Three-Story Office
1600 W Bloomfield Road, Bloomington, IN 47403
For Sale
$5,500,000
COMMERCIAL, Bloomington, IN
Property Size28,077 SF
Lot Size2.31 Acres
Price / SF$195.89
Days on Market96
Property Features for 1600 W Bloomfield Road
General Information
Property type
Property subtype
Rooms
Directions
Subdivision
Standard status
APN
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Amenities
kitchenettes
conference room
handicap-accessible entrances
Building Details
Year built
Flooring type
Roof type
Listing Agency:
FC Tucker/Bloomington REALTORS
(812) 336-7300
Listed By:
Chris Cockerham · License #RB14027897
(812) 340-3083
Added: Aug 4
Changed: Oct 16
Last Checked: Nov 7 at 12:06AM
MLS# 202631512
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.
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Investment Insights
Based on property information with market context.
Built in 2004, this three-story office property occupies 2.31 acres and includes a metal roof, carpet and ceramic tile flooring, and a basement. The building is arranged for multiple occupants, with separate handicap-accessible entrances serving the main and lower levels. Kitchenettes are provided on each floor.
The lower level contains two leased office suites. The main level includes two office areas and a substantial conference room, while the second floor offers a combination of cubicle workstations and private offices. Access to the second level is by stairs only.
Private on-site parking serves tenants and guests. The property is located approximately 3 minutes from I-69, providing direct highway access from the Bloomington area.
The lower level contains two leased office suites. The main level includes two office areas and a substantial conference room, while the second floor offers a combination of cubicle workstations and private offices. Access to the second level is by stairs only.
Private on-site parking serves tenants and guests. The property is located approximately 3 minutes from I-69, providing direct highway access from the Bloomington area.
Key Highlights
- 28,077 SF three‑story office building on 2.31 acres
- Two fully leased office suites on the lower level
- Main level includes two office spaces and a large conference room
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.
How Realmo checks its estimates
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
$222,000
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Bloomington, IN
Properties on Market for Office buildings in Bloomington
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Flexible multi-tenant layout with accessible entrances, private parking, and office accommodations across three levels.
Where is this office building located?
The property is located at 1600 W Bloomfield Road 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 on 2.31 acres; Two fully leased office suites on the lower level; Main level includes two office spaces and a large conference room
