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    320 Western Ave Peoria, IL 61604

    Sponsored
    For Sale
    $149,995

    Vacant Retail Building, 3775 sq ft

    Property size:
    3,775 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 3,775 square foot retail storefront, located at 320 & 328 N Western Ave in Peoria, Illinois, presents a compelling investment opportunity. Currently vacant, this property offers significant potential for a variety of retail uses. Situated on a highly visible corner lot in Peoria County (zip code 61604), the building benefits from excellent street frontage and ample onsite parking. The 0.11-acre lot provides convenient access for customers and employees. The building's previous use as a dry cleaning establishment suggests the presence of existing infrastructure suitable for similar businesses, although the fixtures and fittings are available separately. The asking price is $149,995. This property is ideal for an entrepreneur seeking a well-located, established space to launch or expand their business. Its prominent location and substantial square footage make it a rare find in the Peoria market. The property's vacant status allows for immediate occupancy and customization to suit the buyer's specific needs. Serious inquiries are encouraged to explore this promising retail investment. The property's coordinates are 40.691896 latitude and -89.622684 longitude.

    Property Features for 320 Western Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    3,775 SF
    Lot Size
    4,792 SF

    HighLights

    • 3,775 SF retail building at 320 & 328 N Western Ave, Peoria, IL.
    • Vacant, offering immediate occupancy.
    • Corner lot with high visibility.
    • Ample onsite parking.
    • Fixtures, fittings, and equipment (FFE) available separately.
    • Asking price: $149,995.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply 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
    -89.622684
    Latitude
    40.691896

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    FAQs

    What type of property is this?
    Individual retail property - Vacant Retail Building, 3775 sq ft
    Where is this individual retail property located?
    The property is located at 320 Western Ave Peoria, IL.
    What is the asking price?
    The asking price for this property is $149,995.
    What are key features of this property?
    This property features: 3,775 SF retail building at 320 & 328 N Western Ave, Peoria, IL.; Vacant, offering immediate occupancy.; Corner lot with high visibility.
    Request Owner's contact information
    320 Western Ave Peoria, IL 61604
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    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
    320 Western Ave Peoria, IL 61604
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