Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    American Prairie Dr Peoria, IL 61615
    Back to Search
    Property profile & analytics

    American Prairie Dr Peoria, IL 61615

    View on Map
    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 American Prairie Dr

    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional commercial land parcel, located at W AMERICAN PRAIRIE Drive in Peoria, Illinois, presents a unique opportunity for discerning investors and developers. Situated in the 61615 zip code, this property is ideally positioned within Peoria County, offering convenient access to major transportation routes and a thriving local community. The land is classified as both commercial and restaurant-zoned, making it perfectly suited for a wide range of culinary ventures, from casual eateries to upscale dining establishments. The property's precise dimensions and acreage are not specified, but its location offers significant potential for high visibility and foot traffic. This prime location in Peoria, IL, provides an excellent foundation for a successful restaurant or other commercial enterprise. The property's latitude and longitude coordinates are 40.7821626 and -89.6740165 respectively, allowing for easy location verification and mapping. This is a blank canvas for a visionary entrepreneur to create a thriving business in a dynamic and growing area. The property is currently undeveloped land, offering complete design flexibility to match the specific needs of the future business. Serious inquiries are encouraged to explore the possibilities of this exceptional commercial land opportunity. Further details regarding zoning regulations and development possibilities are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.674
    Latitude
    40.7822

    Comparable in this City

    • Value Estimation by Request
      6.34 Acres

      Orange Prairie Rd

      Lifestyle centers • 6.34 Acres
      0 Orange Prairie Rd, Peoria, IL 61615
      View Details
    • Value Estimation by Request

      American Prairie Dr

      Restaurants
      0 American Prairie Dr, Peoria, IL 61615
      View Details
    • Value Estimation by Request

      Orange Prairie Rd

      Restaurants
      0 Orange Prairie Rd, Peoria, IL 61615
      View Details
    • Value Estimation by Request

      Grand Prairie Dr

      Restaurants
      0 Grand Prairie Dr, Peoria, IL 61615
      View Details
    • Value Estimation by Request

      American Prairie Dr

      Restaurants
      0 American Prairie Dr, Peoria, IL 61615
      View Details
    • Value Estimation by Request
      468,520 SF

      91 & War Memorial Dr

      Neighborhood centers • 468,520 SF
      91 & War Memorial Dr, Peoria, IL 61615
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,129 SF

      Mixed-Use Investment Property For Sale

      Value-add investment property with established tenant occupying 60%.
      8630 N Allen Rd, 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
    • 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

    Similar Nearby for Lease

    • $12 SF/Yr
      20,954 SF

      Dominion Square Retail Space

      Peoria, IL retail spaces available
      1301 Pioneer Pkwy, Peoria, IL 61615
      View Details
    • Contact for pricing

      Retail Spaces on Big Hollow

      Retail spaces available for lease near Big Hollow Shopping Center.
      5012 N Big Hollow Rd, Peoria, IL 61615
      View Details
    • Contact for pricing
      5,635 SF

      Prime Retail Space in Peoria

      Retail landmark with high visibility and strong market presence.
      2601 W Lake 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

      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
      700 SF

      Salon/Barber Shop For Lease

      700 SF salon/barber shop with equipment included for lease.
      2524 W Farrelly Ave, 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.
    American Prairie Dr
    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
    American Prairie Dr, 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!