3.37 Acres

    Property Features for 3616 N Sheridan Rd

    General Information

    Lot size
    3.37 Acres

    Source: Joseph & Camper Commercial Agent Will Hayes

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    3.37 Acres on War Memorial

    This 3.37-acre property is located on War Memorial Drive and Sheridan Road. Zoned R-3, the site formerly housed a church. It features a large asphalt parking lot and is a flat parcel with all utilities available. Benefiting from excellent visibility on War Memorial Drive, the location sees 25,000 cars per day. This property presents a redevelopment opportunity. The owner is open to leasing the land for uses such as an outdoor sales yard or other creative applications.
    Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.6019825
    Latitude
    40.7314956

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    FAQs

    What type of property is this?
    Land - 3.37 acres, zoned R-3, excellent visibility, redevelopment opportunity.
    Where is this land located?
    The property is located at 3616 N Sheridan Rd Peoria, IL.
    What are key features of this property?
    This property features: - Excellent visibility from War Memorial Dr with 25,000 CPD; - **3.37 acres on War Memorial Dr and Sheridan Rd**; - Zoned R-3 offering redevelopment opportunity
    (309) 643-0717
    Request Owner's contact information
    3616 N Sheridan Rd Peoria, IL 61606
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    Peoria, IL 61606
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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
    3616 N Sheridan Rd Peoria, IL 61606
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