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    4816 University St Peoria, IL 61614

    Sponsored
    For Sale
    $3,300,000

    Vacant 31,250 SF Shopping Center

    Property size:
    31,250 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 31,250 square foot vacant shopping center presents a remarkable investment opportunity in Peoria, Illinois. Located at 4816 N University St, this property boasts a prime location in central Peoria, conveniently situated near the intersection of University and Glen Avenues. The property benefits from a large parking lot, an open floor plan, and excellent visibility. Its strategic placement offers easy access to major roadways and interstates, ensuring high traffic flow and accessibility for potential tenants. The property sits on a 2.79-acre lot and is priced at $105.60 per square foot. The surrounding area features a thriving mix of retail shops, restaurants, and office complexes, creating a strong commercial environment. This location is further enhanced by its proximity to Schnuck's and the Metro Centre Shopping Center, providing significant synergy and drawing substantial foot traffic. The vacant status offers a blank canvas for a wide range of retail concepts, allowing for customization and tailored development to meet specific business needs. This is a rare opportunity to acquire a well-positioned, sizable retail space in a bustling Peoria commercial district. The property's size, location, and potential make it an ideal investment for discerning buyers seeking a high-return opportunity in a thriving market.

    Property Features for 4816 University St

    General Information

    Property type
    Lifestyle centers
    Square Feet
    31,250 SF
    Lot Size
    121,532 SF

    HighLights

    • $3,300,000 asking price for a vacant 31,250 SF retail shopping center.
    • Located in Peoria, IL at 4816 N University St, on a 2.79‑acre lot.
    • Features an open floor plan, large parking lot, and central location with convenient interstate access.
    • Situated near Schnuck's and The Metro Centre Shopping Center, in a retail corridor with restaurants and office complexes.
    • Price per square foot is $105.60.
    Property Profile Location Intelligence

    Current Use by Public Records

    Spirit Halloween Costume Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon 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
    -89.610383
    Latitude
    40.746414

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    FAQs

    What type of property is this?
    Lifestyle center - Vacant 31,250 SF Shopping Center
    Where is this lifestyle center located?
    The property is located at 4816 University St Peoria, IL.
    What is the asking price?
    The asking price for this property is $3,300,000.
    What are key features of this property?
    This property features: $3,300,000 asking price for a vacant 31,250 SF retail shopping center.; Located in Peoria, IL at 4816 N University St, on a 2.79-acre lot.; Features an open floor plan, large parking lot, and central location with convenient interstate access.
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    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
    4816 University St Peoria, IL 61614
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