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    516 Main St Bloomington, IL 61701

    • Commercial real estate
    • 5,454 SF
    • 0.05 lot acres
    For Sale
    View listing
    $325,000
    Value Estimation
    Location Intelligence
    Property ID
    US28-1084395
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 516 Main St

    Construction
    FRAME
    Lot size
    0.05 lot acres
    Property size
    5,454 SF
    Property type
    Commercial real estate
    APN
    21-04-182-011
    APU
    2104182011

    Description

    This unique investment opportunity presents a mixed-use property located at 516 N Main Street in Bloomington, Illinois. The main level currently operates as a grocery store, offering immediate income potential. The building's size is not specified, however, the property includes four separate rental units situated on the upper floor. These units provide additional revenue streams and a diversified income portfolio. The property sits on a lot with no acreage specified. The asking price for this strategically located commercial property is $325,000. This presents a compelling opportunity for investors seeking a blend of established commercial income and rental income potential. The grocery store's existing operations provide a stable foundation, while the residential units offer flexibility and growth potential. The property's location on Main Street in Bloomington offers high visibility and accessibility, making it an attractive proposition for both business and residential tenants. This is an excellent chance to acquire a well-positioned mixed-use building with immediate cash flow and long-term growth prospects. Further due diligence is recommended to fully assess the potential of this investment. The property is being sold as-is.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $260,000

    • CAP approach

      CAP return
      Estimation
      6%
      $200,000
      6.5%
      $190,000
      7%
      $175,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $165,000
      Geo Method
      $185,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $150,000
      Retail
      $195,000
      Mixed-Use
      $190,000
      Hospitality
      $195,000
      Educational
      $195,000
      Residential Income
      $195,000
      Energy
      $155,000
      Income-Based Land
      $180,000
      Food Service
      $150,000

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    Mclean
    State
    Illinois
    Longitude
    -88.9941
    Latitude
    40.4829
    CBSA code
    14010
    CBSA name
    BLOOMINGTON, IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,848
    $6,623
    $39,416
    $46,039
    -
    $19,869
    $118,248
    $138,117

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    516 Main St
    Bloomington, IL 61701
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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
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