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    Retail-Office Building with Overhead Door Title is generated by Realmo AI

    909 W Bloomington Road, Champaign, IL 61821

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    For Sale
    $698,000

    COMMERCIAL - Champaign, IL

    Type:Retail
    Property size:
    5,700 SF
    Lot size:
    0.40 Acres
    Price / SF:
    $122/SF
    Added:
    Nov 7, 2025
    Days on Market:
    213
    Last Refresh:
    Jun 8 at 3:06 am

    Property Features for 909 W Bloomington Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Zoning
    COMMR
    Standard status
    Active
    APN
    412002430027
    Size
    5,700 SF
    Lot size
    0.40 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Lots 20, 21, pt 22 Sunny Knoll
    Tax Annual Amount
    14593

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1962
    Floors in Building
    1
    Number of units
    1
    Building materials
    Brick

    We can help!

    Listing Contact
    Sara Terry
    Sara Terry

    Listing agent Sara Terry License #475179263

    Listing office Taylor Realty Associates 116 S Lombard P.O. Box 110, Mahomet, IL

    Listing date Nov 7, 2025

    MLS# 12513602

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑visibility location near a heavily traveled intersection in Champaign.
    • 5,700 sq ft building adaptable to retail and office/retail use.
    • Potential for three separate units with minimal renovation.
    • Includes over 1,500 sq ft of warehouse space with a large overhead garage door.
    • Three separate powerheads for easy billing to individual units.
    • Existing month‑to‑month tenant provides immediate income ($1,300/month).

    Overview

    This commercial building is currently configured for retail and office/retail use, with interior flexibility that supports multiple leasing scenarios. Approximately 5,700 square feet is separated into two units, with an option to add a third unit by installing a wall. The building includes three bathrooms. In addition, it offers over 1,500 square feet of warehouse space with a large overhead garage door, providing practical access for deliveries and storage.

    Located at 909 W Bloomington Road in Champaign, the property is described as being within view of a heavily traveled intersection. The building is equipped with three separate powerheads, which can support easier billing if the space is operated as separate units.

    For tenants or owners seeking a multi-use setup, the combination of retail/office space plus dedicated warehouse functionality can accommodate a range of businesses that need storefront presence and back-of-house capacity. The current arrangement includes a month-to-month tenant, with the seller collecting $1,300 per month while using the retail and warehouse space of the building.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $99.2k $17.40
    − Vacancy −$21.8k −$3.83
    EGI $77.4k $13.57
    − OpEx −$19.3k −$3.39
    NOI $58.0k $10.18
    5,700 SF · lease $17.40/SF/yr · vacancy 22.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $828.9K
    $725.3K – $967.0K (±1% cap)
    NOI $58,020 @ 7.0% cap · market cap 8.31%
    Second Best
    Retail
    $688.4K
    $602.4K – $803.2K (±1% cap)
    NOI $48,191 @ 7.0% cap · market cap 6.90%
    Theoretical Best
    Office A
    $1.19M
    $1.04M – $1.38M (±1% cap)
    NOI $83,010 @ 7.0% cap · market cap 11.89%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Champaign Appliance Center Home Appliance Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.259576
    Latitude
    40.132575

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    FAQs

    What type of property is this?
    Retail space - Versatile retail and office building with warehouse space and a large overhead garage door for flexible tenant use.
    Where is this retail space located?
    The property is located at 909 W Bloomington Road Champaign, IL.
    What is the asking price?
    The asking price for this property is $698,000.
    What are key features of this property?
    This property features: High‑visibility location near a heavily traveled intersection in Champaign.; 5,700 sq ft building adaptable to retail and office/retail use.; Potential for three separate units with minimal renovation.
    (217) 355-0700
    We can help!
    Listing Contact
    Sara Terry
    Sara Terry
    Real Estate License ID: 475179263
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    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
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