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    9818 Allen Rd Peoria, IL 61615

    For Sale
    $1,764,942

    8.5 Acres, I1 Zoning, Excellent Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 8.53-acre commercial land parcel presents a unique investment opportunity in Peoria, Illinois. Located at 9818 N Allen Rd, this property boasts an I1 Light Industrial zoning designation, offering considerable flexibility for development. The asking price is $1,764,942, translating to a land value of $5.25 per square foot. The property's APN is 09-31-251-014. Its strategic location at the well-lit intersection of Allen Road and Van Winkle Way provides high visibility and accessibility. The area enjoys strong residential and commercial growth, with nearby prominent businesses including UnityPoint Health, Audi Peoria, Meadowbrook Veterinary Clinic, Peoria Public Library, Menards, and a Walmart Supercenter, along with numerous retail centers, restaurants, and office complexes. Allen Road's recent expansion to four lanes further enhances accessibility. While unincorporated, the land sits adjacent to Peoria city limits and an Enterprise Zone, potentially offering development incentives. This vacant lot presents a compelling opportunity for businesses seeking a prime location with excellent visibility and access to a thriving community. The property's size and zoning make it ideal for a variety of light industrial uses, capitalizing on the area's continued growth and development.

    Property Features for 9818 Allen Rd

    General Information

    Property type
    Land
    Lot Size
    371,567 SF

    HighLights

    • 8.5± acre commercial land parcel available for sale.
    • High‑visibility location at the lighted intersection of Allen Road and Van Winkle Way, near major businesses including UnityPoint Health and Audi Peoria.
    • Strong residential and commercial growth in the area, with recent four‑lane expansion of Allen Road.
    • Unincorporated, yet adjacent to Peoria city limits and an Enterprise Zone, offering potential development incentives.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    David Hoerr Excavating Excavating Contractor

    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
    -89.629192
    Latitude
    40.806586

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    FAQs

    What type of property is this?
    Land - 8.5 Acres, I1 Zoning, Excellent Location
    Where is this land located?
    The property is located at 9818 Allen Rd Peoria, IL.
    What is the asking price?
    The asking price for this property is $1,764,942.
    What are key features of this property?
    This property features: 8.5± acre commercial land parcel available for sale.; High-visibility location at the lighted intersection of Allen Road and Van Winkle Way, near major businesses including UnityPoint Health and Audi Peoria.; Strong residential and commercial growth in the area, with recent four-lane expansion of Allen Road.
    (309) 693-3000
    Request Owner's contact information
    9818 Allen Rd Peoria, IL 61615
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    Peoria, IL 61615
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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
    9818 Allen Rd Peoria, IL 61615
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