Flex Building With Attached
For Sale
$869,000
14 Currency Drive, Bloomington, IL 61704
All-brick commercial property combines professional office improvements with adaptable light-industrial space and potential for multiple suites.
Property Size7,220 SF
Days on Market296
Property Features for 14 Currency Drive
General Information
Standard status
Active
Size
7,220 SF
Property subtype
Commercial
Zoning
COMMR
Additional Details
Warehouse Space
1,800 SF
Taxes and HOA fees
Annual Taxes
$16,050
Amenities
reception area
nine private offices
four restrooms
dedicated storage/IT room
large employee kitchen
coffee room
meeting room
conference room
Building Details
Building Size
7,220 SF
Year Built
1996
Buildings
1
Stories
1
Construction
brick
Listing Agency:
BHHS Central Illinois, REALTORS
(309) 663-7653
Listed By:
Melissa Dittbenner · License #475175689
Source:
Allinonerealestateco
Added: Nov 7, 2025
Changed: Aug 29
Last Checked: Aug 29 at 5:43PM
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 BHHS Central Illinois, REALTORS
Investment Insights
Based on property information with market context.
This all-brick flex property includes a stone-accented exterior and a substantial office component. Interior improvements comprise a reception area, nine private offices, four restrooms, a storage and IT room, employee kitchen, coffee room, meeting room, and conference room. The conference area can also support cubicle or bullpen-style workstations. ADA compliance and the reported well-maintained condition add practical functionality for continued occupancy.
An attached 30' x 60' warehouse expands the building's utility, with two overhead doors and an explosion-proof drain. The property is zoned COMMR and was built in 1996. Its layout can accommodate up to three separate suites, supporting a range of owner-user or leasing configurations at 14 Currency Drive in Bloomington, Illinois.
An attached 30' x 60' warehouse expands the building's utility, with two overhead doors and an explosion-proof drain. The property is zoned COMMR and was built in 1996. Its layout can accommodate up to three separate suites, supporting a range of owner-user or leasing configurations at 14 Currency Drive in Bloomington, Illinois.
Key Highlights
- Attached 30' x 60' warehouse with two overhead doors
- Office layout includes 9 private offices and 4 restrooms
- Conference room can accommodate cubicles or bullpen‑style workstations
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
$60,546
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
6.97%
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%
$1,210,920
$1.2M
Cap Rate 7%
$864,943
$864.9K
Cap Rate 9%
$672,733
$672.7K
Market Conditions
NOI Build-Up for 7,220 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
$75.4K $10.44/SF
− Vacancy
−$4.1K −$0.57/SF
EGI
$71.2K $9.87/SF
− OpEx
−$10.7K −$1.48/SF
NOI
$60.5K $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%
$1,210,920
Cap Rate 7%
$864,943
Cap Rate 9%
$672,733
Alternative Uses
Best Use
Office B
$1.23M
$1.08M – $1.44M
NOI $86,423 @ 7.0% cap · market cap 9.95%
Second Best
Warehouse
$864.9K
$756.8K – $1.01M
NOI $60,546 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,354 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 61704, IL
37,129
Population
16,529
Households
2.2
Avg Household Size
38
Median Age
58%
College-Educated
97%
High-School Grad
19.0 sq mi
ZIP Area
1,954
Density / Sq Mi
$93,107
Median Household Income
$59,072
Median Earnings
$1,094
Median Rent
$242,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - All-brick commercial property combines professional office improvements with adaptable light-industrial space and potential for multiple suites.
Where is this flex space located?
The property is located at 14 Currency Drive Bloomington, IL.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: Attached 30' x 60' warehouse with two overhead doors; Office layout includes 9 private offices and 4 restrooms; Conference room can accommodate cubicles or bullpen‑style workstations
