Commercial Land for sale in Peoria, Illinois, presents a lucrative investment opportunity for savvy investors. With a rich history dating back to 1691, Peoria has evolved into a diversified economy with a strong focus on manufacturing industries. Commercial Land investments in Peoria can take various forms, such as retail, industrial, or office spaces, offering a range of possibilities for entrepreneurs and businesses. Peoria's strategic location on the Illinois River, coupled with its well-developed infrastructure, including the Greater Peoria Mass Transit District and General Wayne A. Downing Peoria International Airport, makes it an attractive location for businesses. The city's amenities, such as the Peoria Civic Center, Grandview Drive, and the Peoria Park District, also contribute to its appeal. Additionally, Peoria is home to notable institutions like Illinois Central College and Bradley University, which provide a skilled workforce and foster a culture of innovation.
Peoria's Commercial Land market offers a range of opportunities, with 14 listings currently available. The average price per square foot for Commercial Land in Peoria is , with an average size of square feet. The largest available property spans 0 square feet. With an average cap rate of , Commercial Land investments in Peoria can provide a stable source of income. In addition to Commercial Land, Peoria also offers other property types, such as office spaces, retail spaces, and industrial properties, each with its unique characteristics and advantages. The city's diverse economy, rich history, and scenic beauty make it an attractive location for businesses and investors alike.
What are common commercial uses for land in the Peoria market?
Commercial land in Peoria is commonly used for industrial purposes, such as manufacturing facilities, warehouses, and distribution centers, taking advantage of the city's strong infrastructure and transportation network, including the General Wayne A. Downing Peoria International Airport and several major highways.
Additionally, commercial land in Peoria is also used for retail developments, office spaces, and restaurants, catering to the needs of the local population and visitors, with many opportunities available among the 14 listings of commercial land for sale in the area, offering an average price per square foot of and an average size of square feet.
What are common ways to purchase land to use in development projects?
When it comes to purchasing land for development projects in Peoria, Illinois, there are several common ways to go about it. For instance, you can opt for a cash purchase, negotiate a seller-financed deal, or explore financing options through a commercial lender, as outlined in our comprehensive guide on how to buy land.
