Corner Property South of
For Sale
$325,000
807 S Main Street, Bloomington, IL 61701
Corner property with great exposure in Bloomington, Illinois.
Property Size1,946 SF
Price / SF$167.01
Days on Market272
Property Features for 807 S Main Street
General Information
Standard status
Active
Size
1,946 SF
Property subtype
Retail
Building Details
Building Size
1,946 SF
Listing Agency:
SVN Core 3
(331) 452-6860
Listed By:
Carrie Tinucci-Troll, CCIM · License #IL475166842
(331) 452-6860
Source:
Svn
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: Aug 20 at 4:38AM
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 SVN Core 3
Investment Insights
Based on property information with market context.
Located just south of downtown Bloomington, the property at 807 S. Main Street is a corner lot with entrances to both North and South Main. The existing property, formerly a gas station and convenience store, includes a 1946 SF building and a smaller building previously used for a car wash. Zoned B-1, the property offers great exposure to northbound and southbound traffic. The surrounding area includes restaurants and businesses, with proximity to Illinois State University and Illinois Wesleyan University. The property is being sold with some restrictions in place.
Key Highlights
- Corner lot location on Main Street.
- High exposure to northbound and southbound traffic.
- Zoned B‑1, offering various business opportunities.
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
$23,985
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
7.38%
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%
$479,700
$479.7K
Cap Rate 7%
$342,643
$342.6K
Cap Rate 9%
$266,500
$266.5K
Market Conditions
NOI Build-Up for 1,946 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
$35.0K $18.00/SF
− Vacancy
−$3.0K −$1.57/SF
EGI
$32.0K $16.43/SF
− OpEx
−$8.0K −$4.11/SF
NOI
$24.0K $12.33/SF
Area
McLean County, IL
Vacancy
8.70%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$479,700
Cap Rate 7%
$342,643
Cap Rate 9%
$266,500
Alternative Uses
Best Use
Specialty Retail
$342.6K
$299.8K – $399.8K
NOI $23,985 @ 7.0% cap · market cap 7.38%
Second Best
Retail
$268.5K
$235.0K – $313.3K
NOI $18,798 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$405.7K
$355.0K – $473.3K
NOI $28,396 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
840
Businesses Nearby
18k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Dining 29%
Huck's
Shops & Services
12,574 visits/mo
0.2 miles
Denny's
Dining
5,183 visits/mo
0.2 miles
AAMCO Transmissions
Shops & Services
271 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Gas station - Corner property with great exposure in Bloomington, Illinois.
Where is this gas station located?
The property is located at 807 S Main Street Bloomington, IL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Corner lot location on Main Street.; High exposure to northbound and southbound traffic.; Zoned B‑1, offering various business opportunities.
