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Property profile & analytics
OFF-MARKET
Commercial real estate
1604 Visa Dr 1, Normal, IL 61761-2195
Entity Owned
1-yr Hold
Free & Clear
Property ID
US28-2348532
Property summary
AI-generated overview
This exceptional 1,236 square foot office condo, located at 1604 Visa Drive, Suite 2, Normal, IL 61761, presents a fantastic opportunity for owner-occupants. The property, built in 1980, is classified as a Class B building and sits on a single story. The flexible space is ideal for a variety of uses, including traditional, medical, or creative office settings. The suite boasts the potential for up to six private offices, a convenient waiting area, and a kitchenette. A private en-suite restroom adds to the convenience. The asking price is $125,000, translating to $101.13 per square foot. This represents a compelling value in the desirable Normal market. The property is zoned B1. The unit is sold as-is. The low-maintenance aspect is a significant advantage
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1980
Total area
1,762 SF
Lot
0.44 ac (19,375 SF)
Zoning code
B-1
APN
14-26-181-001
UPID
US28-2348532
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dr. Jay Sweis Dental Office
-
Everyone`s Family Dental Dental Office
-
Your Extra Hands Surgical Services Medical Clinic Hospital
-
Definitive Neurodiagnostics Medical Laboratory
-
Nichole Pauley Medical Clinic Hospital
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Granteeloomis Development LLC · 1 yrs held
Granteeloomis Development LLC
since 2024
Last sale
$150,000
2 recorded transactions
Zoning & alternative use
B-1 · Normal, IL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Normal submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Normal submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$4,744
Tax year 2023
Assessed value
$55,432
Assessed 2023
Previous assessed
$55,432
+0.0% YoY
Effective rate
8.56%
On assessed value
Assessed land
$14,348
Assessed improvement
$41,084
Land market value
$43,044
Improvement market value
$123,252
Total market value
$166,296
Applied tax rate
3,001.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1980
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
1,762 SF
Lot
0.44 ac (19,375 SF)
Zoning code
B-1
APN
14-26-181-001
UPID
US28-2348532
Jurisdiction
MCLEAN
Zoning & alternative use
B-1 · Normal, IL
Zoning B-1 · permitted uses
B-1 · Normal, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Normal. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1980
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.44 ac
Current owner
From public records · entity-resolved
Granteeloomis Development LLC
Entity
Free & Clear · 1 yrs held
Mailing address
1604 VISA DR #1, NORMAL, IL 61761-2195
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 15, 2024
$150,000
Granteeloomis Development LLC
John G Atwater
Warranty Deed
—
Aug 28, 2008
$135,000
John G Atwater
Steven K Schimelpfenig
Warranty Deed
$108,000 · National City Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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