514 Main St Peoria, IL 61606
- Warehouses
Current Use by Public Records
- The Neon Bison / Bar
Property Details for 514 Main St
- Property type
- Warehouses
- Property subtype
- Retail properties
Description
This exceptional 1.65-acre Peoria, Illinois property, located at 514 W MAIN Street, zip code 61606, presents a unique investment opportunity. The site boasts five existing buildings offering diverse potential uses. One building, a former car dealership, provides ample storage space. An adjacent building features a blend of apartments and office space, while another building previously served as a restaurant. All buildings are available for sale together, or the property can be subdivided through negotiation. The property's prime location on a highly trafficked section of Main Street, situated between Peoria's hospitals and Bradley University, makes it ideal for redevelopment or continued use. The existing structures offer immediate income potential or the opportunity to create a mixed-use development. This substantial land parcel offers significant upside for investors seeking a multi-faceted commercial venture. Furthermore, an additional 1.14 acres of adjacent land is available for purchase, expanding the development potential to a total of 2.79 acres. This presents a rare chance to acquire a large-scale development site in a thriving Peoria location. The property is zoned for commercial use and offers excellent visibility and accessibility.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Peoria
- County
- Peoria
- State
- Illinois
- Longitude
- -89.601
- Latitude
- 40.6993
