Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2522 W Eugenie Ave Peoria, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Two-acre commercial land near major retailers and restaurants.

    Type:LAND
    Lot size:
    2.02 Acres
    Added:
    Aug 26, 2024
    Days on Market:
    613
    Last Refresh:
    Apr 5 at 11:17 pm

    Property Features for 2522 W Eugenie Ave

    General Information

    Standard status
    Active
    Lot size
    2.02 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Steve Reeves

    Listing agent Steve Reeves

    Listing office Joseph & Camper Commercial

    Listing date Aug 26, 2024

    Source Moodyscre

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

    All listing content including descriptions, pricing, images are the copyrighted material of Joseph & Camper Commercial

    Overview

    Corner Lot Near Retail Centers

    This 2-acre lot is available for sale and is located on the corner of Rockwood and Eugenie Ave. It is adjacent to Avanti's Restaurant and a multi-tenant retail/office building. Major retail shopping centers are located on both sides of the property. Nearby retailers include Target, Lowes, Best Buy, PetSmart, Binnys, Ulta, Michaels, and Barnes & Noble, as well as numerous restaurants. The area has 62,473 residents within a 5-mile radius, with a total population of 150,940.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.5962
    Latitude
    40.6852

    Nearby Similar for Sale

    • $475,000

      Peoria Commercial Property for Sale

      Landmark property ready for a visionary new owner.
      1321 N PARK Road, Peoria, IL 61604
      View Details
    • $570,000

      Four-Unit Commercial Building in Peoria

      Four-unit commercial building with state contract leases and vacancies.
      1115 N North Street, Peoria, IL 61606
      View Details
    • $150,000

      Commercial Property in Peoria, Illinois

      Well-maintained commercial property with versatile potential in a convenient location.
      6216 N SHERIDAN Road, Peoria, IL 61614
      View Details
    • $79,900

      Income-Generating Duplex in Peoria

      Fully occupied duplex with income potential and value-add opportunities.
      1823-1825 N LINN Street, Peoria, IL 61604
      View Details
    • $70,000

      Versatile Commercial Building in Peoria

      Adaptable commercial building suitable for various business uses.
      804 E FORREST HILL Avenue, Peoria, IL 61603
      View Details
    • $500,000

      Commercial Property with Multiple Income Streams

      Versatile commercial property featuring storage units, workshop, and leased car lot.
      3523 W FARMINGTON Road, Peoria, IL 61604
      View Details
    • $22,000

      Buildable Lot in Norwood

      Buildable lot in a peaceful, established Peoria neighborhood.
      1636 N NORWOOD Boulevard, Peoria, IL 61604
      View Details
    • $22,000

      Buildable Lot in Peaceful Norwood

      Buildable lot in a quiet, established Peoria neighborhood.
      1401 N BOYD Avenue, Peoria, IL 61604
      View Details
    • $99,000

      Peoria Duplex with Income Potential

      Up/down duplex in Peoria with tenant and vacant unit.
      1617 NE MONROE Street, Peoria, IL 61603
      View Details
    • $99,900

      Peoria Multifamily Income Opportunity

      Two-unit property with income potential in a convenient location.
      511 W LOUCKS Avenue, Peoria, IL 61603
      View Details
    • $75,000

      Commercial Land For Sale

      Commercial land available in Peoria, Illinois.
      1003-07-13 NORTH Street, Peoria, IL 61604
      View Details
    • $168,000

      Investment Opportunity Near Bradley University

      Multi-family property near Bradley University, ideal for student housing.
      1620 W FREDONIA Avenue, Peoria, IL 61606
      View Details

    FAQs

    What type of property is this?
    Land - Two-acre commercial land near major retailers and restaurants.
    Where is this land located?
    The property is located at 2522 W Eugenie Ave Peoria, IL.
    What is the asking price?
    The asking price for this property is $399,900.
    What are key features of this property?
    This property features: High‑traffic location adjacent to Avanti's Restaurant and retail/office building.; Located on the corner of Rockwood and Eugenie Ave.; 2‑acre lot available for sale.
    (309) 550-0139 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Steve Reeves
    Learn More
    Request Owner's contact information
    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.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!