Versatile Office Property with
For Sale
Contact for pricing
803 E LAFAYETTE ST, Bloomington, IL 61701
Functional office building with training areas and secured outdoor storage.
Property Size13,580 SF
Lot Size1.80 Acres
Price / SF$88.37
Days on Market152
Property Features for 803 E LAFAYETTE ST
General Information
Standard status
Active
Size
13,580 SF
Class
A
Lot size
1.80 Acres
Property subtype
Office, Industrial
Zoning
M1
Building Details
Year Built
1972
Stories
1
Units
1
Listing Agency:
Axis 360 Commercial Real Estate Specialists
Listed By:
Michael O'Neal · License #Bloomington IL 475128028
(309) 664-3617
Source:
Crexi
Added: May 14
Changed: Oct 6
Last Checked: Oct 11 at 4:22AM
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
Investment Insights
Based on property information with market context.
This professional office property offers a combination of executive office space, workforce training areas, operational flexibility, and secured outdoor storage. Situated on a 1.8-acre fenced lot, the property features a thoughtfully designed first floor with two distinct wings, allowing for owner occupancy, multi-department operations, or multi-tenant income potential. The first floor includes an impressive foyer entry with elevator access, an executive conference room, and a private office suite configuration on the east side. The west side is configured with approximately 20 cubicle workstations, separate restroom facilities, and a break room and kitchenette area. The layout is flexible for single-user occupancy, separate tenant suites, or departmental separation. The east side lower level features a large training and meeting room, divisible space for multiple classrooms or collaborative work areas, men’s and women’s restrooms, a small kitchenette area, and ample storage space. It is ideal for safety training, workforce development, team meetings, and continuing education programs. The west side lower level is a previously finished office area ready for renovation and customization, offering an opportunity for expansion, additional tenant space, or operational storage. Exterior and site amenities include a fully fenced property for added security, a separate garage/outbuilding structure, and ample parking and outdoor storage capability. The property is suitable for contractors requiring fleet, equipment, or material storage. The property size is 13580 square feet.
Key Highlights
- Spacious 1.8‑acre fenced lot with secured outdoor storage.
- Versatile property suitable for owner occupancy, multi‑tenant income, or departmental separation.
- Executive office space, conference room, and cubicle workstations on the first floor.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,784
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,875,680
$1.9M
Cap Rate 7%
$1,339,771
$1.3M
Cap Rate 9%
$1,042,044
$1.0M
Market Conditions
NOI Build-Up for 13,580 SF
Gross rent
$141.8K $10.44/SF
− Vacancy
−$7.8K −$0.57/SF
EGI
$134.0K $9.87/SF
− OpEx
−$40.2K −$2.96/SF
NOI
$93.8K $6.91/SF
Area
McLean County, IL
Vacancy
5.50%
Lease Rate
$10.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,875,680
Cap Rate 7%
$1,339,771
Cap Rate 9%
$1,042,044
Alternative Uses
Best Use
Office B
$2.32M
$2.03M – $2.71M
NOI $162,553 @ 7.0% cap · market cap 13.55%
Second Best
Industrial
$1.34M
$1.17M – $1.56M
NOI $93,784 @ 7.0% cap · market cap 7.82%
Theoretical Best
Office A
$2.83M
$2.48M – $3.30M
NOI $198,159 @ 7.0% cap · market cap 16.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
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
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Functional office building with training areas and secured outdoor storage.
Where is this office building located?
The property is located at 803 E LAFAYETTE ST Bloomington, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Spacious 1.8‑acre fenced lot with secured outdoor storage.; Versatile property suitable for owner occupancy, multi‑tenant income, or departmental separation.; Executive office space, conference room, and cubicle workstations on the first floor.
