Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Nec Market St & Wylie Dr Bloomington, IL 61705

    • Land
    • 1.14 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Nec Market St & Wylie Dr

    Lot size
    1.14 lot acres
    Property type
    Land

    Description

    This exceptional investment opportunity presents two adjacent commercial land parcels in Bloomington, Illinois, ideally situated at the northeast corner of Market Street and Wylie Drive (61705). The properties offer significant potential for a variety of commercial uses. Parcel one encompasses approximately 1.14 acres and is priced at $350,000. Its APN is 21-06-103-004 and 21-06-103-005. Parcel two, significantly larger at approximately 2.53 acres, is listed at $750,000 and has an APN of 21-06-126-006. Both parcels are located in McLean County and benefit from their proximity to a newly constructed Aldi store, suggesting high visibility and strong foot traffic potential. The location is particularly well-suited for fast-food restaurants or highway retail establishments, given its strategic placement at a major intersection. This is a rare chance to acquire prime commercial land in a thriving area, offering excellent potential for immediate development or future appreciation. Detailed site plans and surveys are available upon request. Don't miss this opportunity to secure a valuable asset in a high-demand location. Contact us today to learn more about this exciting investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    McLean
    State
    Illinois
    Longitude
    -89.037
    Latitude
    40.4862

    Comparable in this City

    • Value Estimation by Request

      1029 Maple Hill Rd

      Land
      1029 Maple Hill Rd, Bloomington, IL 61705
      View Details
    • Value Estimation by Request

      Avalon Way

      Land
      0 Avalon Way, Bloomington, IL 61705
      View Details
    • Value Estimation by Request
      3.10 Acres

      I55 And Market St

      Land • 3.10 Acres
      I55 And Market St, Bloomington, IL 61705
      View Details
    • Value Estimation by Request
      3.27 Acres

      498 Wylie Dr

      Land • 3.27 Acres
      498 Wylie Dr, Normal, IL 61705
      View Details
    • Value Estimation
      $5,730,000
      211,117 SF

      2225 Market St

      COMMERCIAL (GENERAL) • 211,117 SF
      2225 Market St, Bloomington, IL 61705-5014
      View Details
    • Value Estimation by Request
      0.69 Acres

      10191 1375th E Rd

      COMMERCIAL (GENERAL) • 0.69 Acres
      10191 1375th E Rd, Bloomington, IL 61705
      View Details

    Similar Nearby for Sale

    • $356,102
      3.27 Acres

      Prime Commercial Land, Bloomington, IL

      High-traffic Crossroads Center outlot, divisible.
      498 Wylie Dr, Normal, IL 61705
      View Details
    • Contact for pricing

      Bloomington Commercial Land Lots

      Prime IL land, various sizes, B-1 & M-1 zoning.
      0 Avalon Way, Bloomington, IL 61705
      View Details
    • $167,923

      Bloomington Commercial Land - $167,923

      2.57 Acres, Prime Commercial Location
      1029 Maple Hill Rd, Bloomington, IL 61705
      View Details
    • Contact for pricing
      3.10 Acres

      Bloomington, IL Commercial Land Outlot

      High-traffic commercial land near I-55.
      I55 And Market St, Bloomington, IL 61705
      View Details
    • Contact for pricing
      1.14 Acres

      Bloomington Commercial Land Investment

      Prime Commercial Land, Two Parcels Available
      0 Nec Market St & Wylie Dr, Bloomington, IL 61705
      View Details
    • Contact for pricing

      77 Acres Near Rivian Plant

      77 acres near Rivian plant, suitable for industrial/residential development.
      488 Old Peoria Ct, Bloomington, IL 61705
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      26,400 SF

      Bloomington Shoppes Retail Space

      Prime Retail Space in Bloomington, IL
      2243 Westgate Dr, Bloomington, IL 61705
      View Details
    • Contact for pricing
      26,400 SF

      Bloomington Retail/Office Space Available

      Retail and office spaces for lease near major retailers.
      2243 Westgate Dr, Bloomington, IL 61705
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Nec Market St & Wylie Dr
    Bloomington, IL 61705
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.