Multi-Tenant Flex
For Sale
$1,985,000
200 E Lafayette St, Bloomington, IL 61701
Modular industrial space combines warehouse bays, office suites, loading facilities, and fenced outdoor storage.
Property Size18,870 SF
Lot Size1.52 Acres
Price / SF$105.19
Days on Market15
Property Features for 200 E Lafayette St
General Information
Standard status
Active
Size
18,870 SF
Class
C
Lot size
1.52 Acres
Property subtype
Industrial - Flex - Industrial
Zoning
M-1
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Span
Yes
Dock-High Doors
2
Drive-In Doors
6
Building Details
Building Size
18,870 SF
Year Built
1973
Buildings
1
Units
8
Tenancy
Multi
Listing Agency:
SVN | Core 3
Listed By:
Jill Spratt · License #471022624
(217) 722-3584
Source:
Commercialcafe
Added: Sep 21
Changed: Oct 4
Last Checked: Oct 4 at 6:44AM
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 multi-tenant flex property in Bloomington, IL, contains 18,870 square feet on 1.52 acres and carries M-1 zoning. The building offers clear-span warehouse bays, six drive-in doors, two exterior docks, street-front office suites, finished lower-level space, and a fenced outdoor storage lot. Its modular layout allows spaces to be combined or divided for different occupancy requirements.
Most leases run through 2030 and include annual escalations, supporting the property’s existing multi-tenant configuration. The asset is positioned for an investor or an owner-user seeking a combination of industrial, warehouse, and office functionality. Nearby Central Illinois Regional Airport, Illinois State University, and the Intermodal Transportation Facility add established institutional and transportation context to the Bloomington setting.
Most leases run through 2030 and include annual escalations, supporting the property’s existing multi-tenant configuration. The asset is positioned for an investor or an owner-user seeking a combination of industrial, warehouse, and office functionality. Nearby Central Illinois Regional Airport, Illinois State University, and the Intermodal Transportation Facility add established institutional and transportation context to the Bloomington setting.
Key Highlights
- 18,870 SF flex and industrial building on 1.52 acres
- M‑1 zoning with clear‑span warehouse bays
- Six drive‑in doors and two exterior docks
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$158,242
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,164,840
$3.2M
Cap Rate 7%
$2,260,600
$2.3M
Cap Rate 9%
$1,758,244
$1.8M
Market Conditions
NOI Build-Up for 18,870 SF
Gross rent
$197.0K $10.44/SF
− Vacancy
−$10.8K −$0.57/SF
EGI
$186.2K $9.87/SF
− OpEx
−$27.9K −$1.48/SF
NOI
$158.2K $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 Rate 5%
$3,164,840
Cap Rate 7%
$2,260,600
Cap Rate 9%
$1,758,244
Alternative Uses
Best Use
Warehouse
$2.26M
$1.98M – $2.64M
NOI $158,242 @ 7.0% cap · market cap 7.97%
Second Best
Industrial
$1.86M
$1.63M – $2.17M
NOI $130,317 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$3.93M
$3.44M – $4.59M
NOI $275,351 @ 7.0% cap · market cap 13.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Dock-high doors
6
Drive-in doors
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 61701, IL
34,497
Population
18,038
Households
1.9
Avg Household Size
37
Median Age
37%
College-Educated
92%
High-School Grad
11.0 sq mi
ZIP Area
3,136
Density / Sq Mi
$55,882
Median Household Income
$37,674
Median Earnings
$873
Median Rent
$138,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Modular industrial space combines warehouse bays, office suites, loading facilities, and fenced outdoor storage.
Where is this flex space located?
The property is located at 200 E Lafayette St Bloomington, IL.
What is the asking price?
The asking price for this property is $1,985,000.
What are key features of this property?
This property features: 18,870 SF flex and industrial building on 1.52 acres; M‑1 zoning with clear‑span warehouse bays; Six drive‑in doors and two exterior docks
