Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Professional Office Suite For Rent Title is generated by Realmo AI

    2206 Eastland Dr, Bloomington, IL 61704

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Professional office suite with private entrance and multiple rooms.

    Type:Office
    Added:
    Aug 21, 2024
    Days on Market:
    655
    Last Refresh:
    May 12 at 10:46 pm

    Property Features for 2206 Eastland Dr

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    2003

    Spaces For Lease

    at 2206 Eastland Dr Contact us

    $16/Mo

    Size
    3,432 SF
    Type
    Office
    Contact us

    We can help!

    Listing Contact
    Meghan O'Neal-Rogozinski, CCIM
    Meghan O'Neal-Rogozinski, CCIM

    Listing agent Meghan O'Neal-Rogozinski, CCIM License #Bloomington IL 475159841

    Listing office Axis 360 Commercial Real Estate Specialists

    Listing date Aug 21, 2024

    Source Crexi

    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 Axis 360 Commercial Real Estate Specialists

    HighLights

    • Private entrance directly from the parking lot.
    • Professionally finished office suite featuring a reception area, waiting room, private offices, and kitchen/break area.
    • Two public bathrooms and a private restroom within an office.
    • Energy code entryway.
    • Low building turnover.

    Overview

    This professional office suite features a private entrance accessible from the parking lot. The suite includes a reception area, waiting room, private offices, two public bathrooms, and a kitchen/break area. One private office has its own restroom. The space has been operating as Healthy Living Family Chiropractic for almost 10 years and is located in Bloomington, IL.
    Location Intelligence

    Current Use by Public Records

    GFI Digital Tech Support Center PTC Inc Trucking Company Mortgage - Bank of America Loan Service Speech & Language Rehab ... Physician Slagle Financial Financial Advisor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    McLean
    State
    Illinois
    Longitude
    -88.944578
    Latitude
    40.4849569

    Nearby Similar for Lease

    • $11 SF/Yr
      1,200 SF

      Flex Space End-Unit with Loading

      Corner flex unit with equal office and warehouse space, featuring an overhead door and private restroom for operational convenience.
      1624 Commerce Parkway, Unit F, Bloomington, IL 61704
      View Details
    • $1,650/Mo
      2,100 SF

      Versatile Flex Space For Lease

      2,100 SF flex space suitable for various business uses.
      2804 Tractor Lane, Bloomington, IL 61704
      View Details
    • $9 SF/Yr
      2,100 SF

      Flexible Space with Overhead Door

      2,100 SF flexible space suitable for various commercial uses.
      2804 Tractor Ln, Bloomington, IL 61704
      View Details
    • $13 SF/Yr
      13,713 SF

      Office Space Near Veterans Parkway

      Office spaces for lease in a well-located Bloomington property.
      808 S Eldorado Rd, Bloomington, IL 61704
      View Details
    • Contact for pricing

      Professional Office Space Available

      Configured space suitable for healthcare, executive, or administrative use.
      1319 N Veterans Parkway, Bloomington, IL 61704
      View Details
    • $13 SF/Yr
      18,000 SF

      Versatile Office Space Available

      Adaptable office space with natural light in Bloomington, Illinois.
      1615 Commerce Parkway, Bloomington, IL 61704
      View Details
    • $9 SF/Yr
      12,970 SF

      Functional Office Unit For Rent

      Office unit with private offices, receptionist area, and bathrooms.
      1001 Croxton Avenue, Bloomington, IL 61701
      View Details
    • Contact for pricing

      Office Space in Bloomington, IL

      Office space available for rent near established business park.
      2201 Eastland Drive, Bloomington, IL 61704
      View Details
    • $13 SF/Yr
      86,000 SF

      Historic Downtown Bloomington Office Suites

      Office suites available in the historic Illinois House building.
      207 W. Jefferson St., Bloomington, IL 61701
      View Details
    • Contact for pricing

      Office Space in Central Location

      Office space for rent in a central Bloomington location.
      901 E Grove Street, Bloomington, IL 61701
      View Details
    • Contact for pricing

      Bloomington Office Space For Rent

      Office space available in a central Bloomington location.
      901 E Grove Street, Bloomington, IL 61701
      View Details
    • Contact for pricing

      Office Space in Central Location

      Office space for rent in Bloomington, Illinois.
      901 E Grove Street, Bloomington, IL 61701
      View Details

    FAQs

    What type of property is this?
    Office units - Professional office suite with private entrance and multiple rooms.
    Where is this office units located?
    The property is located at 2206 Eastland Dr Bloomington, IL.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Private entrance directly from the parking lot.; Professionally finished office suite featuring a reception area, waiting room, private offices, and kitchen/break area.; Two public bathrooms and a private restroom within an office.
    (309) 664-3617 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Meghan O'Neal-Rogozinski, CCIM
    Meghan O'Neal-Rogozinski, CCIM
    Real Estate License ID: Bloomington IL 475159841
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2206 Eastland Dr, Bloomington, IL 61704
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!