Downtown Mixed-Use Corner
322 W 3rd Street Bloomington, IN 47404
322 W 3rd Street, Bloomington, IN, 47404
$1,500,000
For Sale
$1,500,000
COMMERCIAL - Bloomington, IN
Property Size8,808 SF
Lot Size0.20 Acres
Price / SF$170.30
Days on Market253
Property Features for 322 W 3rd Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Rooms
- Basement
- Parking features
- Off Street, Offsite, Garage
- Fencing
- Chain Link
- Standard status
- Active
- APN
- 53-05-33-310-076.000-005
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Description
- 013-15530-00 ORIGINAL PLAT PT LOT 56; 013-15540-00 ORIGINAL PLAT PT LOT 56; and 013-15550-00 ORIGINAL PLAT PT LOT 56
- Tax Annual Amount
- 4448
Utilities
- Cooling system
- Multi Units, Central Air, Wall Unit(s)
Building Details
- Year built
- 1935
- Flooring type
- Tile, Wood, Carpet
- Roof type
- Rubber
Listing agency
RE/MAX Acclaimed Properties
(812) 332-3001
Listed by
Chris Smith · License #RB15000074
(812) 219-3030
Added: Nov 11, 2025 Updated: Jul 6 at 3:57PM Checked: Jul 22 at 4:06PM
MLS# 202545552
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 for-sale mixed-use property consists of two buildings totaling approximately 8,808 square feet on 0.2 acres, zoned MD/DC. The corner building includes a display room, office space, and shop area, providing a straightforward front-to-back setup for retail or service uses.
The second building features a partial basement and a showroom with large windows and hardwood floors, along with additional shop space. There is also an apartment on the second floor with private access. The property is positioned to support downtown activity, with easy access to the Bline trail and nearby downtown amenities, and zoning details are available in the documents section. A virtual tour is also available.
The layout supports multiple operating models, including retail or showroom use combined with office and shop functions, while the separate second-floor apartment can provide flexibility for an owner-operator or a separate living arrangement. Prospective tenants, buyers, and brokers can review the included zoning information to confirm the best fit for their planned use before touring.
The second building features a partial basement and a showroom with large windows and hardwood floors, along with additional shop space. There is also an apartment on the second floor with private access. The property is positioned to support downtown activity, with easy access to the Bline trail and nearby downtown amenities, and zoning details are available in the documents section. A virtual tour is also available.
The layout supports multiple operating models, including retail or showroom use combined with office and shop functions, while the separate second-floor apartment can provide flexibility for an owner-operator or a separate living arrangement. Prospective tenants, buyers, and brokers can review the included zoning information to confirm the best fit for their planned use before touring.
Key Highlights
- Two‑building property totaling approx. 8,808 SF on 0.2 acres in downtown, zoned MD/DC (zoning details in documents).
- Corner building features a display room, office, and shop area.
- Second building includes a partial basement, showroom with large windows and hardwood floors, plus shop space.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $176.5k | $20.04 |
| − Vacancy | −$7.8k | −$0.88 |
| EGI | $168.7k | $19.16 |
| − OpEx | −$50.6k | −$5.75 |
| NOI | $118.1k | $13.41 |
8,808 SF · lease $20.04/SF/yr · vacancy 4.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.69M
$1.48M – $1.97M
NOI $118,122 @ 7.0% cap · market cap 7.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,499 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Showrooms
Similar For Sale Nearby
Similar Off Market Nearby
- Empire Today — 251 w 1st st #10, bloomington, in 47403
- Qaisar Oriental Rugs — 110 W 6th St, Bloomington, IN 47404
FAQs
What type of property is this?
Showroom - Two-building downtown package with showroom, office/shop space, and a second-floor apartment with private access.
Where is this showroom located?
The property is located at 322 W 3rd Street Bloomington, IN.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Two‑building property totaling approx. 8,808 SF on 0.2 acres in downtown, zoned MD/DC (zoning details in documents).; Corner building features a display room, office, and shop area.; Second building includes a partial basement, showroom with large windows and hardwood floors, plus shop space.
