5947 Allen Rd Peoria, IL 61614
- Commercial real estate
- 18.23 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 5947 Allen Rd
- Lot size
- 18.23 lot acres
- Property type
- Commercial real estate
- APN
- 14-18-326-003
- APU
- 1418326003
Description
This exceptional 18.19-acre commercial land parcel presents a unique investment opportunity in Peoria, Illinois. Strategically located at 5947 N Allen Rd, this property boasts unparalleled visibility from major thoroughfares, Northmoor Road and War Memorial Drive, ensuring high traffic exposure for any commercial venture. The property's proximity to Midwest Orthopedics further enhances its desirability, offering potential synergy with healthcare-related businesses. A significant portion of the land, approximately two acres, has already been cleared, simplifying development and reducing initial site preparation costs. Access to the property is conveniently provided via Allen Road. The asking price for this expansive tract is $300,000, representing a compelling value for its size, location, and development potential. Zoned for commercial use (verification required), this property is ideal for a wide range of businesses seeking a high-profile location in a thriving area of Peoria. The property's size and strategic location make it suitable for various commercial developments, from retail and office spaces to medical facilities and light industrial uses. Detailed zoning information and potential development plans should be verified independently. This is a rare opportunity to acquire a substantial commercial land parcel in a prime Peoria location. Don't miss out on this exceptional investment prospect. The property is located in Peoria County, Illinois, with a zip code of 61614.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $250,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $385,000
- 6.5%
- $370,000
- 7%
- $360,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $320,000
- Geo Method
- $310,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $420,000
- Retail
- $325,000
- Mixed-Use
- $385,000
- Hospitality
- $330,000
- Educational
- $445,000
- Residential Income
- $365,000
- Energy
- $405,000
- Income-Based Land
- $335,000
- Food Service
- $430,000
Location Insight
- Map
- Local Demand
- City
- Peoria
- County
- Peoria
- State
- Illinois
- Longitude
- -89.6357
- Latitude
- 40.7612
- CBSA code
- 37900
- CBSA name
- PEORIA, IL METROPOLITAN STATISTICAL AREA
