Building Details

Year built 1997

Flooring type Concrete, Wood, Finished, Carpet

Roof type Asphalt

Listing Agency: Realty Professionals · RE/MAX International r***@gmail.com Show Phone

Listed By: Jim Regester · License #RB14012351 Show Phone

Added: Feb 17, 2025 Changed: Oct 12 Last Checked: Oct 16 at 7:06PM

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MLS# 202504964

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.

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Investment Insights

Based on property information with market context.

This 8,500-square-foot manufacturing property includes 6,000 square feet of production and shop space alongside approximately 2,500 square feet of office area. The 0.51-acre site has central air, garage parking, and concrete, wood, finished, and carpet flooring. The building dates to 1997 and is zoned for light industrial use.

A tenant currently occupies the property under a lease scheduled to end June 25, 2027, with no renewal options. The property is 1.5 miles from I-69 and 1 mile from downtown Bloomington.

Key Highlights

• 8,500‑square‑foot building on 0.51 acres
• 6,000 SF of production/shop space and approximately 2,500 SF of office space
• Light industrial zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$50,258

Cap Rate

6.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,005,160 $1.0M

Cap Rate 7%

$717,971 $718.0K

Cap Rate 9%

$558,422 $558.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,500 SF

Gross rent

$80.6K $9.48/SF

− Vacancy

−$8.8K −$1.03/SF

EGI

$71.8K $8.45/SF

− OpEx

−$21.5K −$2.53/SF

NOI

$50.3K $5.91/SF

Area

Monroe County, IN

Vacancy

10.90%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,005,160

Cap Rate 7%

$717,971

Cap Rate 9%

$558,422

Alternative Uses

Best Use

Industrial

$718.0K

$628.2K – $837.6K (±1% cap)

NOI $50,258 @ 7.0% cap · market cap 6.93%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.66M

$1.45M – $1.94M (±1% cap)

NOI $116,285 @ 7.0% cap · market cap 16.04%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Manufacturing properties

Suggested Use

Top Pick Bakery Garden Center (Bike/Boat/Book/etc) Store Storage Facility Furniture & Home Goods Carpet & Flooring Store

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

Location Intelligence

Trade Area within ½ mile

980

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

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Manufacturing property - Light industrial zoning supports a combination of production, shop, and office functions.

Where is this manufacturing property located?

The property is located at 125 S Westplex Avenue Bloomington, IN.

What is the asking price?

The asking price for this property is $725,000.

What are key features of this property?

This property features: 8,500‑square‑foot building on 0.51 acres; 6,000 SF of production/shop space and approximately 2,500 SF of office space; Light industrial zoning