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    3709 Sheridan Rd Peoria, IL 61614

    Sponsored
    For Sale
    $139,000

    1,463 SF, 2-Unit Building, High ROI

    Property size:
    1,463 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property, located at 3709 N Sheridan Rd in Peoria, Illinois, presents a compelling investment opportunity. The 1,463 square foot building, constructed in 1929 and boasting a Class B designation, offers a blend of commercial and residential space. The main floor encompasses 1,127 square feet of adaptable commercial space, ideal for office or retail use. Its open layout features a kitchen, separate conference area, private office, and restroom – all enhanced by recent renovations. The basement provides valuable storage. Upstairs, a 336 square foot, one-bedroom, one-bathroom apartment generates rental income. This income-producing unit is currently occupied. Significant improvements have been made in recent years, including a new roof (2020) and extensive interior upgrades in 2022, exceeding $30,000 in value. These updates encompass new LED lighting, main floor ceilings, fixtures, flooring, kitchen, and fresh paint. The property sits on a 0.12-acre lot, zoned O1, and benefits from a central location near the intersection of War Memorial and Sheridan Road. The asking price is $139,000, translating to $95.01 per square foot. This two-unit building offers a strong return on investment with its combination of commercial and residential income streams and recent upgrades. The property's prime location and versatile layout make it an attractive prospect for both seasoned investors and those seeking a profitable venture.

    Property Features for 3709 Sheridan Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    1,463 SF
    Class
    B
    Lot Size
    5,227 SF

    Building Details

    Year Built
    1929
    Buildings
    1
    Stories
    2
    Units
    2
    Property Profile Location Intelligence

    Current Use by Public Records

    bk7-13, p.c. an Illinois ... Law Firm

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.6034757
    Latitude
    40.7326623

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    FAQs

    What type of property is this?
    Individual retail property - 1,463 SF, 2-Unit Building, High ROI
    Where is this individual retail property located?
    The property is located at 3709 Sheridan Rd Peoria, IL.
    What is the asking price?
    The asking price for this property is $139,000.
    Request Owner's contact information
    3709 Sheridan Rd Peoria, IL 61614
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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
    3709 Sheridan Rd Peoria, IL 61614
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