Turnkey Warehouse with Dock
For Sale
$3,461,461
1008 Wylie Drive, Bloomington, IL 61705
New 13,440 SF warehouse features insulated metal roof, 24-foot clearance, and three overhead doors.
Property Size13,440 SF
Price / SF$257.55
Days on Market51
Property Features for 1008 Wylie Drive
General Information
Standard status
Active
Size
13,440 SF
Property subtype
Industrial
Warehouse & Industrial
Clear Height
24 ft
Dock-High Doors
2
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Building Size
13,440 SF
Year Built
2025
Listing Agency:
SVN | Core 3
(217) 722-3584
Listed By:
Jill Spratt · License #471022624
(217) 722-3584
Source:
Svn
Added: Jun 29
Changed: Aug 8
Last Checked: Aug 17 at 5:54AM
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.
Newly constructed in 2025, this warehouse facility offers 13,440 square feet designed for logistics use. The building sits on an 8-inch poured concrete ground slab and is framed in wood with enameled steel exterior walls and an insulated metal roof. Clearance averages 24 feet. There are three large overhead doors, including two dock doors and one drive-in door.
The property is described as being in close proximity to interstates. The offering includes established rental income supported by a long-term lease.
As a turnkey asset with modern construction and logistics-focused door configuration, the building is positioned for continued, stable occupancy under the existing tenancy.
The property is described as being in close proximity to interstates. The offering includes established rental income supported by a long-term lease.
As a turnkey asset with modern construction and logistics-focused door configuration, the building is positioned for continued, stable occupancy under the existing tenancy.
Key Highlights
- New 13,440 SF commercial warehouse built in 2025
- 24‑foot average clearance height for warehouse storage and logistics
- Insulated metal roof with 8‑inch poured concrete ground slab
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$112,707
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,254,140
$2.3M
Cap Rate 7%
$1,610,100
$1.6M
Cap Rate 9%
$1,252,300
$1.3M
Market Conditions
NOI Build-Up for 13,440 SF
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.
Gross rent
$140.3K $10.44/SF
− Vacancy
−$7.7K −$0.57/SF
EGI
$132.6K $9.87/SF
− OpEx
−$19.9K −$1.48/SF
NOI
$112.7K $8.39/SF
Area
McLean County, IL
Vacancy
5.50%
Lease Rate
$10.44 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,254,140
Cap Rate 7%
$1,610,100
Cap Rate 9%
$1,252,300
Alternative Uses
Best Use
Warehouse
$1.61M
$1.41M – $1.88M
NOI $112,707 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.80M
$2.45M – $3.27M
NOI $196,116 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24 ft
Clear height
2
Dock-high doors
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 61705, IL
14,682
Population
5,378
Households
2.7
Avg Household Size
39
Median Age
57%
College-Educated
98%
High-School Grad
86.9 sq mi
ZIP Area
169
Density / Sq Mi
$120,470
Median Household Income
$67,609
Median Earnings
$1,294
Median Rent
$310,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - New 13,440 SF warehouse features insulated metal roof, 24-foot clearance, and three overhead doors.
Where is this warehouse located?
The property is located at 1008 Wylie Drive Bloomington, IL.
What is the asking price?
The asking price for this property is $3,461,461.
What are key features of this property?
This property features: New 13,440 SF commercial warehouse built in 2025; 24‑foot average clearance height for warehouse storage and logistics; Insulated metal roof with 8‑inch poured concrete ground slab
