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    5947 Allen Rd Peoria, IL 61614

    Sponsored
    For Sale
    $300,000

    18 Acres, High Visibility, Near Medical Center

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 18.19-acre commercial land parcel presents a unique investment opportunity in Peoria, Illinois. Strategically located at 5947 N Allen Rd, this property boasts unparalleled visibility from major thoroughfares, Northmoor Road and War Memorial Drive, ensuring high traffic exposure for any commercial venture. The property's proximity to Midwest Orthopedics further enhances its desirability, offering potential synergy with healthcare-related businesses. A significant portion of the land, approximately two acres, has already been cleared, simplifying development and reducing initial site preparation costs. Access to the property is conveniently provided via Allen Road. The asking price for this expansive tract is $300,000, representing a compelling value for its size, location, and development potential. Zoned for commercial use (verification required), this property is ideal for a wide range of businesses seeking a high-profile location in a thriving area of Peoria. The property's size and strategic location make it suitable for various commercial developments, from retail and office spaces to medical facilities and light industrial uses. Detailed zoning information and potential development plans should be verified independently. This is a rare opportunity to acquire a substantial commercial land parcel in a prime Peoria location. Don't miss out on this exceptional investment prospect. The property is located in Peoria County, Illinois, with a zip code of 61614.

    Property Features for 5947 Allen Rd

    General Information

    Property type
    Land
    Lot Size
    792,356 SF

    HighLights

    • 18.19‑acre commercial land parcel in Peoria, IL.
    • Approximately 2 acres cleared.
    • Access from Allen Road.
    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 Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.6355526
    Latitude
    40.7613148

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    FAQs

    What type of property is this?
    Land - 18 Acres, High Visibility, Near Medical Center
    Where is this land located?
    The property is located at 5947 Allen Rd Peoria, IL.
    What is the asking price?
    The asking price for this property is $300,000.
    What are key features of this property?
    This property features: 18.19-acre commercial land parcel in Peoria, IL.; Approximately 2 acres cleared.; Access from Allen Road.
    (309) 693-3000
    Request Owner's contact information
    5947 Allen Rd 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
    5947 Allen Rd Peoria, IL 61614
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