Bloomington Office/Retail Building For
For Sale
$495,000
1815 S Walnut St, Bloomington, IN 47401
Well-maintained office/retail building with high visibility and accessibility.
Property Size2,300 SF
Price / SF$215.22
Days on Market275
Property Features for 1815 S Walnut St
General Information
Standard status
Active
Size
2,300 SF
Building Details
Year Built
1995
Listing Agency:
Dohman Team
Listed By:
Craig Dohman · License #RB17001882
(812) 606-0136
Source:
Callcriswell
Added: Jan 26
Changed: Oct 25
Last Checked: Oct 7 at 2:56PM
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.
This well-maintained 2,300 sq ft building is located in Bloomington, one mile south of downtown, situated on a corner lot at a signalized intersection, offering excellent visibility. The building features a front reception area, 7 offices, a conference room, 2 bathrooms, and a kitchenette area. It includes 9 parking spots and is handicap accessible, with a driveway circling the building to facilitate deliveries or additional parking. The property is currently leased by Help at Home, with the lease expiring on March 31, 2026. It is suitable for either an owner-occupied business or as an investment property. The property is also available for sale.
Key Highlights
- Prime location: One mile South of downtown Bloomington at a signalized intersection with excellent visibility.
- Well‑maintained 2,300 sq ft building suitable for office or retail.
- Currently leased by Help at Home until March 31, 2026, offering immediate investment income.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,845
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,900
$616.9K
Cap Rate 7%
$440,643
$440.6K
Cap Rate 9%
$342,722
$342.7K
Market Conditions
NOI Build-Up for 2,300 SF
Gross rent
$46.1K $20.04/SF
− Vacancy
−$2.0K −$0.88/SF
EGI
$44.1K $19.16/SF
− OpEx
−$13.2K −$5.75/SF
NOI
$30.8K $13.41/SF
Area
Monroe County, IN
Vacancy
4.40%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,900
Cap Rate 7%
$440,643
Cap Rate 9%
$342,722
Alternative Uses
Best Use
Retail
$440.6K
$385.6K – $514.1K
NOI $30,845 @ 7.0% cap · market cap 6.23%
Second Best
Office B
$352.8K
$308.7K – $411.7K
NOI $24,699 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$449.5K
$393.3K – $524.4K
NOI $31,465 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
589
Businesses Nearby
Explore this area
Business Placement
Demographics for 47401, IN
41,225
Population
21,162
Households
1.9
Avg Household Size
35
Median Age
62%
College-Educated
95%
High-School Grad
82.6 sq mi
ZIP Area
499
Density / Sq Mi
$65,643
Median Household Income
$34,279
Median Earnings
$1,181
Median Rent
$333,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Well-maintained office/retail building with high visibility and accessibility.
Where is this office unit located?
The property is located at 1815 S Walnut St Bloomington, IN.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Prime location: One mile South of downtown Bloomington at a signalized intersection with excellent visibility.; Well‑maintained 2,300 sq ft building suitable for office or retail.; Currently leased by Help at Home until March 31, 2026, offering immediate investment income.
