Building Details

Year Built 1958

Listing Agency: Owens Realty Group

Listed By: Scott Owens · License #RB14023735 Show Phone

Source: Kmsrealestategroup

Added: Aug 23 Changed: Oct 2 Last Checked: Oct 7 at 1:46PM

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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 Owens Realty Group

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Investment Insights

Based on property information with market context.

This 15,400-square-foot warehouse at 1430 N Willis Dr includes climate-controlled space, three restrooms, an exterior loading dock, and garage door access. The 1958 building also provides ample parking and room for expansion.

The property is in Bloomington, close to Indiana University and downtown. Its existing loading infrastructure, temperature-controlled interior, and expansion area support a range of storage and commercial uses.

Key Highlights

• 15,400‑square‑foot warehouse with climate‑controlled space
• Exterior loading dock with garage door access
• Three restrooms and ample parking

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$110,567

Cap Rate

5.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,211,340 $2.2M

Cap Rate 7%

$1,579,529 $1.6M

Cap Rate 9%

$1,228,522 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 15,400 SF

Gross rent

$146.0K $9.48/SF

− Vacancy

−$15.9K −$1.03/SF

EGI

$130.1K $8.45/SF

− OpEx

−$19.5K −$1.27/SF

NOI

$110.6K $7.18/SF

Area

Monroe County, IN

Vacancy

10.90%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,211,340

Cap Rate 7%

$1,579,529

Cap Rate 9%

$1,228,522

Alternative Uses

Best Use

Warehouse

$1.58M

$1.38M – $1.84M (±1% cap)

NOI $110,567 @ 7.0% cap · market cap 5.98%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.01M

$2.63M – $3.51M (±1% cap)

NOI $210,681 @ 7.0% cap · market cap 11.39%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Warehouses

Suggested Use

Top Pick Building Supply Dental Office Auto Parts Store Big Box & Wholesale Store Furniture & Home Goods Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

769

Businesses Nearby

Balanced

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

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Similar Off Market Nearby

• Straight Outta Storage — 1503 W Arlington Rd, Bloomington, IN 47404
• Bloomington Miniwarehouse — 1117 N Jackson St, Bloomington, IN 47404
• Virtu360 - 3D Virtual Tours — 1329 N Woodburn Ave, Bloomington, IN 47404
• Storage Express — 606 W Gourley Pike, Bloomington, IN 47404

Frequently Asked Questions

What type of property is this?

Warehouse - Industrial building with loading dock access, three restrooms, and parking.

Where is this warehouse located?

The property is located at 1430 N Willis Dr Bloomington, IN.

What is the asking price?

The asking price for this property is $1,850,000.

What are key features of this property?

This property features: 15,400‑square‑foot warehouse with climate‑controlled space; Exterior loading dock with garage door access; Three restrooms and ample parking