2402 E Empire St - Distribution FOR SALE


Bloomington, IL 61704
$14,000,000 USD
217-722-3584
2402 E Empire St, Bloomington, IL for Sale
$14,000,000 USD
Distribution - FOR SALE
1/21
null | 6.93% Cap Rate

2402 E Empire St
Bloomington, IL 61704


HIGHLIGHTS

  • Long standing tenants
  • Fully leased, multi-tenant industrial asset
  • Location suited for seamless logistics
  • Former IRS building

OVERVIEW

Presenting a prime investment opportunity at 2402 E. Empire Street in Bloomington, Illinois, this approx. 225,000-square-foot multi-tenant industrial distribution facility is situated on a spacious 13.30 acre site. Originally constructed in 1985 and substantially renovated in 2009, the masonry and precast concrete building offers a highly functional layout featuring 18.5’ to 26’ clear heights 16 dock-high doors, 2 drive-in doors, and approximately 15% office finish. The parking ratio is approximately 2 spaces per 1,000 sq ft. There is ample surface parking of approximately 450 spaces. The property boasts excellent visibility and logistics potential, with proximity to I-55, I-74, I-39, and the Central Illinois Regional Airport. As an investment, the asset is 100% occupied by three professional tenants operating primarily under net leases. With recent capital improvements including a TPO roof overlay in 2018 and 2020, this fully leased facility offers stable, in-place cash flow with contractual annual rent escalations, making it a highly attractive, institutional-quality industrial asset.

FOR SALE DETAILS

PRICE

$14,000,000 USD

PRICE/SF

$62 USD /SF

CAP RATE

6.93%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Distribution

ADD'L SUBTYPES

Manufacturing, Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1985

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

16

DRIVE INS

2

PARKING SPACES

450

LAND DETAILS

LAND ACRES

13.3

LAND SF

579,348

ZONING

B-1

APN/PARCEL ID

14-36-376-031

ASK ABOUT THIS PROPERTY

Jill SprattSVN | Core 3More Info
217-722-3584

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Jill SprattSVN | Core 3More Info
217-722-3584

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.