Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Knoxville Ave & Alta Rd Peoria, IL 61615
    Back to Search
    Property profile & analytics

    Knoxville Ave & Alta Rd Peoria, IL 61615

    View on Map
    • Land
    • 0.75 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Knoxville Ave & Alta Rd

    Lot size
    0.75 lot acres
    Property type
    Land

    Description

    This exceptional opportunity presents four commercial land parcels for sale in Peoria, Illinois, situated at the highly visible intersection of Knoxville Avenue and Alta Road (61615). The available lots range in size from 0.75 to 5.56 acres, offering flexibility for various development plans. Two lots boast frontage on Knoxville Avenue, while three offer Alta Road exposure. This thriving retail center, known as Knoxville Crossing, enjoys excellent traffic counts and high visibility, attracting a substantial customer base. The location benefits from its proximity to a dense residential area experiencing significant growth, ensuring a consistent stream of potential customers. Established businesses in the immediate vicinity include Great Clips, Verizon, C'est Ally Spa, OSF Urgo, Starcrest Cleaners, Walgreens, Better Banks, and Fresenius North, creating a strong and diverse commercial environment. The convenient access to Route 6 interchange further enhances the appeal and accessibility of this prime retail location. Lot E (5.56 acres) is located on Centerway Drive adjacent to Schnuck's. Lots F, G, and H (0.79, 0.75, and 0.76 acres respectively) are situated on Alta Drive, also adjacent to Schnuck's. This is an ideal investment for developers seeking to capitalize on a high-demand retail area with strong existing infrastructure and a robust customer base.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.613
    Latitude
    40.8131

    Comparable in this City

    • Value Estimation by Request
      1.60 Acres

      Orange Prairie Rd

      Land • 1.60 Acres
      0 Orange Prairie Rd, Peoria, IL 61615
      View Details
    • Value Estimation by Request
      1.68 Acres

      Centerway Dr

      Land • 1.68 Acres
      0 Centerway Dr, Peoria, IL 61615
      View Details
    • Value Estimation by Request
      0.77 Acres

      Knoxville Ave

      Land • 0.77 Acres
      0 Knoxville Ave, Peoria, IL 61615
      View Details
    • Value Estimation by Request
      1.05 Acres

      10023 Knoxville Ave

      Land • 1.05 Acres
      10023 Knoxville Ave, Peoria, IL 61615
      View Details
    • Value Estimation by Request
      0.75 Acres

      10405 Centerway Dr

      Retail properties & Spaces • 0.75 Acres
      10405 Centerway Dr, Peoria, IL 61615
      View Details
    • Value Estimation by Request
      1.30 Acres

      Orange Prairie Rd

      Land • 1.30 Acres
      0 Orange Prairie Rd, Peoria, IL 61615
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Vacant Land For Sale

      Vacant land with infrastructure to lot line and curbs.
      9818 N Allen Rd, Peoria, IL 61615
      View Details
    • Contact for pricing
      7.40 Acres

      Peoria Land: Prime Mixed-Use Parcels

      Multiple parcels, ideal retail & multi-family.
      5514 War Memorial Dr, Peoria, IL 61615
      View Details
    • Contact for pricing
      1.30 Acres

      North Orange Prairie

      Land • 1.30 Acres
      0 Orange Prairie Rd, Peoria, IL 61615
      View Details
    • $4,500,000
      57,048 SF

      Peoria Multifamily Investment Opportunity

      96-Unit Apartment Complex, Excellent ROI
      3900 Marybelle Ave, Peoria, IL 61615
      View Details
    • Contact for pricing

      Commercial Land on Orange Prairie

      Three commercial parcels for retail or office development.
      N Orange Prairie Rd, Peoria, IL 61615
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      One Acre Flex Build-to-Suit

      One acre site for flex building with office/warehouse blend.
      8924 N Prairie Pt, Peoria, IL 61615
      View Details
    • Contact for pricing

      Northpoint Shopping Center Retail Space

      156,000 square foot shopping center in Peoria's growth area.
      8817 Knoxville Ave, Peoria, IL 61615
      View Details
    • Contact for pricing

      Northpoint Shopping Center Retail Space

      Neighborhood shopping center in Peoria's residential growth area.
      8817 Knoxville Ave, Peoria, IL 61615
      View Details
    • Contact for pricing

      Office Space Near Interstate Access

      Office property near IL-rte 6 and Interstate access.
      1315 W Commerce Dr, Peoria, IL 61615
      View Details
    • Contact for pricing

      Former Hair Salon Retail Space

      1600 SF retail space, formerly a hair salon.
      9031 N Allen Rd, Peoria, IL 61615
      View Details
    • Contact for pricing

      Warehouse Space in North Peoria

      Warehouse space in a busy industrial area, North Peoria.
      2124 W Altorfer Dr, Peoria, IL 61615
      View Details
    Request Owner's contact information
    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.
    Knoxville Ave & Alta Rd
    Peoria, IL 61615
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Knoxville Ave & Alta Rd, Peoria, IL, 61615
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!