Three-Story Office
For Sale
$5,500,000
1600 W Bloomfield Rd, Bloomington, IN 47403
Flexible multi-level office property with accessible entrances, kitchenettes, private parking, and multiple suite configurations.
Property Size28,077 SF
Price / SF$195.89
Days on Market66
Property Features for 1600 W Bloomfield Rd
General Information
Standard status
Active
Size
28,077 SF
Elevators
No
Additional Details
Highway Access
Yes
Amenities
kitchenettes
handicap-accessible entrances
conference room
Building Details
Year Built
2004
Buildings
1
Stories
3
Building Size
28,077 SF
Tenancy
Multi
Listing Agency:
FC Tucker/Bloomington REALTORS
Listed By:
Chris Cockerham · License #RB14027897
(812) 340-3083
Source:
Barberryrealty
Added: Aug 9
Changed: Sep 12
Last Checked: Oct 7 at 3:59PM
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.
Built in 2004, this 28,077 SF office building spans three levels and supports a range of professional, medical, and institutional uses. The main and lower floors have separate handicap-accessible entrances, while the second floor is reached by stairs. Existing improvements include private offices, cubicles, a large conference room, and kitchenettes on each floor.
The lower level contains two fully leased office suites. Two additional office spaces are located on the main level, and the second floor is leasable with a combination of private offices and cubicle areas. Private on-site parking serves tenants and guests, and the property is approximately 3 minutes from I-69.
The lower level contains two fully leased office suites. Two additional office spaces are located on the main level, and the second floor is leasable with a combination of private offices and cubicle areas. Private on-site parking serves tenants and guests, and the property is approximately 3 minutes from I-69.
Key Highlights
- ±28,077 SF three‑story office building built in 2004
- Approximately 3 minutes from I‑69
- Two fully leased office suites on the lower level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$301,513
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,030,260
$6.0M
Cap Rate 7%
$4,307,329
$4.3M
Cap Rate 9%
$3,350,144
$3.4M
Market Conditions
NOI Build-Up for 28,077 SF
Gross rent
$529.0K $18.84/SF
− Vacancy
−$127.0K −$4.52/SF
EGI
$402.0K $14.32/SF
− OpEx
−$100.5K −$3.58/SF
NOI
$301.5K $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%
$6,030,260
Cap Rate 7%
$4,307,329
Cap Rate 9%
$3,350,144
Alternative Uses
Best Use
Office B
$4.31M
$3.77M – $5.03M
NOI $301,513 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.49M
$4.80M – $6.40M
NOI $384,110 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
790
Businesses Nearby
Explore this area
Business Placement
Demographics for 47403, IN
33,066
Population
16,271
Households
2
Avg Household Size
35
Median Age
39%
College-Educated
93%
High-School Grad
85.0 sq mi
ZIP Area
389
Density / Sq Mi
$68,703
Median Household Income
$40,391
Median Earnings
$1,114
Median Rent
$222,000
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Flexible multi-level office property with accessible entrances, kitchenettes, private parking, and multiple suite configurations.
Where is this office building located?
The property is located at 1600 W Bloomfield Rd Bloomington, IN.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: ±28,077 SF three‑story office building built in 2004; Approximately 3 minutes from I‑69; Two fully leased office suites on the lower level
