Mixed-Use Property With
For Sale
$549,900
2312 S Rogers Street, Bloomington, IN 47403
INVESTMENT, Two Story, Bloomington, IN
Property Size2,790 SF
Lot Size0.18 Acres
Price / SF$197.10
Days on Market30
Property Features for 2312 S Rogers Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bathroom 4, Bedroom 2, Bedroom 1
Parking
13
Parking features
Off Street
Lot features
City/ Town/ Suburb, 0-2.9999
Elementary school
Summit
Middle school
Batchelor
High school
Bloomington South
Elementary school district
Monroe County Community School C
Middle school district
Monroe County Community School C
High school district
Monroe County Community School C
Directions
Use GPS for driving directions
Subdivision
Monroe County
Standard status
Active
APN
53-08-08-403-159.000-009
Size
2,790 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
015-24305-00 BROADVIEW PARK 1ST LOT 3 ANNEXED 3/1/00 FROM 014-24300-00
Tax Annual Amount
2557
Legal Description
015-24305-00 BROADVIEW PARK 1ST LOT 3 ANNEXED 3/1/00 FROM 014-24300-00
Utilities
Cooling system
Central Air
Building Details
Year built
1975
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX Acclaimed Properties · RE/MAX International
(812) 332-3001
Listed By:
AJ Bowlen · License #RB16000753
(812) 345-3712
Added: Jul 30
Changed: Aug 26
Last Checked: Aug 28 at 9:06AM
MLS# 202630776
Copyright © 2026 Indiana Uplands Realtor® Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property combines a street-level salon with two upper-level one-bedroom apartments. The salon includes recently installed work stations and is accompanied by established salon and apartment occupants. The building contains 2,790 square feet on a 0.18-acre parcel, with carpet and vinyl flooring, central air, a shingle roof, and off-street parking.
Built in 1975, the property is located at 2312 S Rogers Street in Bloomington, Indiana. The site is near the B-Line Trail, Novo Nordisk's main campus, and Bloomington Country Club, with access to the surrounding city via South Rogers Street. Its combination of commercial and residential components provides multiple occupancy types within one building.
Built in 1975, the property is located at 2312 S Rogers Street in Bloomington, Indiana. The site is near the B-Line Trail, Novo Nordisk's main campus, and Bloomington Country Club, with access to the surrounding city via South Rogers Street. Its combination of commercial and residential components provides multiple occupancy types within one building.
Key Highlights
- Mixed‑use building with an operating salon and two upper‑level one‑bedroom apartments
- 2,790 square feet on a 0.18‑acre parcel
- Recently installed salon work stations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,416
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$748,320
$748.3K
Cap Rate 7%
$534,514
$534.5K
Cap Rate 9%
$415,733
$415.7K
Market Conditions
NOI Build-Up for 2,790 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$55.9K $20.04/SF
− Vacancy
−$2.5K −$0.88/SF
EGI
$53.5K $19.16/SF
− OpEx
−$16.0K −$5.75/SF
NOI
$37.4K $13.41/SF
Area
Monroe County, IN
Vacancy
4.40%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$748,320
Cap Rate 7%
$534,514
Cap Rate 9%
$415,733
Alternative Uses
Best Use
Retail
$534.5K
$467.7K – $623.6K
NOI $37,416 @ 7.0% cap · market cap 6.80%
Second Best
Multifamily LT 5
$358.2K
$313.4K – $417.9K
NOI $25,074 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$545.3K
$477.1K – $636.2K
NOI $38,169 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
Explore this area
Business Placement
Demographics for 47403, IN
33,066
Population
16,271
Households
2
Avg Household Size
35
Median Age
39%
College-Educated
93%
High-School Grad
85.0 sq mi
ZIP Area
389
Density / Sq Mi
$68,703
Median Household Income
$40,391
Median Earnings
$1,114
Median Rent
$222,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two upper-level apartments complement an operating salon, with off-street parking and central air serving the property.
Where is this mixed-use property located?
The property is located at 2312 S Rogers Street Bloomington, IN.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Mixed‑use building with an operating salon and two upper‑level one‑bedroom apartments; 2,790 square feet on a 0.18‑acre parcel; Recently installed salon work stations
