1602 W 3rd Street, Bloomington, IN 47404
- Added:
- Jul 22, 2025
- Days on Market:
- 349
- Last Refresh:
- Jul 5 at 12:06 am
Property Features for 1602 W 3rd Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Standard status
- Active
- APN
- 53-01-30-562-006.000-005
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- 013-05620-06 THIRD STREET CROSSING UNIT D
- Tax Annual Amount
- 3607
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1992
- Flooring type
- Tile
- Roof type
- Shingle
Listing agent Chris Cockerham License #RB14027897 (812) 340-3083
Listing office FC Tucker/Bloomington REALTORS 487 S Clarizz Blvd, Bloomington, IN (812) 336-7300
Listing date Jul 22, 2025
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.
HighLights
- ±1,260 SF condo suite along W. 3rd Street in Bloomington with highly visible frontage
- Suite D layout includes two private offices, a spacious open area, and a reception window
- Shared parking lot with the rest of the building for staff and visitor access
- Built in 1992 with central air and tile flooring
- Shingle roof
Overview
The suite is located within a building positioned along W. 3rd Street in Bloomington, with frontage that supports signage opportunities and day-to-day visibility. Parking is shared with the rest of the building, helping provide straightforward access for staff and visitors.
For businesses that need a mix of private offices and collaborative open space, this configuration can accommodate a range of professional uses. The reception window also supports an organized front-facing presence for welcoming visitors, while the shared on-site parking can simplify arrival for employees and clients.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.7k | $18.84 |
| − Vacancy | −$5.7k | −$4.52 |
| EGI | $18.0k | $14.32 |
| − OpEx | −$4.5k | −$3.58 |
| NOI | $13.5k | $10.74 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Bloomington
- County
- Monroe
- State
- Indiana
- Longitude
- -86.553545
- Latitude
- 39.164827