Day Care Facility with Duplex
New
For Sale
$299,900
1350 E Rhorer Road, Bloomington, IN 47401
COMMERCIAL, Bloomington, IN
Property Size1,934 SF
Lot Size1.25 Acres
Price / SF$155.07
Days on Market1
Property Features for 1350 E Rhorer Road
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Directions
GPS friendly
Subdivision
Monroe County
Standard status
Active
APN
53-08-21-100-032.000-008
Lot size
1.25 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
014-27350-00 PT NE NE 21-8-1W 1.25A PLAT 253
Tax Annual Amount
4413
Legal Description
014-27350-00 PT NE NE 21-8-1W 1.25A PLAT 253
Utilities
Cooling system
Central Air
Amenities
partially fenced backyard
attached garage
covered shelter
unfinished basement
Building Details
Year built
1958
Flooring type
Vinyl, Carpet, Tile
Roof type
Shingle
Listing Agency:
Dohman Team
(812) 606-0136
Listed By:
Craig Dohman · License #RB17001882
(812) 336-2100
Added: Sep 4
Last Checked: Sep 4 at 7:06PM
MLS# 202636608
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.
Investment Insights
Based on property information with market context.
This vacant 1,934-square-foot building is arranged for an in-home day care operation across both sides of the structure. The property includes 4 bedrooms, 2 full baths, central air, vinyl, carpet, and tile flooring, along with an attached garage and a shingle roof. Built in 1958, the building also includes a 900 +/- square foot unfinished basement.
The approximately 1.25-acre parcel provides a partially fenced backyard, ample parking, a covered shelter, and city sewer service. Its existing connecting area links the two sides, while the original duplex configuration provides a documented path for conversion into two residential units. The property is currently vacant.
The approximately 1.25-acre parcel provides a partially fenced backyard, ample parking, a covered shelter, and city sewer service. Its existing connecting area links the two sides, while the original duplex configuration provides a documented path for conversion into two residential units. The property is currently vacant.
Key Highlights
- 1,934 sq ft building with 4 bedrooms and 2 full baths
- Set up for an in‑home day care operation spanning both sides
- Originally configured as a duplex with connecting space between units
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
$17,381
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
5.80%
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%
$347,620
$347.6K
Cap Rate 7%
$248,300
$248.3K
Cap Rate 9%
$193,122
$193.1K
Market Conditions
NOI Build-Up for 1,934 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
$26.2K $13.56/SF
− Vacancy
−$1.4K −$0.72/SF
EGI
$24.8K $12.84/SF
− OpEx
−$7.4K −$3.85/SF
NOI
$17.4K $8.99/SF
Area
Monroe County, IN
Vacancy
5.32%
Lease Rate
$13.56 /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%
$347,620
Cap Rate 7%
$248,300
Cap Rate 9%
$193,122
Alternative Uses
Best Use
Multifamily LT 5
$248.3K
$217.3K – $289.7K
NOI $17,381 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$225.5K
$197.3K – $263.1K
NOI $15,785 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$378.0K
$330.7K – $441.0K
NOI $26,458 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 47401, IN
41,225
Population
21,162
Households
1.9
Avg Household Size
35
Median Age
62%
College-Educated
95%
High-School Grad
82.6 sq mi
ZIP Area
499
Density / Sq Mi
$65,643
Median Household Income
$34,279
Median Earnings
$1,181
Median Rent
$333,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Bridges Early Childhood Center — 770 E Rhorer Rd, Bloomington, IN 47401
- Bridges Early Childhood Center — 1350 E Rhorer Rd, Bloomington, IN 47401
Frequently Asked Questions
What type of property is this?
Day care center - Vacant facility with separate-sided configuration, residential rooms, attached garage, and outdoor area on a substantial parcel.
Where is this day care center located?
The property is located at 1350 E Rhorer Road Bloomington, IN.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,934 sq ft building with 4 bedrooms and 2 full baths; Set up for an in‑home day care operation spanning both sides; Originally configured as a duplex with connecting space between units
