Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    8817 Knoxville Ave Peoria, IL 61615
    Back to Search
    Property profile & analytics

    8817 Knoxville Ave Peoria, IL 61615

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

    Current Use by Public Records

    • Land

    Property Details for 8817 Knoxville Ave

    Lot size
    1.00 lot acres
    Property type
    Land

    Description

    Two outparcel lots are available for sale within the Northpoint Shopping Center, a thriving 156,000 square foot neighborhood shopping center situated on Knoxville Avenue in Peoria, Illinois. This high-traffic location, in Peoria's number one residential growth area, boasts exceptional visibility and accessibility. The property is zoned C2, allowing for a variety of commercial uses. Each lot ranges from one to 1.32 acres, providing ample space for development. The site benefits from two fully signalized intersections, ensuring convenient access for customers and employees. Knoxville Avenue experiences a significant daily traffic volume of 19,500 cars, guaranteeing substantial exposure for any business established here. The address is 8817 Knoxville Ave, Peoria, IL 61615. This presents a unique opportunity for businesses seeking a prime location in a rapidly growing area with high visibility and excellent traffic counts. The build-to-suit option allows for customized development to meet specific business needs. This is an exceptional opportunity to establish a presence in a successful and established shopping center.

    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
    -89.6075
    Latitude
    40.7929

    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
      1.30 Acres

      Orange Prairie Rd

      Land • 1.30 Acres
      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
      1.64 Acres

      5 Rte 91 Hwy

      Land • 1.64 Acres
      5 Rte 91 Hwy, Dunlap, IL 61615
      View Details
    • Value Estimation by Request
      7.40 Acres

      5514 War Memorial Dr

      Farms • 7.40 Acres
      5514 War Memorial Dr, Peoria, IL 61615
      View Details

    Similar Nearby for Sale

    • 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
    • Contact for pricing

      5.83 Acres Development Opportunity

      5.83 acres suitable for development uses.
      3901 W Reservoir Blvd, 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
      0.51 Acres

      Residential Land Overlooking Golf Course

      Half-acre residential lot in Weaverridge subdivision, Peoria, Illinois.
      4103 Sandridge Ct, Peoria, IL 61615
      View Details
    • Contact for pricing

      Commercial Land on Route 40

      9.41 buildable acres near Route 6 with commercial zoning.
      North Oakwood Dr, 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

      Commercial Land in Growing Area

      Commercial land for rent in a high-growth residential area.
      N 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

      Warehouse Space in North Peoria

      Warehouse space in a busy industrial area, North Peoria.
      2124 W Altorfer 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
    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.
    8817 Knoxville Ave
    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
    8817 Knoxville Ave, 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!