Corner Lot Office
For Sale
$515,000
1815 S Walnut Street, Bloomington, IN 47401
COMMERCIAL - Bloomington, IN
Property Size2,300 SF
Lot Size0.37 Acres
Price / SF$223.91
Days on Market96
Property Features for 1815 S Walnut Street
General Information
Property type
Commercial Sale
Property subtype
Office
Directions
GPS friendly
Subdivision
Monroe County
Standard status
Active
APN
53-08-09-200-006.000-009
Lot size
0.37 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
015-24350-00 PT NW NW 9-8-1W .376A
Tax Annual Amount
13559
Legal Description
015-24350-00 PT NW NW 9-8-1W .376A
Utilities
Cooling system
Central Air
Building Details
Year built
1995
Flooring type
Mixed
Roof type
Shingle
Listing Agency:
Dohman Team
(812) 606-0136
Listed By:
Craig Dohman · License #RB17001882
(812) 606-0136
Added: Apr 28
Changed: Jul 17
Last Checked: Aug 1 at 7:06PM
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.
Investment Insights
Based on property information with market context.
Well-maintained office building totaling approximately 2,300 square feet, set on a corner lot. The interior features a front reception area, seven offices, a conference room, two bathrooms, and a kitchenette area. The property is vacant and ready for immediate occupancy, with handicap accessibility and a driveway that circles the building to support easy access for deliveries or additional parking.
Located at 1815 S Walnut Street in Bloomington, about one mile south of downtown, the building sits at a signalized intersection with strong visual exposure.
With nine parking spaces and a straightforward office layout, the building suits owner-occupied businesses or investor purchasers seeking a turn-key, ready-to-use space.
Located at 1815 S Walnut Street in Bloomington, about one mile south of downtown, the building sits at a signalized intersection with strong visual exposure.
With nine parking spaces and a straightforward office layout, the building suits owner-occupied businesses or investor purchasers seeking a turn-key, ready-to-use space.
Key Highlights
- 2,300 sq ft office/retail building on a corner lot at a signalized intersection, about 1 mile south of downtown Bloomington
- Interior layout includes front reception, 7 offices, and a conference room with 2 bathrooms and a kitchenette area
- Central air cooling, shingle roof; year built 1995
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 | $43.3k | $18.84 |
| − Vacancy | −$10.4k | −$4.52 |
| EGI | $32.9k | $14.32 |
| − OpEx | −$8.2k | −$3.58 |
| NOI | $24.7k | $10.74 |
2,300 SF · lease $18.84/SF/yr · vacancy 24.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$352.8K
$308.7K – $411.7K
NOI $24,699 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$449.5K
$393.3K – $524.4K
NOI $31,465 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,937
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Well-maintained office building with reception, seven offices, conference room, two baths, kitchenette, and nine parking spaces.
Where is this office building located?
The property is located at 1815 S Walnut Street Bloomington, IN.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: 2,300 sq ft office/retail building on a corner lot at a signalized intersection, about 1 mile south of downtown Bloomington; Interior layout includes front reception, 7 offices, and a conference room with 2 bathrooms and a kitchenette area; Central air cooling, shingle roof; year built 1995
