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    5015 Farmington Rd Peoria, IL 61604

    Sponsored
    For Sale
    $260,000

    2.75-acre Peoria commercial lot. High visibility.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional 2.75-acre commercial land parcel, located at 5015 W Farmington Road in Peoria, Illinois (zip code 61604), presents a unique investment opportunity. The property boasts a highly visible location directly adjacent to a Dollar General store, ensuring significant exposure for any future development. The lot is zoned for Retail, Residential, Industrial, and Commercial uses (Retail/RES/IND/COMM), offering considerable flexibility for a variety of projects. The land itself is generally level with some wooded areas. Existing utilities on-site include electricity, gas, water, and sewer, simplifying development plans. The property's APN is 17-02-103-010. While the current tax assessment reflects a larger parcel, a revised tax bill reflecting the 2.75-acre size is forthcoming. The Peoria Village is actively engaged in assisting buyers with potential zoning adjustments, providing further development opportunities. The possibility of acquiring additional acreage beyond the current 2.75 acres may also exist. This prime location and the village's collaborative approach make this a compelling investment opportunity for developers and entrepreneurs seeking a high-visibility site in a thriving area. Serious inquiries are encouraged.

    Property Features for 5015 Farmington Rd

    General Information

    Property type
    Land
    Lot Size
    119,790 SF

    HighLights

    • Level, partially wooded land.
    • Subject to easements and restrictions.
    • Utilities available on‑site: electricity, gas, water, and sewer.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.672755
    Latitude
    40.699024

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    FAQs

    What type of property is this?
    Land - 2.75-acre Peoria commercial lot. High visibility.
    Where is this land located?
    The property is located at 5015 Farmington Rd Peoria, IL.
    What is the asking price?
    The asking price for this property is $260,000.
    What are key features of this property?
    This property features: Level, partially wooded land.; Subject to easements and restrictions.; Utilities available on-site: electricity, gas, water, and sewer.
    (309) 687-5000
    Request Owner's contact information
    5015 Farmington Rd 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
    5015 Farmington Rd Peoria, IL 61604
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