Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    Susan Dr, Unit 21 Normal, IL 61761

    Sponsored
    For Sale
    $375,000

    LAND - Normal, IL

    Lot size:
    1.37 Acres
    Days on Market:
    52
    Last Refresh:
    Jan 21 at 5:06 am

    Property Features for Susan Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    1426228060
    Lot size
    1.37 Acres

    We can help!

    Listing Contact
    Corey Leach
    Corey Leach

    RE/MAX Rising (309) 275-9333 [email protected]

    Listing agent Corey Leach (309) 750-3005

    Listing date Dec 1, 2025

    MLS# 12524038 Listing URL

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Commercial Lot Near Veterans Parkway

    This 1.37-acre commercial lot is located in Normal, Illinois, between Walmart and Meijer. Zoned B-1, the lot is situated on Susan Drive within 1500 feet of retail shops, restaurants, hotels, grocery stores, professional offices, and both single and multifamily residential areas. The property is one block from Veterans Parkway, offering convenient access to Interstates 55, 39, and 74. The lot features 217 feet of frontage on Susan Drive and 319 feet along Parkway Court.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Normal
    County
    McLean
    State
    Illinois
    Longitude
    -88.9474253
    Latitude
    40.5158724

    Nearby Similar for Sale

    • $289,000

      Medical Office Condo For Sale

      Well-located medical office condo in Normal, Illinois.
      2200 Fort Jesse Rd, Normal, IL 61761
      View Details
    • $929,000
      0.40 Acres

      Well-Maintained Multifamily Near Illinois State

      8-unit property near Illinois State University with strong rental income potential.
      506 N Linden St, Normal, IL 61761
      View Details
    • $270,000
      1,751 SF

      Updated Home in Beechwood Commons

      Well-maintained 3-bedroom home with modern updates and community amenities.
      440 Beechwood Ct, Normal, IL 61761
      View Details
    • $850,000

      Wilmette Investment Property with Parking

      Single tenant property with buildable parking lot in Wilmette.
      819 Ridge Rd, Wilmette, IL 60091
      View Details
    • Contact for pricing
      30,000 SF

      New Retail Space Available

      New construction retail space for sale or lease in Normal.
      1720-1750 Bradford Ln, Normal, IL 61761
      View Details
    • $228,600

      Inviting Corner-Lot Home

      3-bedroom, 2.5-bath home in Beacon Hill Subdivision.
      1110 Henry St, Normal, IL 61761
      View Details
    • $310,000
      855 SF

      Historic Landmark Retail Building

      Retail building for sale, ground lease with renewal potential.
      351 Linden Ave, Wilmette, IL
      View Details
    • $1,290,000
      3,490 SF

      Steak 'n Shake Investment Opportunity

      NNN leased Steak 'n Shake with drive-thru in Normal, IL.
      614 W Raab Rd, Normal, IL 61761
      View Details
    • Contact for pricing

      Retail Center in College Town

      144,555 SF shopping center in Bloomington-Normal, Illinois.
      314 Towanda Ave, Normal, IL 61761
      View Details
    • $1,522,500
      1,490 SF

      Sonic Restaurant in Normal, Illinois

      NNN leased Sonic restaurant property for sale in Normal, IL.
      302 Greenbriar Dr, Normal, IL 61761
      View Details
    • $450,000
      1,000 SF

      Wilmette Medical Office Condo - Lake Ave

      Prime Wilmette location, 1000 sq ft, high visibility.
      1921 Lake Ave, Wilmette, IL 60091
      View Details
    • $985,000
      5,600 SF

      Wilmette Mixed-Use Investment Opportunity

      Prime Wilmette location, 7-unit building, high traffic.
      901 Ridge Rd, Wilmette, IL 60091
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.37 acre commercial lot in Normal, Illinois, for sale.
    Where is this commercial land located?
    The property is located at Susan Dr, Unit 21 Normal, IL.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: - Prime commercial lot location between Walmart and Meijer.; - Zoned B-1 for business use.; - Easy access to Interstates 55/39/74.
    (309) 750-3005
    Request Owner's contact information
    Susan Dr, Unit 21 Normal, IL 61761
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Susan Dr, Unit 21
    Normal, IL 61761
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Susan Dr, Unit 21 Normal, IL 61761
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Corey Leach
    Corey Leach
    Real Estate License ID: 475160068
    (309) 750-3005
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.