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    1916 Knoxville Ave Peoria, IL 61603

    Sponsored
    For Sale
    $449,000

    Prime Peoria location, 11,410 SF, vacant.

    Property size:
    11,410 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property, located at 1916 Knoxville Ave in Peoria, Illinois, presents a unique investment opportunity. The 11,410 square foot building, constructed in 1952 and renovated in 1975, is currently vacant and offers significant potential for redevelopment. The property is classified as Class B and features three buildings across two stories, with each floor encompassing 5,705 square feet. The main floor boasts large, open showroom areas, ideal for retail or adaptable to various uses. The upper level provides a blend of open space and private offices, catering to diverse business needs. Large windows along the Knoxville Avenue frontage provide abundant natural light. The property benefits from a highly desirable location, just one block from the new OSF St. Francis Midtown location and a half-mile from downtown Peoria. The sale includes a 0.20-acre residential parcel situated directly behind the main building, adding to the overall 0.73-acre lot size. A separate 0.59-acre parcel at 1907 N Dechman Ave is also available for sale, but separately. The property is zoned CG & R4, offering flexibility for various commercial and residential uses. The asking price is $449,000, translating to $39.35 per square foot. This is a single-tenancy property.

    Property Features for 1916 Knoxville Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    11,410 SF
    Class
    B
    Lot Size
    31,799 SF

    Building Details

    Year Built/Renovated
    1952/1975
    Buildings
    3
    Stories
    2
    Property Profile Location Intelligence

    Current Use by Public Records

    Cooper Hawaiian Antique Antique Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.593895943162
    Latitude
    40.710994332244

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    FAQs

    What type of property is this?
    Individual retail property - Prime Peoria location, 11,410 SF, vacant.
    Where is this individual retail property located?
    The property is located at 1916 Knoxville Ave Peoria, IL.
    What is the asking price?
    The asking price for this property is $449,000.
    Request Owner's contact information
    1916 Knoxville Ave Peoria, IL 61603
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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
    1916 Knoxville Ave Peoria, IL 61603
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