Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1608 Northbrook Dr Normal, IL 61761-5524
    Back to Search
    Property profile & analytics

    1608 Northbrook Dr Normal, IL 61761-5524

    View on Map
    • Commercial real estate
    • 7,320 SF
    • 0.73 lot acres
    Off-Market
    Last Sale Jan 5, 2024
    $2,475,000
    Property ID
    US28-0038178
    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.
    Value Estimations
    $2,475,000
    Show details
    Cap Rate Potential
    3%
    Commercial real estate
    Location Intelligence

    Current Use by Public Records

    • Bates Commodities / Construction Company / General Contractor
    • Herbalife - The Spot / Cafe & Coffee Shop
    • Cardinal Place Pizza / Restaurant
    • Debbie's - Normal / Restaurant
    • The Cardinal Place / Restaurant

    Property Details for 1608 Northbrook Dr

    Year built
    2008
    Lot size
    0.73 lot acres
    Property size
    7,320 SF
    Zone code
    B-1
    Property type
    Commercial real estate
    APN
    14-21-104-010
    APU
    1421104010

    Description

    This 1,200 square-foot retail space is located at 1608 Northbrook Dr. #106 in Normal, Illinois, 61761, and is part of a larger 7,320 square-foot strip center built in 2008. The property sits on 0.73 acres of land and features five total suites. Currently, 1,200 square feet are available for lease. The space boasts excellent curb appeal, ample parking, and a convenient drive-through. The interior offers a welcoming lobby and a spacious area ideal for customer interaction. This versatile space presents a significant opportunity for businesses seeking a high-traffic location. The property is zoned B-1 and its Assessor's Parcel Number (APN) is 14-21-104-010. The cross street is Raab Rd. This location offers excellent visibility and accessibility for customers. The property's design and features make it suitable for a variety of retail businesses. The ample parking ensures convenient access for customers and employees. The property's location in Normal, Illinois, provides access to a strong local market and consumer base.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,475,000
      ML approach
      $2,475,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Normal
    County
    Mclean
    State
    Illinois
    Longitude
    -88.9985
    Latitude
    40.5315
    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
    $23,900
    $55,684
    $223,561
    $279,245
    -
    $167,052
    $670,684
    $837,736

    Comparable in this City

    • Value Estimation by Request

      Comm Vacant Land

      COMMERCIAL (GENERAL)
      Comm Vacant Land, Normal, IL 61761
      View Details
    • Value Estimation by Request
      0.72 Acres

      Normal, IL 61761

      COMMERCIAL (GENERAL) • 0.72 Acres
      Normal, IL 61761
      View Details
    • Value Estimation by Request
      0.60 Acres

      Normal, IL 61761

      COMMERCIAL (GENERAL) • 0.60 Acres
      Normal, IL 61761
      View Details
    • Value Estimation by Request

      Comm Vacant Land

      COMMERCIAL (GENERAL)
      Comm Vacant Land, Normal, IL 61761
      View Details
    • Value Estimation by Request
      16.79 Acres

      1501 Mercy Crk Dr

      COMMERCIAL (GENERAL) • 16.79 Acres
      1501 Mercy Crk Dr, Normal, IL 61761-9597
      View Details
    • Value Estimation by Request

      606 Dl St

      COMMERCIAL (GENERAL)
      606 Dl St, Normal, IL 61761-2935
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,490 SF

      Sonic Restaurant in Normal, Illinois

      NNN leased Sonic restaurant property for sale in Normal, IL.
      302 Greenbriar Dr, Normal, IL 61761
      View Details
    • $200,000
      1.13 Acres

      Normal, IL Multi-Family Land

      Multi-family land in North Normal location.
      SE Cor Of Linden & Northtown Rd, Normal, IL 61761
      View Details
    • $89,000
      0.13 Acres

      Commercially Zoned Lot with Workshop

      Commercially zoned lot with garage/workshop in Normal, Illinois.
      505 Pine St, Normal, IL 61761
      View Details
    • New
      $75,000
      0.31 Acres

      Prime Land Near ISU Campus

      0.31 acre lot with high visibility near ISU.
      600 N Main St, Normal, IL 61761
      View Details
    • Contact for pricing
      11.49 Acres

      Prime Normal, IL Commercial Land

      11.49 Acres Near Major Employers
      795 Veterans Pkwy, Normal, IL 61761
      View Details
    • $650,000
      3,700 SF

      Move-in Ready Commercial Space

      Adaptable commercial space ideal for various ventures in Normal, IL.
      208 Parkinson St, Normal, IL 61761
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in College Plaza

      Retail space for lease in high-traffic Normal-Bloomington corridor.
      1700 E College Ave, Normal, IL 61761
      View Details
    • Contact for pricing
      22,651 SF

      Commercial Space in Normal, IL

      Commercial space for rent in Normal, Illinois.
      211 Landmark Dr, Normal, IL 61761
      View Details
    • Contact for pricing

      Normal, Illinois Retail Center

      Commercial retail center in Normal, Illinois, with high visibility.
      1715 Bradford Ln, Normal, IL 61761
      View Details
    • Contact for pricing
      4,393 SF

      Retail Building on Veteran's Parkway

      4,393 SF retail building with frontage on Veteran’s Parkway.
      107 N Veterans Pkwy, Normal, IL 61761
      View Details
    • $16 SF/Yr

      Medical/Office Suite For Lease

      Flexible medical/office suite with treatment rooms and efficient layout.
      328 Susan Dr, Normal, IL 61761
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail space available for lease in Normal, Illinois.
      301-309 Veterans Pkwy, Normal, IL 61761
      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.
    1608 Northbrook Dr
    Normal, IL 61761-5524
    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
    1608 Northbrook Dr, Normal, IL, 61761
    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!