Three-Story Brick Office
For Sale
$2,950,000
1720 N Kinser Pike, Bloomington, IN 47404
Well-maintained three-story brick office building with elevator access, private parking, and flexible layouts with private and collaborative spaces.
Property Size14,560 SF
Price / SF$202.61
Days on Market76
Property Features for 1720 N Kinser Pike
General Information
Standard status
Active
Size
14,560 SF
Occupancy
80%
Additional Details
Road Access
Yes
Amenities
handicap accessibility
elevator service
flexible office layout
private parking lot
ample attic storage
Building Details
Year Built
1995
Stories
3
Construction
brick
Listing Agency:
FC Tucker/Bloomington REALTORS
Listed By:
Chris Cockerham · License #RB14027897
(812) 340-3083
Source:
Barberryrealty
Added: Jul 24
Changed: Sep 12
Last Checked: Oct 5 at 8:58PM
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 FC Tucker/Bloomington REALTORS
Investment Insights
Based on property information with market context.
Well-maintained three-story brick office building with approximately 21,840 SF across the first floor, second floor, and a full basement. The layout is designed to support both private offices and larger collaborative spaces, with handicap accessibility throughout. Elevator service runs from the basement to the attic, and there is ample attic storage to support building operations.
The property is positioned along North Kinser Pike with strong visibility and convenient access. It also includes a private parking lot for on-site use.
The building is currently 80% occupied, creating immediate income potential while leaving room for additional leasing. It is presented as an option for professional office users, for medical office conversion, or for investors seeking to own and manage office space.
The property is positioned along North Kinser Pike with strong visibility and convenient access. It also includes a private parking lot for on-site use.
The building is currently 80% occupied, creating immediate income potential while leaving room for additional leasing. It is presented as an option for professional office users, for medical office conversion, or for investors seeking to own and manage office space.
Key Highlights
- Well‑maintained three‑story brick office building with approximately 21,840 SF in a high‑traffic Bloomington location
- Currently 80% occupied, offering immediate income potential and additional leasing upside
- Space breakdown: ~7,280 SF per floor (first, second, and basement)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$156,357
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,127,140
$3.1M
Cap Rate 7%
$2,233,671
$2.2M
Cap Rate 9%
$1,737,300
$1.7M
Market Conditions
NOI Build-Up for 14,560 SF
Gross rent
$274.3K $18.84/SF
− Vacancy
−$65.8K −$4.52/SF
EGI
$208.5K $14.32/SF
− OpEx
−$52.1K −$3.58/SF
NOI
$156.4K $10.74/SF
Area
Monroe County, IN
Vacancy
24.00%
Lease Rate
$18.84 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,127,140
Cap Rate 7%
$2,233,671
Cap Rate 9%
$1,737,300
Alternative Uses
Best Use
Office B
$2.23M
$1.95M – $2.61M
NOI $156,357 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.85M
$2.49M – $3.32M
NOI $199,189 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
80%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
511
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Well-maintained three-story brick office building with elevator access, private parking, and flexible layouts with private and collaborative spaces.
Where is this office building located?
The property is located at 1720 N Kinser Pike Bloomington, IN.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Well‑maintained three‑story brick office building with approximately 21,840 SF in a high‑traffic Bloomington location; Currently 80% occupied, offering immediate income potential and additional leasing upside; Space breakdown: ~7,280 SF per floor (first, second, and basement)
