Light Industrial Flex Production
For Sale
$725,000
125 S Westplex Ave, Bloomington, IN 47404
Light industrial building includes production/shop space and an office area, currently leased through June 25, 2027.
Property Size8,500 SF
Price / SF$85.29
Days on Market75
Property Features for 125 S Westplex Ave
General Information
Standard status
Active
Size
8,500 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
1997
Tenancy
Single
Listing Agency:
Realty Professionals
Listed By:
Jim Regester · License #RB14012351
(812) 323-1231
Source:
Barberryrealty
Added: Jul 25
Changed: Sep 21
Last Checked: Oct 5 at 11:05PM
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 Realty Professionals
Investment Insights
Based on property information with market context.
This light industrial flex property offers approximately 6,000 SF of production/shop space and about 2,500+ SF of office space, totaling 8,500 SF. The facility is zoned for light industrial and is configured to support both operational and office needs under one roof.
The property is located near the west side of Bloomington, about 1.5 miles from I-69 and roughly 1 mile from Downtown Bloomington.
The building is currently leased to a long-term tenant until June 25, 2027 with no options to renew. The stated yearly rent is $6/SF ($4,250 monthly), plus taxes, insurance, and CAM charges.
The property is located near the west side of Bloomington, about 1.5 miles from I-69 and roughly 1 mile from Downtown Bloomington.
The building is currently leased to a long-term tenant until June 25, 2027 with no options to renew. The stated yearly rent is $6/SF ($4,250 monthly), plus taxes, insurance, and CAM charges.
Key Highlights
- 8500 SF light industrial building zoned for light industrial use, with 6000 SF production/shop space
- Includes 2500+/- SF office space within the building
- Long‑term tenant lease runs until June 25, 2027 with no options to renew
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
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
Flex RnD
$1.09M
$953.1K – $1.27M
NOI $76,245 @ 7.0% cap · market cap 10.52%
Second Best
Industrial
$718.0K
$628.2K – $837.6K
NOI $50,258 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,285 @ 7.0% cap · market cap 16.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
980
Businesses Nearby
Under-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Light industrial building includes production/shop space and an office area, currently leased through June 25, 2027.
Where is this flex space located?
The property is located at 125 S Westplex Ave 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: 8500 SF light industrial building zoned for light industrial use, with 6000 SF production/shop space; Includes 2500+/- SF office space within the building; Long‑term tenant lease runs until June 25, 2027 with no options to renew
