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Historical Office Schoolhouse
For Lease
$3,000/Mo

4638 E State Road 45, Bloomington, IN 47408

SINGLE_FAMILY - Bloomington, IN

Space SizeContact for details
Lot Size1.05 Acres
Days on Market188

Property Features for 4638 E State Road 45

General Information

Property type Residential
Property subtype Office
Zoning description Limited Business
Rooms Basement
Lot features City
Directions Property is on your right, right before Prairie Green Court.
Subdivision Monroe County
Standard status Active
APN 53-05-36-200-017.000-004
Lot size 1.05 Acres

Taxes and HOA fees

Tax Year 2025
Tax Description 012-04420-00 PT NE NW 36-9-1W 0.89 A Plat 4
Tax Annual Amount 3376
Legal Description 012-04420-00 PT NE NW 36-9-1W 0.89 A Plat 4

Utilities

Cooling system Central Air

Amenities

fiber internet
kitchenette
storage

Building Details

Year built 1928
Flooring type Wood, Carpet
Roof type Shingle
Listing Agency: Sterling Real Estate
Listed By: Heather Groves · License #RB15001614
Added: Feb 5 Changed: Aug 1 Last Checked: Aug 12 at 12:06AM
MLS# 202603594

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 historical schoolhouse offers more than 4,300 SF of freshly painted, two-level office space with new carpet. The layout includes 10 office spaces plus an open common area, storage, and a larger first-level open area featuring original hardwood floors. Each level has its own restrooms and kitchenette, supporting day-to-day operations across the building’s split configuration.

The property is set on just over 1.05 acres with more than 25 parking spots. Zoned Limited Business (LB), the building is positioned to meet a wide range of business needs and tenant types. Recent exterior updates include over 50 brand new windows that bring in natural light. The building also includes central air and a shingle roof.

Owner is willing to rent the whole property or each level individually. Newly installed fiber internet is available through GigabitNow.

Key Highlights

  • More than 4,300 SF across two levels with 10 office spaces
  • Each level includes restrooms and a kitchenette
  • Original hardwood floors plus over 50 brand new windows

Property Analytics

Current Use

Office buildings

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Hair Salon Pharmacy HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)
Lease Type

Location Intelligence

Trade Area within ½ mile

25
Businesses Nearby

Demographics for 47408, IN

22,917
Population
10,456
Households
2.2
Avg Household Size
28
Median Age
59%
College-Educated
98%
High-School Grad
64.4 sq mi
ZIP Area
356
Density / Sq Mi
$45,584
Median Household Income
$15,819
Median Earnings
$1,177
Median Rent
$304,600
Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019
15.6% 2020
17.1% 2021
18.9% 2022
21% 2023
22% 2024
21.3% 2025
Rey
Questions? Ask Rey
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Frequently Asked Questions

What type of property is this?
Office building - Charming two-level office building with 10 private offices, original hardwood floors, and ample on-site parking on 1.05 acres.
Where is this office building located?
The property is located at 4638 E State Road 45 Bloomington, IN.
What is the lease rate?
The lease rate is $3,000/Mo.
What are key features of this property?
This property features: More than 4,300 SF across two levels with 10 office spaces; Each level includes restrooms and a kitchenette; Original hardwood floors plus over 50 brand new windows
More about this property
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