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    901 Lake Ave Peoria, IL 61604

    Sponsored
    For Lease
    $6 SF/Yr

    Large retail space, redevelopment underway

    Lot size:
    159,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional retail opportunity presents 27,000 square feet of vacant space within a 159,000-square-foot property undergoing complete redevelopment at 901 W. Lake Avenue in Peoria, Illinois (zip code 61604). Located in Peoria County, this multi-tenant property, built in 1971, offers significant potential for a variety of retail businesses. The redevelopment plan includes a substantial portion (approximately 90,000 square feet) dedicated to climate-controlled self-storage units managed by Cubesmart, ensuring high foot traffic and visibility for neighboring tenants. A popular local establishment, Leaves N Beans, will also occupy 7,500 square feet on the opposite end of the available space, creating a synergistic retail environment. This prime location provides excellent access and exposure for businesses seeking a prominent presence in the Peoria market. The substantial size of the available space allows for flexibility in design and layout to accommodate a wide range of retail concepts. This is a unique chance to be part of a revitalized commercial center in a thriving community. The property's strategic location and the ongoing redevelopment project promise a strong return on investment for the right tenant. Contact us today to learn more about this exciting opportunity.

    Property Features for 901 Lake Ave

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    159,000 SF
    Total Rate
    86125

    Building Details

    Year Built
    1971

    Unit(s) available at that property

    Space
    Available Space
    Size
    27,000 SF
    Rate per SF
    $6

    HighLights

    • 27,000 SF of vacant retail space.
    • Open retail space available.
    • Rear loading area with dock door(s).
    Property Profile Location Intelligence

    Current Use by Public Records

    CubeSmart Self Storage Self-Storage Facility Evergreen Square Shopping Mall

    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
    -89.603468
    Latitude
    40.741844

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    FAQs

    What type of property is this?
    Retail property - Large retail space, redevelopment underway
    Where is this retail property located?
    The property is located at 901 Lake Ave Peoria, IL.
    What is the lease rate?
    The lease rate is $6 SF/Yr.
    What are key features of this property?
    This property features: 27,000 SF of vacant retail space.; Open retail space available.; Rear loading area with dock door(s).
    Request Owner's contact information
    901 Lake Ave Peoria, IL 61604
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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
    901 Lake Ave Peoria, IL 61604
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