Mixed-Use Office/Retail
1815 S Walnut Street, Bloomington, IN 47401
For Sale
New
$495,000
COMMERCIAL, Bloomington, IN
Property Size2,300 SF
Lot Size0.37 Acres
Price / SF$215.22
Days on Market1
Property Features for 1815 S Walnut Street
General Information
Property type
Property subtype
Directions
Subdivision
Standard status
APN
Lot size
Additional Details
Corner Location
Property Use
Condition
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Cooling system
Amenities
conference room
kitchenette
handicap accessible
Building Details
Year built
Flooring type
Roof type
Buildings
Listing Agency:
Dohman Team
Listed By:
Craig Dohman · License #RB17001882
(812) 606-0136
Added: Nov 6
Last Checked: Nov 6 at 9:06PM
MLS# 202645770
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 mixed-use office and retail building was constructed in 1995 and is currently vacant. Its interior includes a reception area, seven offices, a conference room, two bathrooms, and a kitchenette. Central air, mixed flooring, and a shingle roof are among the building features. The property occupies a 0.37-acre corner lot and has nine parking spaces, plus a driveway that circles the building. Handicap access is provided.
The property is one mile south of downtown Bloomington at a signalized intersection. The surrounding access and site layout support vehicle circulation, including deliveries, while the on-site parking provides additional capacity for visitors or staff.
The property is one mile south of downtown Bloomington at a signalized intersection. The surrounding access and site layout support vehicle circulation, including deliveries, while the on-site parking provides additional capacity for visitors or staff.
Key Highlights
- 2,300‑square‑foot office and retail building on a 0.37‑acre corner lot
- Seven offices, reception area, conference room, kitchenette, and two bathrooms
- Nine parking spaces and a driveway that circles the building
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
Mixed Use
$281.9K
$246.7K – $328.9K
NOI $19,734 @ 7.0% cap · market cap 3.99%
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
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
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?
Mixed-use property - Vacant and accessible, the building has private offices, a conference room, and on-site parking.
Where is this mixed-use property 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 and retail building on a 0.37‑acre corner lot; Seven offices, reception area, conference room, kitchenette, and two bathrooms; Nine parking spaces and a driveway that circles the building
