Two-Story Office
300-314 W 1st Street Bloomington, IN 47403
300-314 W 1st Street, Bloomington, IN, 47403
$1,575,000
For Sale
$1,575,000
Two-story office property totaling 6,120 square feet across three parcels, recently rezoned to Mixed-Use Medium Scale.
Property Size6,120 SF
Lot Size0.57 Acres
Price / SF$257.35
Days on Market1633
Property Features for 300-314 W 1st Street
General Information
- Standard status
- Active
- Size
- 6,120 SF
- Lot size
- 0.57 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1977
Listing agency
FC Tucker/Bloomington REALTORS
(812) 336-7300
Listed by
Chris Cockerham · License #RB14027897
(812) 336-7300
Source
Xome
Added: Feb 1, 2022 Updated: Jul 22 at 6:30PM Checked: Jul 22 at 6:30PM
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 FC Tucker/Bloomington REALTORS
Investment Insights
Based on property information with market context.
This two-story office property totals 6,120 square feet and is situated on three parcels totaling approximately 0.57 acres. The site presents a flexible setup for office use or future redevelopment, supported by the property’s recently updated zoning status.
The property is located adjacent to the B-Line Trail and the Hopewell Development, with convenient access to downtown Bloomington, public transit, and an emerging mixed-use growth area.
The property has been rezoned to Mixed-Use Medium Scale (MM), which now supports 33 additional permitted uses, expanding options for owner-occupiers or developers. Estimated annual taxes are approximately $14,698.
The property is located adjacent to the B-Line Trail and the Hopewell Development, with convenient access to downtown Bloomington, public transit, and an emerging mixed-use growth area.
The property has been rezoned to Mixed-Use Medium Scale (MM), which now supports 33 additional permitted uses, expanding options for owner-occupiers or developers. Estimated annual taxes are approximately $14,698.
Key Highlights
- 6,120 SF, two‑story building across three parcels totaling approx. 0.57 acres
- Recently rezoned to Mixed‑Use Medium Scale (MM) with 33 additional permitted uses
- Central air cooling and heating system noted as '3'
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 | $115.3k | $18.84 |
| − Vacancy | −$27.7k | −$4.52 |
| EGI | $87.6k | $14.32 |
| − OpEx | −$21.9k | −$3.58 |
| NOI | $65.7k | $10.74 |
6,120 SF · lease $18.84/SF/yr · vacancy 24.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$938.9K
$821.5K – $1.10M
NOI $65,721 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,725 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Office building - Two-story office property totaling 6,120 square feet across three parcels, recently rezoned to Mixed-Use Medium Scale.
Where is this office building located?
The property is located at 300-314 W 1st Street Bloomington, IN.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: 6,120 SF, two‑story building across three parcels totaling approx. 0.57 acres; Recently rezoned to Mixed‑Use Medium Scale (MM) with 33 additional permitted uses; Central air cooling and heating system noted as '3'
