Flex Space with Outdoor
For Sale
Contact for pricing
1716 E Hamilton Rd, Bloomington, IL 61704
Industrial property combining enclosed space with an outdoor storage yard and multiple roll-up doors.
Property Size13,465 SF
Lot Size1.43 Acres
Price / SF$170.81
Days on Market180
Property Features for 1716 E Hamilton Rd
General Information
Standard status
Active
Size
13,465 SF
Lot size
1.43 Acres
Property subtype
Industrial
Occupancy
100%
Lease Type
Net
Investment Type
Net Lease
Net Operating Income
$119,602
Additional Details
Outdoor Storage
Yes
Clear Height
18 ft
Building Details
Year Built
1994
Year Renovated
1995
Buildings
1
Tenancy
Single
Listing Agency:
Sands Investment Group
Listed By:
Andrew Ackerman · License #GA 311619
Source:
Crexi
Added: Mar 5
Changed: Aug 30
Last Checked: Aug 31 at 6:23AM
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 Sands Investment Group
Investment Insights
Based on property information with market context.
This flex space property provides 13,465 square feet of enclosed industrial area on a 1.43-acre site. The configuration combines indoor operations with outdoor storage, supported by multiple roll-up doors and clear heights reaching 18 feet. Built in 1994, the property is designed around practical industrial functionality.
Located at 1716 E Hamilton Road in Bloomington, Illinois, the site offers yard exposure and accommodates both enclosed and exterior operational needs. The layout is suited to industrial and service-oriented uses requiring a combination of building space and outdoor storage capacity.
Located at 1716 E Hamilton Road in Bloomington, Illinois, the site offers yard exposure and accommodates both enclosed and exterior operational needs. The layout is suited to industrial and service-oriented uses requiring a combination of building space and outdoor storage capacity.
Key Highlights
- 13,465 SF flex space property on 1.43 acres
- Industrial outdoor storage configuration with yard exposure
- Multiple roll‑up doors support loading and access
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
$112,917
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
4.91%
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%
$2,258,340
$2.3M
Cap Rate 7%
$1,613,100
$1.6M
Cap Rate 9%
$1,254,633
$1.3M
Market Conditions
NOI Build-Up for 13,465 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
$140.6K $10.44/SF
− Vacancy
−$7.7K −$0.57/SF
EGI
$132.8K $9.87/SF
− OpEx
−$19.9K −$1.48/SF
NOI
$112.9K $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%
$2,258,340
Cap Rate 7%
$1,613,100
Cap Rate 9%
$1,254,633
Alternative Uses
Best Use
Warehouse
$1.61M
$1.41M – $1.88M
NOI $112,917 @ 7.0% cap · market cap 4.91%
Second Best
Industrial
$1.33M
$1.16M – $1.55M
NOI $92,990 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$2.81M
$2.46M – $3.27M
NOI $196,481 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Well-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 Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial property combining enclosed space with an outdoor storage yard and multiple roll-up doors.
Where is this flex space located?
The property is located at 1716 E Hamilton Rd Bloomington, IL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 13,465 SF flex space property on 1.43 acres; Industrial outdoor storage configuration with yard exposure; Multiple roll‑up doors support loading and access
