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    816-828 Glen Ave Peoria, IL 61614

    Sponsored
    For Sale
    $650,000

    3.3 Acres, Ready to Develop

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 3.3-acre commercial land parcel presents a unique development opportunity in a highly desirable North Peoria location. Situated directly across from Notre Dame High School, this property boasts exceptional visibility and accessibility. Its strategic placement just a quarter block from a well-lit intersection ensures high traffic volume and prominent exposure for any future development. The property's zoning allows for a variety of commercial uses, making it an ideal investment for entrepreneurs and developers alike. The asking price for the entire 3.3-acre parcel is $650,000. Alternatively, a ground lease option is available for portions of the land, ranging from 1.51 to 3.3 acres. Lease rates are competitively priced at $0.84 per square foot and $1.00 per square foot, with a Net, Net, Net (NNN) lease structure. This flexible approach allows for tailored solutions to meet diverse development needs and budgets. The property's address is 816-828 W Glen Avenue, Peoria, Illinois, 61614. Its prime location, combined with the flexible ownership and leasing options, makes this a truly exceptional commercial real estate investment opportunity. Don't miss the chance to secure this strategically located property and capitalize on its immense potential. Contact us today to learn more and schedule a site visit.

    Property Features for 816-828 Glen Ave

    General Information

    Property type
    Specialty properties

    HighLights

    • $650,000 asking price.
    • Special purpose property located at 816‑828 W Glen Avenue, Peoria, IL 61614.
    • 3.3 acres of commercial land available for development in a prime North Peoria location.
    • Property is across from Notre Dame High School and a quarter block from a lighted intersection.
    • Ground lease options available for 1.51 to 3.3 acres at $0.84-$1.00/sq. ft. NNN.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.6051686
    Latitude
    40.746485

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    FAQs

    What type of property is this?
    Specialty property - 3.3 Acres, Ready to Develop
    Where is this specialty property located?
    The property is located at 816-828 Glen Ave Peoria, IL.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: $650,000 asking price.; Special purpose property located at 816-828 W Glen Avenue, Peoria, IL 61614.; 3.3 acres of commercial land available for development in a prime North Peoria location.
    (309) 687-5000
    Request Owner's contact information
    816-828 Glen Ave 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
    816-828 Glen Ave Peoria, IL 61614
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