4440 Prospect Rd Peoria Heights, IL 61616
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 4440 Prospect Rd
- Property type
- Commercial real estate
- APN
- 14-22-452-005
- APU
- 1422452005
Description
This prime 1,560 square foot retail/office space in Peoria Heights offers a fantastic location on Prospect Road. Previously occupied by a bank, the layout includes an open area, multiple private offices, and a former teller area, providing flexibility for various business needs. The property benefits from high visibility due to its endcap location at a four-way stop, ensuring excellent exposure to traffic on Prospect Road. Its adjacency to Heritage Square provides added convenience and potential synergy with other businesses. Furthermore, the property offers direct access to the Rock Island Trail via the parking lot, providing an attractive amenity for employees and customers. This single-tenant space presents a unique opportunity for businesses seeking a well-situated and versatile office environment in a desirable Peoria Heights location. The building is situated in Peoria County. The property type is classified as retail and office, with a traditional office subtype.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $855,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $780,000
- 6.5%
- $815,000
- 7%
- $845,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $820,000
- Geo Method
- $730,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $770,000
- Retail
- $760,000
- Mixed-Use
- $725,000
- Hospitality
- $945,000
- Educational
- $975,000
- Residential Income
- $885,000
- Energy
- $770,000
- Income-Based Land
- $805,000
- Food Service
- $920,000
Location Insight
- Map
- Local Demand
- City
- Peoria Heights
- County
- Peoria
- State
- Illinois
- Longitude
- -89.5735
- Latitude
- 40.7416
- CBSA code
- 37900
- CBSA name
- PEORIA, IL METROPOLITAN STATISTICAL AREA
