1320 Raber Rd, Peoria, IL 61604-4708
This unique Peoria, IL property, located at 1320 N Raber Road, offers a compelling investment opportunity. Built in 1970, this two-building complex sits on a sizable lot and includes a fenced outdoor area and an additional parcel of land. The main structure, a former concrete plant with a rich history dating back to World War II, presents a multitude of redevelopment possibilities. Imagine transforming this space into a thriving mechanical shop, a secure storage facility, or even a unique parking area. The existing warehouse features four 12-foot overhead doors, robust 6-8 inch thick concrete floors, and 14-foot ceilings. A partial restroom and tool storage room are roughed-in, and a loft area provides additional space. A finished office space with a half bath is also included, with potential for conversion into an apartment. The property boasts a 7.5 HP 175 PSI 80-gallon tank air compressor, gas line access, and the added benefit of railroad tracks located directly behind the property. The property is situated in West Peoria's industrial zone, conveniently off Farmington Road, and offers significant potential for a variety of commercial or industrial uses. The asking price is $180,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
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