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    1310 Samuel Ave Peoria Heights, IL 61616
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    Property profile & analytics

    1310 Samuel Ave Peoria Heights, IL 61616

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    • Commercial real estate
    • 19,500 SF
    Off-Market
    Property ID
    US28-0026905
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1310 Samuel Ave

    Year built
    2021
    Property size
    19,500 SF
    Property type
    Commercial real estate
    APN
    14-22-409-007 14-22-409-005 14-22-409-004 14-22-409-008

    Description

    This exceptional investment opportunity presents a package of four luxury condo units located at 1310 E Samuel Ave, Peoria Heights, IL 61616. The property, part of a larger building containing 12 residential and one commercial unit, boasts a prime location near Peoria Heights' vibrant restaurants, boutiques, and amenities. These four units, totaling 5,587 net rentable square feet within a 19,500 square foot building, represent a Class A multifamily asset built in 2021 and renovated in 2023. The four-story building sits on APN 14-22-409-007, 14-22-409-005, 14-22-409-004, and 14-22-409-008, and is zoned R. Currently operating at 100% occupancy, the portfolio includes three long-term rentals and one short/medium-term rental managed by a property management group. The asking price is $1,680,275, representing a price per square foot of $301 and a price per unit of $420,069. This net lease investment offers a compelling 6.63% cap rate. Attractive seller financing options are available, with projected Internal Rate of Return (IRR) exceeding 24% after five years under seller financing or interest-only financing scenarios. Convenient access to numerous attractions, including rooftop bars, Tower Park, the Rock Island Trail, Junction City Shopping Center, Keller Station, and the Country Club of Peoria, further enhances the investment's appeal. Detailed information and photos are available in the Offering Memorandum.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria Heights
    County
    Peoria
    State
    Illinois
    Longitude
    -89.5732251
    Latitude
    40.7452023

    Comparable in this City

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      Established Cigar Lounge For Sale

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    • $1,050,000

      Prime Peoria Heights Development Opportunity

      1.41 acres in Peoria Heights with retail building and development potential.
      1001 E War Memorial Dr, Peoria Heights, IL 61616
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    • $775,000
      5,079 SF

      Turn-Key Restaurant/Bar For Sale

      Turn-key restaurant/bar with patio and ample parking for sale.
      4319 N Prospect Rd, Peoria Heights, IL 61616
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    Similar Nearby for Sale

    • $1,500,000

      Multifamily Community with Marina Potential

      Multifamily property with marina on the Illinois River.
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    • $450,000

      Established Cigar Lounge For Sale

      Turn-key cigar lounge with loyal clientele in Peoria Heights.
      3901 N Prospect Rd, Peoria Heights, IL 61616
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    • $1,050,000

      Prime Peoria Heights Development Opportunity

      1.41 acres in Peoria Heights with retail building and development potential.
      1001 E War Memorial Dr, Peoria Heights, IL 61616
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    • $775,000
      5,079 SF

      Turn-Key Restaurant/Bar For Sale

      Turn-key restaurant/bar with patio and ample parking for sale.
      4319 N Prospect Rd, Peoria Heights, IL 61616
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Peoria Heights Retail/Office Space

      Lease opportunity in Peoria Heights for retail or office use.
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    • $8 SF/Yr
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      Updated Executive Office Suites Available

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      Peoria Heights Retail/Office Space

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      Peoria Heights Commercial Spaces for Lease

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      Versatile Commercial Property in Peoria Heights

      Multi-use property with retail, office, and warehouse spaces for lease.
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      32,000 SF

      New Mixed-Use Development

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    1310 Samuel Ave
    Peoria Heights, IL 61616
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    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.

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    1310 Samuel Ave, Peoria Heights, IL, 61616
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