Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5015 Farmington Rd Peoria, IL 61604

    • Land
    • 2.75 lot acres
    For Sale
    View listing
    $260,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 5015 Farmington Rd

    Lot size
    2.75 lot acres
    Property type
    Land

    Description

    This exceptional 2.75-acre commercial land parcel, located at 5015 W Farmington Road in Peoria, Illinois (zip code 61604), presents a unique investment opportunity. The property boasts a highly visible location directly adjacent to a Dollar General store, ensuring significant exposure for any future development. The lot is zoned for Retail, Residential, Industrial, and Commercial uses (Retail/RES/IND/COMM), offering considerable flexibility for a variety of projects. The land itself is generally level with some wooded areas. Existing utilities on-site include electricity, gas, water, and sewer, simplifying development plans. The property's APN is 17-02-103-010. While the current tax assessment reflects a larger parcel, a revised tax bill reflecting the 2.75-acre size is forthcoming. The Peoria Village is actively engaged in assisting buyers with potential zoning adjustments, providing further development opportunities. The possibility of acquiring additional acreage beyond the current 2.75 acres may also exist. This prime location and the village's collaborative approach make this a compelling investment opportunity for developers and entrepreneurs seeking a high-visibility site in a thriving area. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.6728
    Latitude
    40.699

    Comparable in this City

    • Value Estimation by Request

      Maxwell Rd

      Farms
      0 Maxwell Rd, Bellevue, IL 61604
      View Details
    • Value Estimation by Request
      3.94 Acres

      3442 Villa Rdg

      Multifamily properties • 8,460 SF
      3442 Villa Rdg, Peoria, IL 61604
      View Details
    • Value Estimation by Request
      62.75 Acres

      5015 Farmington Rd

      Farms • 62.75 Acres
      5015 Farmington Rd, Bellevue, IL 61604
      View Details
    • Value Estimation by Request
      2.19 Acres

      Commerce & Development Dr

      Land • 2.19 Acres
      0 Commerce & Development Dr, Peoria, IL 61604
      View Details
    • Value Estimation by Request

      2515-2517 Sheridan Rd

      Retail properties
      2515-2517 Sheridan Rd, Peoria, IL 61604
      View Details
    • Value Estimation by Request
      0.09 Acres

      2527 Farmington Rd

      Distribution properties • 4,000 SF
      2527 Farmington Rd, West Peoria, IL 61604
      View Details

    Similar Nearby for Sale

    • $1,300,000

      Prime Peoria County Land Investment

      Farmland near I-74 & Airport
      0 Maxwell Rd, Bellevue, IL 61604
      View Details
    • $260,000
      2.75 Acres

      Farmington Road Commercial Land

      2.75-acre Peoria commercial lot. High visibility.
      5015 Farmington Rd, Peoria, IL 61604
      View Details
    • $182,795
      2.19 Acres

      Peoria County Business Park Land

      2.19 Acres Commercial Land, Prime Location
      0 Commerce & Development Dr, Peoria, IL 61604
      View Details
    • $50,000
      Pending

      Peoria Multifamily Investment Opportunity

      Thirty-property portfolio with income and value-add potential in Peoria.
      2315 N Sheridan Rd, Peoria, IL 61604
      View Details
    • $74,900

      Residential Land in Peoria, IL

      8.5 acre residential land parcel in Bellevue, Peoria, Illinois.
      5015 W Farmington Rd, Peoria, IL 61604
      View Details
    • $125,000
      4.95 Acres

      5-Acre Wooded Lakefront Property

      Private 5-acre wooded lot with lake frontage in Peoria, IL.
      Country View Dr, Peoria, IL 61604
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      124,188 SF

      University Plaza Retail Space

      Peoria, IL commercial space available.
      3523 University St, Peoria, IL 61604
      View Details
    • $1,500 /Mo
      1,680 SF

      Remodeled Salon Space Available

      1,680 sq ft remodeled salon space near Bradley University.
      2027 W Farmington Rd, West Peoria, IL 61604
      View Details
    • $10 SF/Yr
      16,895 SF

      University Retail/Medical Office Space

      Prime Peoria location, divisible space, strong co-tenancy.
      3125 University St, Peoria, IL 61604
      View Details
    • New
      Contact for pricing
      30,492 SF

      Office Space in Peoria, IL

      Office space available for rent in Peoria, Illinois.
      2420 W Nebraska Ave, Peoria, IL 61604
      View Details
    • $10 SF/Yr
      800 SF

      Retail/Office Space For Lease

      Retail and office spaces available for lease in Peoria, IL.
      3725-3813 Sterling Ave, Peoria, IL 61604
      View Details
    • Contact for pricing
      5,775 SF

      Retail Space in University Plaza

      Retail spaces for lease in Peoria's University Plaza.
      3455 N University St, Peoria, IL 61604
      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.
    5015 Farmington Rd
    Peoria, IL 61604
    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

    Google sign-in failed. Please try again or use another login method.