Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    7715 University St Peoria, IL 61614

    For Sale
    $599,000

    Prime Peoria restaurant space, 3,300 SF, 1.03 acres.

    Property size:
    3,300 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This vacant, 3,300-square-foot restaurant building presents a compelling investment opportunity in Peoria, Illinois. Located at 7715 N University St, this single-story, Class B property sits on a 1.03-acre lot and boasts excellent visibility on a high-traffic commercial corridor with 16,400 cars passing daily. Built in 1975, the building features a single drive-thru lane, ample parking (56 spaces), and a large pylon sign for maximum brand exposure. The property is zoned C1 and is ideal for a variety of restaurant concepts. Its convenient location places it near major businesses such as McDonald's, Walgreens, and numerous car dealerships, ensuring high foot and vehicle traffic. The former Steak 'n Shake location offers a ready-made space with existing infrastructure, minimizing initial setup costs. This freestanding building offers a unique chance to establish a thriving restaurant business in a well-established commercial area of Peoria. The property is currently vacant and ready for immediate occupancy. Tax records confirm the 3,300 square foot building size and lot acreage.

    Property Features for 7715 University St

    General Information

    Property type
    Restaurants
    Square Feet
    3,300 SF
    Class
    B
    Lot Size
    44,867 SF

    Building Details

    Year Built
    1975
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • $599,000 asking price for this vacant, 3,300 SF retail building.
    • Located at 7715 N University St, Peoria, IL 61614, on a 1.03‑acre lot.
    • Single‑story, Class B building, built in 1975, with C1 zoning.
    • Features a single drive‑thru lane and 56 parking spaces.
    • High visibility location on a major commercial corridor with 16,400 cars per day, near McDonalds and Walgreens.
    Property Profile Insight Report 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
    -89.621400389377
    Latitude
    40.78150198631

    Nearby Similar for Sale

    • $325,000
      5,228 SF

      Peoria Investment Property Package

      Two Peoria properties: quadraplex and commercial/residential with income potential.
      711 W Ridge Rd, Peoria, IL 61614
      View Details
    • $1,600,000
      Pending

      Underhill Apartments: Peoria Multifamily Investment

      20-unit multifamily property in Peoria with renovation and rent growth potential.
      1119 N Underhill St, Peoria, IL 61606
      View Details
    • $168,000
      1,648 SF

      Bradley University Investment Opportunity

      Multi-family property near Bradley University, ideal for student housing.
      1620 W Fredonia Ave, Peoria, IL 61606
      View Details
    • New
      $550,000
      4,879 SF

      Bradley University Investment Portfolio

      Six-house portfolio near Bradley University with strong occupancy and cash flow.
      700 N Underhill St, Peoria, IL 61606
      View Details
    • $250,000
      Pending

      Updated Duplex in Peoria, IL

      Income-producing duplex with updates, spacious areas, and attached garages.
      1521-1523 W Daytona Dr, Peoria, IL 61614
      View Details
    • $107,000
      2,246 SF

      Peoria Multifamily Investment Opportunity

      Multi-family property with two units, ideal for investors.
      609 W Armstrong Ave, Peoria, IL 61606
      View Details

    FAQs

    What type of property is this?
    Restaurant - Prime Peoria restaurant space, 3,300 SF, 1.03 acres.
    Where is this restaurant located?
    The property is located at 7715 University St Peoria, IL.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: $599,000 asking price for this vacant, 3,300 SF retail building.; Located at 7715 N University St, Peoria, IL 61614, on a 1.03-acre lot.; Single-story, Class B building, built in 1975, with C1 zoning.
    Request Owner's contact information
    7715 University St Peoria, IL 61614
    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.
    7715 University St
    Peoria, IL 61614
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.