RV Service Shop with
New
For Sale
Contact for pricing
1126 N Air Dr, Bloomington, IN 47404
Three-bay layout accommodates large vehicles, with office, storage, and customer-facing areas.
Property Size5,000 SF
Lot Size1.00 Acre
Price / SF$220
Days on Market3
Property Features for 1126 N Air Dr
General Information
Standard status
Active
Size
5,000 SF
Lot size
1.00 Acre
Property subtype
INDUSTRIAL
Additional Details
Business Included
Yes
Road Access
Yes
Drive-In Doors
3
Service Bays
3
Amenities
reception/office area
showroom
mezzanine storage
Building Details
Buildings
1
Building Size
5,000 SF
Listing Agency:
F.C. Tucker/Bloomington, REALTORS
(812) 336-7300
Listed By:
Chris Cockerham · License #RB14027897
(812) 340-3083
Source:
Moodyscre
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 8:34PM
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 F.C. Tucker/Bloomington, REALTORS
Investment Insights
Based on property information with market context.
The property is a ±5,000 SF industrial and service building on approximately ±1 acre at 1126 N. Air Dr. in Bloomington, Indiana. Its configuration combines vehicle service space with a reception and office area, showroom, mezzanine storage, and additional space suitable for office use. The building is currently occupied by Alexander RV and is arranged for RV service and repair, automotive-related operations, contractor work, and other light industrial uses.
Three service bays provide vehicle access through two 12-foot overhead doors and one 14-foot overhead door. The surrounding land supports parking and vehicle maneuverability. The sale includes the Alexander RV business along with the real estate, offering a combined operating business and property acquisition.
Three service bays provide vehicle access through two 12-foot overhead doors and one 14-foot overhead door. The surrounding land supports parking and vehicle maneuverability. The sale includes the Alexander RV business along with the real estate, offering a combined operating business and property acquisition.
Key Highlights
- ±5,000 SF industrial/service building on approximately ±1 acre
- Three service bays with two 12‑foot and one 14‑foot overhead door
- Reception/office area, showroom, mezzanine storage, and additional office space
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
$67,054
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
6.10%
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%
$1,341,080
$1.3M
Cap Rate 7%
$957,914
$957.9K
Cap Rate 9%
$745,044
$745.0K
Market Conditions
NOI Build-Up for 5,000 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
$100.2K $20.04/SF
− Vacancy
−$4.4K −$0.88/SF
EGI
$95.8K $19.16/SF
− OpEx
−$28.7K −$5.75/SF
NOI
$67.1K $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%
$1,341,080
Cap Rate 7%
$957,914
Cap Rate 9%
$745,044
Alternative Uses
Best Use
Retail
$957.9K
$838.2K – $1.12M
NOI $67,054 @ 7.0% cap · market cap 6.10%
Second Best
Flex RnD
$640.7K
$560.6K – $747.5K
NOI $44,850 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$977.2K
$855.0K – $1.14M
NOI $68,403 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
3
Service bays
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Three-bay layout accommodates large vehicles, with office, storage, and customer-facing areas.
Where is this auto shop located?
The property is located at 1126 N Air Dr Bloomington, IN.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: ±5,000 SF industrial/service building on approximately ±1 acre; Three service bays with two 12‑foot and one 14‑foot overhead door; Reception/office area, showroom, mezzanine storage, and additional office space
