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    1603-1605 Morrissey Dr Bloomington, IL 61704

    Sponsored
    For Lease
    $12 SF/Yr

    Prime Retail Space, Veterans Parkway Visibility

    Lot size:
    23,181 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Morrissey Crossing, a Class B retail pad strip center in Bloomington, Illinois, presents exceptional lease opportunities. Located at 1603-1605 Morrissey Drive, this property boasts high visibility from Veterans Parkway, a major thoroughfare. The center offers a total of 23,181 square feet of retail space, with multiple tenancy options available. Units range from a minimum of 1,500 square feet to a maximum contiguous space of 19,465 square feet. Currently, 27,563 square feet is vacant, presenting significant potential for new businesses. The property sits on a 2.32-acre lot (APN 21-15-203-008) and is zoned B-1. Ample parking is available for customers and employees. Recent improvements include fresh paint throughout the center. This location offers excellent access and exposure, making it an ideal choice for retailers seeking a high-traffic area in McLean County. The property's strategic placement at the southwest corner of Veterans Parkway and Morrissey Drive ensures strong visibility and convenient access for customers. This is a rare opportunity to secure prime retail space in a thriving Bloomington location. Contact us today to learn more about available spaces and lease terms.

    Property Features for 1603-1605 Morrissey Dr

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    23,181 SF
    Class
    B
    Total Rate
    23181

    Unit(s) available at that property

    Space
    1605 - Unit 101
    Size
    4,120 SF
    Rate per SF
    $15
    Space
    Suite 1603 - Redevelopment
    Size
    19,465 SF

    HighLights

    • High visibility from Veterans Parkway with ample on‑site parking.
    • Excellent redevelopment potential for both suites.
    • Recently upgraded building and parking area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    McLean
    State
    Illinois
    Longitude
    -88.9728746
    Latitude
    40.4591016

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    FAQs

    What type of property is this?
    Retail property - Prime Retail Space, Veterans Parkway Visibility
    Where is this retail property located?
    The property is located at 1603-1605 Morrissey Dr Bloomington, IL.
    What is the lease rate?
    The lease rate is $0.00-$15 SF/Yr.
    What are key features of this property?
    This property features: High visibility from Veterans Parkway with ample on-site parking.; Excellent redevelopment potential for both suites.; Recently upgraded building and parking area.
    Request Owner's contact information
    1603-1605 Morrissey Dr Bloomington, IL 61704
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    Realmo Value Estimation

    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.

    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.

    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
    1603-1605 Morrissey Dr Bloomington, IL 61704
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