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    7715 University St Peoria, IL 61614

    Sponsored
    For Lease
    Contact for pricing

    Prime Peoria location, 3,300 sq ft, high traffic.

    Lot size:
    3,300 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 3,300 square foot freestanding restaurant building, formerly a Steak 'n Shake, is available for sale or lease. Situated on a 1.03-acre lot at 7715 N University St in Peoria, Illinois (zip code 61614), this property enjoys a highly visible location just south of Pioneer Parkway in a thriving commercial corridor. The building benefits from a convenient single drive-thru lane, ample parking with 60 spaces, and a large pylon sign for excellent brand visibility. Daily traffic counts in this area reach 16,400 vehicles, ensuring significant exposure to potential customers. The C1 zoning allows for a variety of commercial uses. The property's strategic location places it near a cluster of established businesses, including McDonald's, Walgreens, and numerous car dealerships, along with other local and regional retail and office establishments. This presents a unique opportunity for a restaurant operator or investor seeking a well-positioned property in a high-traffic area of Peoria County. The property is ready for immediate occupancy or redevelopment, offering significant potential for growth and profitability.

    Property Features for 7715 University St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,300 SF

    Unit(s) available at that property

    Space
    Size
    3,300 SF

    HighLights

    • 3,300 SF freestanding restaurant building, formerly a Steak 'n Shake, available for sale or lease.
    • Located on a 1.03‑acre lot at 7715 N University St, Peoria, IL 61614, in a high‑traffic commercial corridor.
    • Features a drive‑thru, 60 parking spaces, and a pylon sign.
    • High visibility with 16,400 daily vehicle counts.
    • C1 zoning allows for various commercial uses.
    • Located near McDonald's, Walgreens, and car dealerships.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.621598038362
    Latitude
    40.781340291646

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    FAQs

    What type of property is this?
    Restaurant - Prime Peoria location, 3,300 sq ft, high traffic.
    Where is this restaurant located?
    The property is located at 7715 University St Peoria, IL.
    What are key features of this property?
    This property features: 3,300 SF freestanding restaurant building, formerly a Steak 'n Shake, available for sale or lease.; Located on a 1.03-acre lot at 7715 N University St, Peoria, IL 61614, in a high-traffic commercial corridor.; Features a drive-thru, 60 parking spaces, and a pylon sign.
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    7715 University St Peoria, IL 61614
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    Peoria, IL 61614
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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
    7715 University St Peoria, IL 61614
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