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    901 Lake Ave Peoria, IL 61604

    • Commercial real estate
    • 10.00 lot acres
    For Lease
    View listing
    $6 SF/Yr
    Value Estimation
    $275,000
    Location Intelligence
    Property ID
    US28-2280416
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • CubeSmart Self Storage / Storage Facility / Self-Storage Facility
    • Evergreen Square / Shopping Mall

    Property Details for 901 Lake Ave

    Lot size
    10.00 lot acres
    Property type
    Commercial real estate
    APN
    14-20-476-006
    APU
    1420476006

    Description

    This exceptional retail opportunity presents 27,000 square feet of vacant space within a 159,000-square-foot property undergoing complete redevelopment at 901 W. Lake Avenue in Peoria, Illinois (zip code 61604). Located in Peoria County, this multi-tenant property, built in 1971, offers significant potential for a variety of retail businesses. The redevelopment plan includes a substantial portion (approximately 90,000 square feet) dedicated to climate-controlled self-storage units managed by Cubesmart, ensuring high foot traffic and visibility for neighboring tenants. A popular local establishment, Leaves N Beans, will also occupy 7,500 square feet on the opposite end of the available space, creating a synergistic retail environment. This prime location provides excellent access and exposure for businesses seeking a prominent presence in the Peoria market. The substantial size of the available space allows for flexibility in design and layout to accommodate a wide range of retail concepts. This is a unique chance to be part of a revitalized commercial center in a thriving community. The property's strategic location and the ongoing redevelopment project promise a strong return on investment for the right tenant. Contact us today to learn more about this exciting opportunity.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $260,000

    • CAP approach

      CAP return
      Estimation
      6%
      $325,000
      6.5%
      $315,000
      7%
      $305,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $295,000
      Geo Method
      $340,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $360,000
      Retail
      $295,000
      Mixed-Use
      $290,000
      Hospitality
      $290,000
      Educational
      $335,000
      Residential Income
      $320,000
      Energy
      $315,000
      Income-Based Land
      $355,000
      Food Service
      $270,000

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.6035
    Latitude
    40.7418
    CBSA code
    37900
    CBSA name
    PEORIA, IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,983
    $31,700
    $0.00
    $31,700
    -
    $95,100
    $0.00
    $95,100

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    901 Lake Ave
    Peoria, IL 61604
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    Realmo Value Estimation

    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.

    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.

    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
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