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    514 Main St Peoria, IL 61606

    • Commercial real estate
    • 31,333 SF
    • 1.65 lot acres
    For Sale
    View listing
    $999,000
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • The Neon Bison / Bar

    Property Details for 514 Main St

    Lot size
    1.65 lot acres
    Property size
    31,333 SF
    Property type
    Commercial real estate

    Description

    This exceptional 31,333 square foot commercial property, situated on a 1.65-acre lot at 514 W Main Street in Peoria, Illinois, presents a unique investment opportunity. Its prime location between Peoria's hospitals and Bradley University ensures high visibility and accessibility. The property comprises three distinct buildings: a former car dealership offering ample storage space

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.6012
    Latitude
    40.6994

    Comparable in this City

    • Value Estimation by Request

      902 Moss Ave

      COMMERCIAL (GENERAL)
      902 Moss Ave, Peoria, IL 61606-1800
      View Details
    • Value Estimation by Request

      1011 University St

      COMMERCIAL (GENERAL)
      1011 University St, Peoria, IL 61606
      View Details
    • Value Estimation by Request

      105 Roanoke Ave

      COMMERCIAL (GENERAL)
      105 Roanoke Ave, Peoria, IL 61606-1570
      View Details
    • Value Estimation by Request

      918 Sheridan Rd

      COMMERCIAL (GENERAL)
      918 Sheridan Rd, Peoria, IL 61606-1966
      View Details
    • Value Estimation by Request

      1303 Main St

      COMMERCIAL (GENERAL)
      1303 Main St, Peoria, IL 61606
      View Details
    • Value Estimation by Request

      1113 Main St

      COMMERCIAL (GENERAL)
      1113 Main St, Peoria, IL 61606-1252
      View Details

    Similar Nearby for Sale

    • $999,000

      Main Street Peoria Multi-Use Property

      1.65-acre Peoria commercial complex, 5 buildings.
      514 Main St, Peoria, IL 61606
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    • $440,000
      3,250 SF

      Peoria Multi-Family Investment Property

      Five-unit apartment building, strong rental income.
      1001 Moss Ave, Peoria, IL 61606
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    • $999,000
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      Peoria Main Street Commercial Complex

      High-traffic location, multi-use potential.
      514 Main St, Peoria, IL 61606
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    • $575,000
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      Retail Building in Prime Location

      3,380 SF building ideal for retail or business.
      1017 W Main St, Peoria, IL 61606
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    • $1,600,000
      Pending

      20-Unit Multifamily Investment Opportunity

      Stabilized, income-producing property with renovation and rent growth potential.
      1119 N Underhill St, Peoria, IL 61606
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    • $550,000
      0.60 Acres

      Bradley University Investment Portfolio

      Six homes near Bradley University, prime investment opportunity.
      700 N Underhill St, Peoria, IL 61606
      View Details
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    514 Main St
    Peoria, IL 61606
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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
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