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    Property profile & analytics

    3701 Sterling Ave Peoria, IL 61615

    • Commercial real estate
    For Lease
    View listing
    $6 SF/Yr
    Value Estimation
    $2,635,000
    Last Sale
    Jun 24, 2022
    $2,700,000
    Location Intelligence
    Property ID
    US28-1561420
    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

    • Cash Store / Loan Agency

    Property Details for 3701 Sterling Ave

    Property type
    Commercial real estate
    APN
    14-30-182-022
    APU
    1430182022

    Description

    Sterling Plaza, located at 3701 N Sterling Ave in Peoria, IL (zip code 61615), offers exceptional retail and office space for lease. This 52,060 square foot building, situated on a 5.6-acre lot, boasts 22 suites with a minimum divisible space of 800 square feet and a maximum contiguous space of 3,500 square feet. Built in 1969 and zoned C2, the property features a variety of options to suit diverse business needs. Currently, three spaces are available: a street-level 875 square foot former cellular store (Unit 2519), a 3,300 square foot open space previously used as a women's fitness center (Unit 3709), and a 3,500 square foot lower-level space ideal for gatherings, featuring several private offices and restrooms. The property enjoys a prime location on Sterling Avenue, conveniently situated south of Westlake Shopping Center and Northwoods Mall, with easy access to the I-74 interchange, ensuring high visibility and convenient access for customers and employees. This Peoria County property presents a unique opportunity for businesses seeking versatile and well-located space.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $2,605,000

    • CAP approach

      CAP return
      Estimation
      6%
      $2,630,000
      6.5%
      $2,615,000
      7%
      $2,900,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $2,995,000
      Geo Method
      $2,450,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $2,285,000
      Retail
      $2,405,000
      Mixed-Use
      $2,795,000
      Hospitality
      $2,325,000
      Educational
      $2,495,000
      Residential Income
      $2,280,000
      Energy
      $2,905,000
      Income-Based Land
      $2,975,000
      Food Service
      $2,710,000

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.6326
    Latitude
    40.7331
    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
    $32,936
    $130,280
    $219,780
    $350,060
    -
    $390,840
    $659,340
    $1,050,180

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    3701 Sterling Ave
    Peoria, IL 61615
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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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