Corner Office
1815 S Walnut Street, Bloomington, IN 47401
For Sale
$495,000
COMMERCIAL, Bloomington, IN
Property Size2,300 SF
Lot Size0.37 Acres
Price / SF$215.22
Days on Market194
Property Features for 1815 S Walnut Street
General Information
Property type
Property subtype
Directions
Subdivision
Standard status
APN
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Cooling system
Amenities
conference room
kitchenette
Building Details
Year built
Flooring type
Roof type
Listing Agency:
Dohman Team
Listed By:
Craig Dohman · License #RB17001882
(812) 606-0136
Added: Apr 28
Changed: Oct 23
Last Checked: Nov 7 at 3:06AM
MLS# 202615368
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.
This 2,300-square-foot office property was built in 1995 and occupies a 0.37-acre corner lot. The interior provides a reception area, 7 offices, a conference room, 2 bathrooms, and a kitchenette. Mixed flooring and central air support a functional professional setting, while the shingle roof is part of the building’s existing improvements.
Positioned one mile south of downtown Bloomington at a signalized intersection, the property has exposure from its corner setting and convenient circulation around the building. The driveway accommodates deliveries and additional vehicle movement, with 9 parking spots on site. Handicap accessibility is in place, and the building is vacant for immediate occupancy.
Positioned one mile south of downtown Bloomington at a signalized intersection, the property has exposure from its corner setting and convenient circulation around the building. The driveway accommodates deliveries and additional vehicle movement, with 9 parking spots on site. Handicap accessibility is in place, and the building is vacant for immediate occupancy.
Key Highlights
- 2,300‑square‑foot office building on a 0.37‑acre corner lot
- Interior includes reception, 7 offices, conference room, 2 bathrooms, and kitchenette
- Located one mile south of downtown Bloomington at a signalized intersection
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,699
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,980
$494.0K
Cap Rate 7%
$352,843
$352.8K
Cap Rate 9%
$274,433
$274.4K
Market Conditions
NOI Build-Up for 2,300 SF
Gross rent
$43.3K $18.84/SF
− Vacancy
−$10.4K −$4.52/SF
EGI
$32.9K $14.32/SF
− OpEx
−$8.2K −$3.58/SF
NOI
$24.7K $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%
$493,980
Cap Rate 7%
$352,843
Cap Rate 9%
$274,433
Alternative Uses
Best Use
Office B
$352.8K
$308.7K – $411.7K
NOI $24,699 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
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
Lease Details
Yes
Paved road access
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Vacant, accessible workplace with reception, private rooms, conference space, and on-site parking.
Where is this office unit located?
The property is located at 1815 S Walnut Street 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: 2,300‑square‑foot office building on a 0.37‑acre corner lot; Interior includes reception, 7 offices, conference room, 2 bathrooms, and kitchenette; Located one mile south of downtown Bloomington at a signalized intersection
