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    1609 W Market St Bloomington, IL 61701

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    For Sale
    $2,623,500

    Retail property with a new 10-year corporate lease.

    Property size:
    2,265 SF
    Lot size:
    1.00 Acre

    Property Features for 1609 W Market St

    General Information

    Size
    2,265 SF
    Lot size
    1.00 Acre

    Source: Marcus & Millichap | Phoenix Agent Mark Ruble

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Bloomington Retail Property For Sale

    This retail property features a new 10-year corporate lease with no early termination clause. The lease includes 7% rental increases every 5 years in the base term and options. The property is located in one of the fastest-growing metro areas in Illinois, experiencing residential, commercial, and industrial growth. It is situated minutes from a $2+ billion Rivian Manufacturing Plant with over 8,000 employees and a $1.5 billion expansion under construction. The property has a size of 2265 square feet.
    Location Intelligence

    Current Use by Public Records

    Starbucks Internet Cafe

    Suggested Use

    Restaurant Building Supply Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Nail Salon Gym & Fitness Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    McLean
    State
    Illinois
    Longitude
    -89.0170229
    Latitude
    40.4836953

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    FAQs

    What type of property is this?
    Storefront property - Retail property with a new 10-year corporate lease.
    Where is this storefront property located?
    The property is located at 1609 W Market St Bloomington, IL.
    What is the asking price?
    The asking price for this property is $2,623,500.
    What are key features of this property?
    This property features: - New 10-Year Corporate Lease with No Early Termination Clause; - Minutes to $2+ Billion Rivian Manufacturing Plant with 8,000+ Employees, $1.5 Billion Expansion Under Construction; - 7% Rental Increases Every 5 Years in the Base Term and Options
    (602) 770-2935
    Request Owner's contact information
    1609 W Market St Bloomington, IL 61701
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    Bloomington, IL 61701
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    Realmo Value Estimation

    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.

    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.

    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
    1609 W Market St Bloomington, IL 61701
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