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    Keller Williams Bloomington

    2401 E Empire, B, Bloomington, IL 61704
    (309) 834-3400
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    Size: 10+ agents

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    • Land
    • Residential Multi Family
    • Commercial Lease

    Listings

    For Sale (17)

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    Downs, IL 25-Acre Land Parcel
    $675,000
    25.00 Acres

    Downs, IL 25-Acre Land Parcel

    25-acre parcel in Downs, IL, suitable for building.

    700 E Rd N, Downs, IL 61736
    View details
    Residential Land in Heyworth, Illinois
    $78,500
    0.78 Acres

    Residential Land in Heyworth, Illinois

    Large residential lot in Heyworth with pond and pavilion.

    14607 Knob Hill Dr, Heyworth, IL 61745
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    Residential Land in Lexington, IL
    $76,000

    Residential Land in Lexington, IL

    Residential community lots with timber, trails, and park.

    lot 3&4 Allison Rd, Lexington, IL 61753
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    Residential Land in Lexington, IL
    $88,000

    Residential Land in Lexington, IL

    Corner lot in Century Oaks Subdivision, Lexington, IL.

    202 E Angela Cir, Lexington, IL 61753
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    Residential Homesite in Century Oaks
    $78,000

    Residential Homesite in Century Oaks

    Well-positioned lot with city utilities near Lexington schools.

    202 W Angela Cir, Lexington, IL 61753
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    Residential Land in Century Oaks
    $88,000

    Residential Land in Century Oaks

    Corner lot with city utilities, convenient location in Lexington, IL.

    201 W Angela Cir, Lexington, IL 61753
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    Bloomington Multifamily Investment Opportunity
    $329,900
    0.13 Acres

    Bloomington Multifamily Investment Opportunity

    Three units with diversified cash flow in a prime location.

    802 E Grove St, Bloomington, IL 61701
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    Buildable Lot in Bloomington, IL
    Contact for pricing

    Buildable Lot in Bloomington, IL

    Large residential lot available for sale in Bloomington, Illinois.

    1301 W Grove St, Bloomington, IL 61701
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    Residential Land Near Golf Course
    $72,500
    0.33 Acres

    Residential Land Near Golf Course

    Residential land backing up to the 13th Tee Box.

    2610 Piney Run, Bloomington, IL 61705
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    Move-in Ready Commercial Space
    $650,000
    3,700 SF

    Move-in Ready Commercial Space

    Adaptable commercial space ideal for various ventures in Normal, IL.

    208 Parkinson St, Normal, IL 61761
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    Updated Duplex Near Shopping Centers
    $169,000
    0.15 Acres

    Updated Duplex Near Shopping Centers

    Bloomington duplex with updated features and strong rental history.

    1218 Orchard Rd, Bloomington, IL 61704
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    Residential Land in Crestwicke Neighborhood
    $85,000
    0.40 Acres

    Residential Land in Crestwicke Neighborhood

    Buildable lot in Crestwicke neighborhood, ideal for a new home.

    lot 14 - 15940 Crestwicke Dr, Bloomington, IL 61705
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    Buildable Lot in Crestwicke Community
    $127,000
    0.52 Acres

    Buildable Lot in Crestwicke Community

    Expansive .52 acre lot for dream home in Bloomington, IL.

    lot 32 - 15875 Belfry Dr, Bloomington, IL 61705
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    Turnkey Multifamily Property in Bloomington
    $199,900

    Turnkey Multifamily Property in Bloomington

    Well-maintained 3-unit property with major updates and strong rental appeal.

    1003 W Jackson St, Bloomington, IL 61701
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    Residential Land in Crestwicke Neighborhood
    $75,000
    0.40 Acres

    Residential Land in Crestwicke Neighborhood

    Buildable 0.4-acre lot in Bloomington's Crestwicke neighborhood.

    lot 13 - 15850 Palmer Way, Bloomington, IL 61705
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    Residential Lot in Quiet Neighborhood
    Contact for pricing
    0.51 Acres

    Residential Lot in Quiet Neighborhood

    Residential lot near Route 66, town amenities, motivated seller.

    7 Block 11, Chenoa, IL 61726
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    Residential Land in Century Oaks
    $78,000

    Residential Land in Century Oaks

    Homesite in Century Oaks Subdivision, Lexington, IL. City utilities available.

    201 E Angela Cir, Lexington, IL 61753
    View details

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    Keller Williams Bloomington
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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.

    More about this property
    Keller Williams Bloomington
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