Warehouse with Van-Height
2397 S Walnut Street Bloomington Bloomington, IN 47401
2397 S Walnut Street Bloomington, Bloomington, IN, 47401
$1,395,000
For Sale
$1,395,000
Warehouse featuring two van-height doors, one drive-in, and expansion land, offered for sale or lease.
Property Size15,000 SF
Price / SF$93
Days on Market9
Property Features for 2397 S Walnut Street Bloomington
General Information
- Standard status
- Active
- Size
- 15,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1985
Listing agency
Colliers International
(812) 361-1230
Listed by
Katie Wray · License #RB14036381
Source
Kramerrealestategroup
Added: Jul 13 Updated: Jul 20 at 5:32PM Checked: Jul 21 at 3:34AM
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 Colliers International
Investment Insights
Based on property information with market context.
This warehouse is offered for sale or lease and includes two van-height doors and one drive-in door. The offering also includes additional land that supports future expansion. The property is described as zoned for a wide variety of uses under Mixed-Use Corridor (MC) zoning.
The site is located on the south side off Walnut Street, just south of Bloomington South High School.
The property is listed with sale pricing of $1,395,000 and lease terms noted as $9.00 PSF NNN.
The site is located on the south side off Walnut Street, just south of Bloomington South High School.
The property is listed with sale pricing of $1,395,000 and lease terms noted as $9.00 PSF NNN.
Key Highlights
- 1.93‑acre warehouse on steel‑frame construction (built 1985) with metal exterior
- Warehouse includes two van‑height doors and one drive‑in door
- Offered for sale or lease at $1,395,000 for sale or $9.00 PSF NNN
Local Financial Insights For Warehouse
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 | $142.2k | $9.48 |
| − Vacancy | −$15.5k | −$1.03 |
| EGI | $126.7k | $8.45 |
| − OpEx | −$19.0k | −$1.27 |
| NOI | $107.7k | $7.18 |
15,000 SF · lease $9.48/SF/yr · vacancy 10.90% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.54M
$1.35M – $1.79M
NOI $107,695 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.93M
$2.57M – $3.42M
NOI $205,209 @ 7.0% cap · market cap 14.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Warehouses
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Similar Off Market Nearby
- All American Storage - North — 2503 N Walnut St, Bloomington, IN 47404
- Storage Express — 606 W Gourley Pike, Bloomington, IN 47404
FAQs
What type of property is this?
Warehouse - Warehouse featuring two van-height doors, one drive-in, and expansion land, offered for sale or lease.
Where is this warehouse located?
The property is located at 2397 S Walnut Street Bloomington Bloomington, IN.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 1.93‑acre warehouse on steel‑frame construction (built 1985) with metal exterior; Warehouse includes two van‑height doors and one drive‑in door; Offered for sale or lease at $1,395,000 for sale or $9.00 PSF NNN
