Church Facility with Walkout
For Sale
$425,000
1409 W Kirkwood Ave, Bloomington, IN 47404
Vacant religious facility with MM zoning and access from Kirkwood Ave.
Property Size2,380 SF
Price / SF$178.57
Days on Market95
Property Features for 1409 W Kirkwood Ave
General Information
Standard status
Active
Size
2,380 SF
Building Details
Year Built
1980
Listing Agency:
Dohman Team
Listed By:
Craig Dohman · License #RB17001882
(812) 606-0136
Source:
Barberryrealty
Added: Jul 14
Changed: Oct 12
Last Checked: Oct 15 at 4:50AM
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 Dohman Team
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Investment Insights
Based on property information with market context.
Located at 1409 W Kirkwood Ave in Bloomington, this vacant religious facility includes an open main-floor area, several lower-level rooms, and a full walkout basement. The building was constructed in 1980 and is supported by 13 paved parking spaces.
The property carries MM, or Mixed-Use Medium Scale, zoning, which permits most business uses, including office and retail. Its layout can accommodate continued religious use, while the zoning also allows consideration of multifamily, residential, and other redevelopment concepts. The property is offered for sale or lease.
The property carries MM, or Mixed-Use Medium Scale, zoning, which permits most business uses, including office and retail. Its layout can accommodate continued religious use, while the zoning also allows consideration of multifamily, residential, and other redevelopment concepts. The property is offered for sale or lease.
Key Highlights
- MM (Mixed‑Use Medium Scale) zoning permits most business uses, including office and retail
- Open main‑floor area with multiple lower‑level rooms and a full walkout basement
- 13 paved parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,420
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$408,400
$408.4K
Cap Rate 7%
$291,714
$291.7K
Cap Rate 9%
$226,889
$226.9K
Market Conditions
NOI Build-Up for 2,380 SF
Gross rent
$37.1K $15.60/SF
− Vacancy
−$4.5K −$1.87/SF
EGI
$32.7K $13.73/SF
− OpEx
−$12.3K −$5.15/SF
NOI
$20.4K $8.58/SF
Area
Monroe County, IN
Vacancy
12.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$408,400
Cap Rate 7%
$291,714
Cap Rate 9%
$226,889
Alternative Uses
Best Use
Mixed Use
$291.7K
$255.3K – $340.3K
NOI $20,420 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$465.1K
$407.0K – $542.7K
NOI $32,560 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,279
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
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Vacant religious facility with MM zoning and access from Kirkwood Ave.
Where is this church & religious facility located?
The property is located at 1409 W Kirkwood Ave Bloomington, IN.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: MM (Mixed‑Use Medium Scale) zoning permits most business uses, including office and retail; Open main‑floor area with multiple lower‑level rooms and a full walkout basement; 13 paved parking spaces
