Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    113 Center St Bloomington, IL 61701
    Back to Search
    Property profile & analytics

    113 Center St Bloomington, IL 61701

    View on Map
    • Restaurants
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Under Wraps / Restaurant
    • A La Tavalo / Restaurant

    Property Details for 113 Center St

    Property type
    Restaurants

    Description

    This turnkey restaurant in downtown Bloomington, Illinois offers a fantastic opportunity for a new owner. Located at 113 N Center St, this 1,450 square foot single-tenant space boasts a consistent monthly revenue exceeding $11,000. The sale includes approximately $15,000 worth of kitchen equipment, ensuring a seamless transition. A significant advantage is the inclusion of a profitable ghost kitchen operation, adding to the overall revenue stream. The restaurant benefits from a strong social media presence, with over 1,000 followers on Facebook and Instagram, contributing to its established clientele. An existing monthly catering operation further enhances the profitability and provides additional revenue opportunities. This is a fully operational business, ready for immediate takeover, situated in a prime downtown location within McLean County (zip code 61701). The asking price is $60,000 (confidential). This represents a unique chance to acquire a well-established and profitable restaurant business with all the necessary infrastructure and a loyal customer base already in place. The business is ready for immediate operation, minimizing the time and effort required for setup and launch.

    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
    -88.9943
    Latitude
    40.4792

    Comparable in this City

    • Value Estimation by Request
      6,262 SF

      1709 Pkwy

      Restaurants • 6,262 SF
      1709 Pkwy, Bloomington, IL 61701
      View Details
    • Value Estimation by Request
      9,155 SF

      305 Main St

      Retail properties & Spaces • 9,155 SF
      305 Main St, Bloomington, IL 61701
      View Details
    • Value Estimation by Request
      255,060 SF

      Empire St

      Retail properties & Spaces • 255,060 SF
      0 Empire St, Bloomington, IL 61701
      View Details
    • Value Estimation by Request

      Maple Hill Rd

      Land
      0 Maple Hill Rd, Bloomington, IL 61701
      View Details
    • Value Estimation by Request
      11.49 Acres

      795 Veterans Pkwy

      Land • 11.49 Acres
      795 Veterans Pkwy, Bloomington, IL 61701
      View Details
    • Value Estimation by Request
      0.14 Acres

      205 Brown St

      VACANT COMMERCIAL LAND • 0.14 Acres
      205 Brown St, Bloomington, IL 61701-3716
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,484 SF

      Restaurant Building on 1.1 Acres

      5,484 SF restaurant on 1.1 acres for sale.
      903 Iaa Dr, Bloomington, IL 61701
      View Details
    • Contact for pricing

      Downtown Bloomington Sports Bar

      Established sports bar with full kitchen and gaming area.
      102 W Washington St, Bloomington, IL 61701
      View Details
    • Contact for pricing
      2,265 SF

      Bloomington Commercial Property For Sale

      Commercial property in Bloomington, IL, suitable for coffee shop.
      1601 W Market St, Bloomington, IL 61701
      View Details
    • $495,000

      Four-Unit Building on Empire Street

      Four-unit building with diverse tenants and redevelopment potential.
      1316 East Empire St, Bloomington, IL 61701
      View Details
    • $950,000
      6,813 SF

      Downtown Bloomington Building with Parking

      Commercial building with 50 parking spaces in downtown Bloomington.
      615 N Main St, Bloomington, IL 61701
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Bloomington Retail/Restaurant Opportunity

      Adaptable space in a prime downtown location.
      113 N Center St, Bloomington, IL 61701
      View Details
    • $8 SF/Yr
      10,069 SF

      Retail Space in High-Traffic Location

      Spacious retail space with high ceilings in a busy area.
      2507 E Oakland Ave, Bloomington, IL 61701
      View Details
    • Contact for pricing
      3,612 SF

      Retail Space on Veteran's Parkway

      Retail space with visibility on Veteran’s Parkway in Bloomington, IL.
      506 Iaa Dr, Bloomington, IL 61701
      View Details
    • Contact for pricing

      Retail/Office Space in Bloomington, IL

      Retail or office space with high visibility and ample parking.
      2210 N Cottage Ave, Bloomington, IL 61701
      View Details
    • Contact for pricing

      Bloomington Retail Space For Rent

      Retail space in a vibrant Bloomington community, near downtown.
      604 E Locust St, Bloomington, IL 61701
      View Details
    • Contact for pricing

      Retail Space in Anchored Center

      Retail space available in shopping center with major anchor tenants.
      Bloomington, IL 61701
      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.
    113 Center St
    Bloomington, IL 61701
    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

    Thank You for Inquiry
    113 Center St, Bloomington, IL, 61701
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!