Renovated Office
For Sale
Contact for pricing
2405 E Washington Street, Bloomington, IL 61704
Eight private offices accompany reception space, a conference room, and a kitchen.
Property Size2,910 SF
Price / SF$2.23
Days on Market11
Property Features for 2405 E Washington Street
General Information
Standard status
Active
Size
2,910 SF
Total Parking Spaces
25
Property subtype
Office/Tech
Zoning
COMMR
Additional Details
Office Units
1
Property Use
Office
Amenities
Varies
Municipal Water
City Street
Concrete Perimeter
Building Details
Year Built
1978
Stories
1
Tenancy
Single
Abandoned
No
Listing Agency:
RE/MAX Rising
(309) 808-2125
Listed By:
Amy Miller
Source:
Core3re
Added: Oct 19
Changed: Oct 28
Last Checked: Oct 28 at 4:42PM
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 RE/MAX Rising
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Investment Insights
Based on property information with market context.
This 2,910-square-foot office unit was renovated and contains eight offices, a reception area, a conference room, and a kitchen. The layout can be divided to accommodate fewer than eight offices. The building dates to 1978, and the property is zoned COMMR.
At 2405 E Washington Street in Bloomington, the property sits between Prospect and Hershey. The resurfaced parking lot provides 25 spaces, and a shared illuminated sign serves the site. The unit is available immediately.
At 2405 E Washington Street in Bloomington, the property sits between Prospect and Hershey. The resurfaced parking lot provides 25 spaces, and a shared illuminated sign serves the site. The unit is available immediately.
Key Highlights
- 2,910‑square‑foot office unit with eight offices
- Reception area, conference room, and kitchen
- Can be divided to provide fewer than eight offices
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,833
Suggested Prices Based on Cap Rates
Cap Rate 5%
$696,660
$696.7K
Cap Rate 7%
$497,614
$497.6K
Cap Rate 9%
$387,033
$387.0K
Market Conditions
NOI Build-Up for 2,910 SF
Gross rent
$61.1K $21.00/SF
− Vacancy
−$14.7K −$5.04/SF
EGI
$46.4K $15.96/SF
− OpEx
−$11.6K −$3.99/SF
NOI
$34.8K $11.97/SF
Area
McLean County, IL
Vacancy
24.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$696,660
Cap Rate 7%
$497,614
Cap Rate 9%
$387,033
Alternative Uses
Best Use
Office B
$497.6K
$435.4K – $580.6K
NOI $34,833 @ 7.0% cap · market cap 535.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$606.6K
$530.8K – $707.7K
NOI $42,463 @ 7.0% cap · market cap 653.28%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,245
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Eight private offices accompany reception space, a conference room, and a kitchen.
Where is this office unit located?
The property is located at 2405 E Washington Street Bloomington, IL.
What are key features of this property?
This property features: 2,910‑square‑foot office unit with eight offices; Reception area, conference room, and kitchen; Can be divided to provide fewer than eight offices
