Retail Properties in Bloomington, Illinois, offer a unique investment opportunity for those looking to capitalize on the city's growing economy. With a population of around 170,000 in the Bloomington-Normal metropolitan area, there is a steady demand for retail spaces that cater to the needs of residents and visitors alike. Retail Properties in Bloomington can represent a range of investments, from small storefronts to larger shopping centers, each with its own set of benefits and challenges. The city's diverse economy, driven by major industries such as insurance, financial services, and food manufacturing, provides a stable foundation for retail businesses to thrive. Bloomington's amenities, including the Miller Park Zoo, the Bloomington Ice Center, and the Prairie Vista Golf Course, make it an attractive location for both residents and tourists. The city's infrastructure, including Interstate 55, Interstate 74, and U.S. Route 51, provides easy access to major transportation hubs, making it an ideal location for businesses that rely on logistics and distribution. With Illinois Wesleyan University and major companies like State Farm and Country Financial headquartered in the city, Bloomington offers a unique blend of education, culture, and economic opportunity. The city's rich history, dating back to the early 1820s, and its diverse population make it an attractive location for businesses looking to establish a strong presence in the region.
Currently, there are 9 Retail Properties available for sale in Bloomington, offering a range of options for investors. The average price per square foot for Retail Properties in Bloomington is $136 USD, with an average size of 77,332 square feet. The largest Retail Property available for sale in Bloomington is 628,963 square feet. In addition to Retail Properties, Bloomington also offers a range of other commercial properties, including Shopping Centers, Restaurants, Office Properties, and Hotels. Shopping Centers in Bloomington offer a range of retail spaces, from small storefronts to larger anchor stores, and are often located in high-traffic areas. Restaurants in Bloomington cater to a diverse range of tastes and cuisines, from fine dining to casual eateries. Office Properties in Bloomington offer a range of spaces, from small suites to larger office buildings, and are often located in the city's downtown area. Hotels in Bloomington provide a range of accommodations for visitors, from budget-friendly options to luxury hotels. Overall, Bloomington's commercial real estate market offers a range of options for investors, from Retail Properties to other commercial properties, each with its own unique benefits and challenges.
What is the average cap rate for retail properties in Bloomington?
When it comes to retail properties in Bloomington, investors can expect an average cap rate of 8.49%, which is a key metric to consider when evaluating potential investments. To learn more about how cap rates work and what they mean for your investment strategy, check out our article on what is a cap rate, and explore the 9 available retail property listings in Bloomington to find the right opportunity for your portfolio.
How do location and foot traffic affect retail property values?
In Bloomington, Illinois, the location and foot traffic of retail properties significantly impact their values, with properties situated in high-traffic areas such as Downtown Bloomington, near Illinois Wesleyan University, or close to major employers like State Farm and Country Financial, commanding higher prices due to their proximity to customers and potential for increased sales.
For instance, with 9 available listings of retail properties, the average price per square foot is $136 USD, and the average size is 77,332 square feet, indicating that properties in prime locations with high foot traffic are more valuable, while those in less desirable areas may be priced lower, making it essential for investors to carefully consider these factors when evaluating retail property investments in Bloomington.
