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

    1000 Washington St Peoria, IL 61602

    For Sale
    $725,000

    Redevelopment Opportunity: 14,500 sqft Warehouse

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 14,500 square foot warehouse property, located at 1000 SW Washington Street in Peoria, Illinois (zip code 61602), presents a compelling redevelopment opportunity within a rapidly transforming area. Priced at $725,000, this industrial property boasts a single building situated on a land parcel offering significant potential. The warehouse features concrete floors and ceilings, a loading dock, and high ceilings, providing a solid foundation for various adaptive reuse scenarios. While a freight elevator is currently out of service, the substantial square footage and existing infrastructure offer considerable flexibility. The property also includes approximately 10-15 additional parking spots, supplementing the new city-developed parking lot and park directly behind the building. This prime location benefits from the ongoing redevelopment of the surrounding block, which includes three buildings being converted into residential units, an event center, and retail spaces, creating increased foot traffic and commercial activity across the street. The potential for rooftop buildout further enhances the property's value and adaptability. This is a unique chance to capitalize on the revitalization of this vibrant Peoria neighborhood before further development significantly increases property values. Don't miss this chance to be part of Peoria's exciting urban renewal.

    Property Features for 1000 Washington St

    General Information

    Property type
    Distribution properties

    Building Details

    Buildings
    1

    HighLights

    • 14,500 SF warehouse in Peoria, IL (61602) for $725,000.
    • Single‑building property with significant redevelopment potential.
    • Features concrete floors and ceilings, loading dock, and high ceilings.
    • Approximately 10‑15 parking spaces plus adjacent city parking.
    • Located in a rapidly revitalizing area with new residential, retail, and event spaces nearby.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Restaurant Realty agency Spa & Massage Dental Office Building Supply Wholesale Shop Hair Salon Auto Repair Shop 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
    -89.5994771
    Latitude
    40.6835511

    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?
    Distribution property - Redevelopment Opportunity: 14,500 sqft Warehouse
    Where is this distribution property located?
    The property is located at 1000 Washington St Peoria, IL.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: 14,500 SF warehouse in Peoria, IL (61602) for $725,000.; Single-building property with significant redevelopment potential.; Features concrete floors and ceilings, loading dock, and high ceilings.
    Request Owner's contact information
    1000 Washington St Peoria, IL 61602
    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.
    1000 Washington St
    Peoria, IL 61602
    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
    1000 Washington St Peoria, IL 61602
    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.