Improved Mixed-Use
New
For Sale
$635,000
1108 W 8th St, Bloomington, IN 47404
Flexible commercial layout with offices, kitchen, storage, multiple restrooms, open area, and dedicated parking.
Property Size4,000 SF
Price / SF$158.75
Days on Market2
Property Features for 1108 W 8th St
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
12
Zoning
Mixed Use
Building Details
Year Built
1981
Listing Agency:
Sterling Real Estate
Listed By:
Heather Groves · License #RB15001614
(812) 606-4239
Source:
Kmsrealestategroup
Added: Sep 19
Last Checked: Sep 19 at 2:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sterling Real Estate
Investment Insights
Based on property information with market context.
This approximately 4,000-square-foot mixed-use building was constructed in 1981 and is zoned Mixed Use. The interior includes two offices, a storage room, kitchen, two restrooms, and a large open area, providing a practical combination of private and shared-use space. Dedicated parking is provided on site with 12 spaces.
Improvements completed over the past 6 years include a rebuilt parking lot, exterior wall repairs, fresh interior and exterior paint, updated kitchen cabinetry and countertops, new flooring, electrical upgrades with LED lighting and additional outlets, two new HVAC systems, replacement windows, and a new roof with gutters. The property is located at 1108 W 8th St in Bloomington’s Near West Side neighborhood.
Improvements completed over the past 6 years include a rebuilt parking lot, exterior wall repairs, fresh interior and exterior paint, updated kitchen cabinetry and countertops, new flooring, electrical upgrades with LED lighting and additional outlets, two new HVAC systems, replacement windows, and a new roof with gutters. The property is located at 1108 W 8th St in Bloomington’s Near West Side neighborhood.
Key Highlights
- Approximately 4,000 square feet on a Mixed Use‑zoned property
- 12 dedicated parking spaces
- Two offices, storage room, kitchen, open area, and two restrooms
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
$34,320
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
5.40%
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%
$686,400
$686.4K
Cap Rate 7%
$490,286
$490.3K
Cap Rate 9%
$381,333
$381.3K
Market Conditions
NOI Build-Up for 4,000 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
$62.4K $15.60/SF
− Vacancy
−$7.5K −$1.87/SF
EGI
$54.9K $13.73/SF
− OpEx
−$20.6K −$5.15/SF
NOI
$34.3K $8.58/SF
Area
Monroe County, IN
Vacancy
12.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$686,400
Cap Rate 7%
$490,286
Cap Rate 9%
$381,333
Alternative Uses
Best Use
Mixed Use
$490.3K
$429.0K – $572.0K
NOI $34,320 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$781.7K
$684.0K – $912.0K
NOI $54,722 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,973
Businesses Nearby
Explore this area
Business Placement
Demographics for 47404, IN
23,799
Population
12,101
Households
2
Avg Household Size
33
Median Age
43%
College-Educated
95%
High-School Grad
52.6 sq mi
ZIP Area
452
Density / Sq Mi
$54,674
Median Household Income
$36,725
Median Earnings
$1,159
Median Rent
$243,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial layout with offices, kitchen, storage, multiple restrooms, open area, and dedicated parking.
Where is this mixed-use property located?
The property is located at 1108 W 8th St Bloomington, IN.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Approximately 4,000 square feet on a Mixed Use‑zoned property; 12 dedicated parking spaces; Two offices, storage room, kitchen, open area, and two restrooms
