Multi-Revenue Entertainment
4747 W State Road 46 Bloomington, IN 47404
4747 W State Road 46, Bloomington, IN, 47404
$1,500,000
For Sale
$1,500,000
COMMERCIAL - Bloomington, IN
Property Size8,400 SF
Lot Size2.81 Acres
Price / SF$178.57
Days on Market142
Property Features for 4747 W State Road 46
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Rooms
- Basement
- Standard status
- Active
- APN
- 53-04-14-100-053.000-013
- Lot size
- 2.81 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- 009-16350-00 PT SW NE 14-9-2W 2.815A PLAT 182 PUTTERS PARK
- Tax Annual Amount
- 17558
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1994
- Flooring type
- Tile, Concrete
- Roof type
- Shingle
Listing agency
FC Tucker/Bloomington REALTORS
(812) 336-7300
Listed by
Chris Cockerham · License #RB14027897
(812) 340-3083
Added: Mar 2 Updated: Jul 6 at 4:11PM Checked: Jul 22 at 9:06PM
MLS# 202606471
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.
Hoosier Putt Hole is a fully renovated, multi-revenue entertainment property combining mini golf, restaurant/bar operations, and live entertainment space with short-term rental income potential. The site includes an 8,400 SF three-level main building and a dedicated mini golf support building commonly referred to as the “Putt Hut.” On-site amenities include private all-concrete parking, an outdoor live music stage with electrical, and an outdoor bar. Recent improvements include a newly installed income-producing digital sign and a newly installed digital billboard, along with an updated three-way liquor license. The property also features a newly updated efficiency apartment with new furnishings that the remarks describe as Airbnb-ready.
The property is located on 2.82 acres along the State Road 46 corridor in Bloomington, Indiana, with visibility emphasized in the offering.
Additional noted site improvements include a large 2025 Putt Hut addition, with the remarks describing potential for a small take-out restaurant. A digital income sign/billboard installed in 2025 is included with the property.
The property is located on 2.82 acres along the State Road 46 corridor in Bloomington, Indiana, with visibility emphasized in the offering.
Additional noted site improvements include a large 2025 Putt Hut addition, with the remarks describing potential for a small take-out restaurant. A digital income sign/billboard installed in 2025 is included with the property.
Key Highlights
- 2.82‑acre entertainment property on the State Road 46 corridor in Bloomington, IN
- 8,400 SF three‑level main building plus a dedicated mini golf support building (“Putt Hut”)
- 2025 Putt Hut addition with potential for a small take‑out restaurant
Local Financial Insights For Specialty 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 | $151.2k | $18.00 |
| − Vacancy | −$6.4k | −$0.76 |
| EGI | $144.8k | $17.24 |
| − OpEx | −$36.2k | −$4.31 |
| NOI | $108.6k | $12.93 |
8,400 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,637 @ 7.0% cap · market cap 7.24%
Second Best
Apartment 5plus
$979.4K
$857.0K – $1.14M
NOI $68,559 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$1.64M
$1.44M – $1.92M
NOI $114,917 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Golf courses & driving ...
Similar For Sale Nearby
FAQs
What type of property is this?
Golf course & driving range - Fully renovated entertainment property with mini golf, restaurant/bar operations, live entertainment space, and short-term rental income potential.
Where is this golf course & driving range located?
The property is located at 4747 W State Road 46 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: 2.82‑acre entertainment property on the State Road 46 corridor in Bloomington, IN; 8,400 SF three‑level main building plus a dedicated mini golf support building (“Putt Hut”); 2025 Putt Hut addition with potential for a small take‑out restaurant
