Four-Unit Building on Empire
1316 East Empire Street Bloomington, IL 61701
For Sale
$495,000
Four-unit building with diverse tenants and redevelopment potential.
Property Size2,100 SF
Price / SF$235.71
Days on Market140
Property Features for 1316 East Empire Street
General Information
- Standard status
- Active
- Size
- 2,100 SF
- Property subtype
- Retail
Listing Agency:
SVN | Core 3
(331) 452-6860
Listed By:
Carrie Tinucci-Troll, CCIM · License #IL475166842
(331) 452-6860
Source:
Svn
Added: Mar 6
Changed: Jul 10
Last Checked: Jul 23 at 5:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN | Core 3
Investment Insights
Based on property information with market context.
This four-unit building is located along a busy thoroughfare. One suite was renovated in recent years and is currently leased to a beauty salon. Another suite houses an escape room. A dance studio has occupied another suite for approximately eight years. One suite, comprising 2,100 square feet, is currently vacant, presenting an opportunity for retail or office use, or for an owner-occupier. The property includes two rows of parking on the lower level. The building is located on the frontage road along Empire Street, between Veterans Avenue and Towanda Avenue, across from the Bloomington Country Club. The location offers high visibility.
Key Highlights
- Central location on a busy thoroughfare (E. Empire) offers high visibility.
- Mix of established tenants (beauty salon, escape room, dance studio) provides immediate income.
- One 2,100 SF vacancy presents an opportunity for new tenant or owner‑occupier.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.5k | $15.00 |
| − Vacancy | −$2.5k | −$1.20 |
| EGI | $29.0k | $13.80 |
| − OpEx | −$8.7k | −$4.14 |
| NOI | $20.3k | $9.66 |
2,100 SF · lease $15.00/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$289.8K
$253.6K – $338.1K
NOI $20,286 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$437.8K
$383.0K – $510.7K
NOI $30,643 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
L•U•S•H on Empire
Hair Salon
Escapetown Bloomington - Escape ...
Arcade & Gaming Center
McLean County Dance ...
Training Center
Delta Community Co
Atm
DNDC
Telecommunications Service
FAQs
What type of property is this?
Retail space - Four-unit building with diverse tenants and redevelopment potential.
Where is this retail space located?
The property is located at 1316 East Empire Street Bloomington, IL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Central location on a busy thoroughfare (E. Empire) offers high visibility.; Mix of established tenants (beauty salon, escape room, dance studio) provides immediate income.; One 2,100 SF vacancy presents an opportunity for new tenant or owner‑occupier.
