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    Gary West, Bloomington, IN

    License ID: RB14041197
    Years of Experience
    13
    Languages
    English

    Service Locations

    Contact details

    Phone:
    (812) 453-9838
    Office Address:
    3695 S Sare Road, Bloomington, IN 47401

    Property Types

    • Commercial Sale
    • Land

    Performance

    Listings
    25
    Total transactions
    92
    Total transactions amount
    $13M
    Price range
    $94k - 212k
    Average price
    $141k

    Listings

    For Sale (25)

    View map
    • $325,000
      0.41 Acres

      Mixed-Use Commercial Property

      Versatile property with warehouse, office space, and apartments.
      701-705 I St, Bedford, IN 47421
      View Details
    • New
      $121,920
      20.32 Acres

      Springville, IN Residential Land

      20.32 acres near Crane Naval Base, suitable for recreation.
      Side Estates Tract 15 Lk, Springville, IN 47462
      View Details
    • New
      $167,460
      27.91 Acres

      Springville Land for Recreation, Hunting

      27.91 acres near Crane Naval Base with residential potential.
      Side Estates Tract 16 Lk, Springville, IN 47462
      View Details
    • New
      $208,260
      34.71 Acres

      Springville, IN Residential Land

      34.71 acres near Crane Naval Base, ideal for recreation.
      Side Estates Tract 17 Lk, Springville, IN 47462
      View Details
    • New
      $181,140
      30.19 Acres

      Springville Land for Recreation, Hunting

      30.19 acres near Crane Naval Base, ideal for recreation.
      Side Estates Tract 18 Lk, Springville, IN 47462
      View Details
    • New
      $113,080
      10.28 Acres

      Residential Land in Peaceful Countryside

      10.28 acre residential land near Crane Naval Base.
      Side Estates Tract 14 Lk, Springville, IN 47462
      View Details
    • New
      $163,350
      14.85 Acres

      Residential Land in Peaceful Countryside

      Ideal homesite near Crane Naval Base in Eastern Greene County.
      Side Estates Tract 13 Lk, Springville, IN 47462
      View Details
    • New
      $129,900
      8.31 Acres

      Springville Residential Land Opportunity

      Large residential lots with lake views and convenient location.
      Side Estates Tract 12 Lk, Springville, IN 47462
      View Details
    • New
      $130,410
      18.63 Acres

      Residential Land in Peaceful Countryside

      Ideal homesite near Crane Naval Base with country charm.
      Side Estates Tract 20 Lk, Springville, IN 47462
      View Details
    • New
      $99,360
      12.42 Acres

      Residential Land in Peaceful Countryside

      Ideal homesite near Crane Naval Base in Eastern Greene County.
      Side Estates Tract 19 Lk, Springville, IN 47462
      View Details
    • New
      $195,900
      15.83 Acres

      Springville Residential Land Opportunity

      15.83 acres in a peaceful countryside setting near Crane.
      Side Estates Tract 21 Lk, Springville, IN 47462
      View Details
    • New
      $127,080
      14.12 Acres

      Residential Land in Peaceful Countryside

      Ideal homesite near Crane Naval Base in Eastern Greene County.
      Side Estates Tract 22 Lk, Springville, IN 47462
      View Details
    • New
      $99,180
      11.02 Acres

      Residential Land in Peaceful Countryside

      Ideal homesite near Crane Naval Base with country charm.
      Side Estates Tract 24 Lk, Springville, IN 47462
      View Details
    • New
      $101,400
      13.52 Acres

      Residential Land in Peaceful Countryside

      Ideal homesite near Crane Naval Base with country charm.
      Side Estates Tract 23 Lk, Springville, IN 47462
      View Details
    • New
      $109,900
      6.42 Acres

      Residential Land in Rural Subdivision

      4–10 acre tracts for building near Crane Naval Base.
      Side Estates Tract 5 Lk, Springville, IN 47462
      View Details
    • New
      $97,900
      4.87 Acres

      Springville Residential Land Opportunity

      4-10 acre residential lots in Eastern Greene County.
      Side Estates Tract 4 Lk, Springville, IN 47462
      View Details
    • New
      $124,900
      6.55 Acres

      Residential Land in Springville, Indiana

      4–10 acre tracts for building in a rural subdivision.
      Side Estates Tract 3 Lk, Springville, IN 47462
      View Details
    • New
      $134,900
      9.72 Acres

      Springville Residential Land Opportunity

      Large lots with lake views, convenient to Crane Naval Base.
      Side Estates Tract 11 Lk, Springville, IN 47462
      View Details
    • New
      $134,900
      10.20 Acres

      Springville IN Residential Land

      Residential land for sale in a peaceful rural subdivision.
      Side Estates Tract 10 Lk, Springville, IN 47462
      View Details
    • New
      $119,900
      8.89 Acres

      Springville Residential Land with Lake Views

      Large lots with lake views, convenient to Crane Naval Base.
      Side Estates Tract 9 Lk, Springville, IN 47462
      View Details
    • New
      $109,900
      5.95 Acres

      Springville Residential Land with Lake Views

      Land for sale with lake views, convenient location.
      Side Estates Tract 8 Lk, Springville, IN 47462
      View Details
    • New
      $79,900
      4.48 Acres

      Residential Land in Rural Subdivision

      4-10 acre residential lots with lake views and convenient location.
      Side Estates Tract 7 Lk, Springville, IN 47462
      View Details
    • New
      $79,900
      4.04 Acres

      Springville, IN Residential Land

      4+ acre residential lots with lake views near Crane Naval Base.
      Side Estates Tract 6 Lk, Springville, IN 47462
      View Details
    • New
      $109,900
      5.75 Acres

      Springville Residential Land with Lake Views

      Residential land for sale with lake views and convenient location.
      Side Estates Tract 2 Lk E, Springville, IN 47462
      View Details
    • $560,000
      67.76 Acres

      Versatile Agricultural Land with Timber

      67.76 acres with tillable land, woods, and creeks.
      E State Road 58, Bedford, IN 47421
      View Details

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    Gary West, Bloomington, IN
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    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.

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    Gary West, Bloomington, IN
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