322 W 3rd Street, Bloomington, IN 47404
COMMERCIAL - Bloomington, IN
- Added:
- Nov 11, 2025
- Days on Market:
- 236
- Last Refresh:
- Jul 5 at 1:06 am
Property Features for 322 W 3rd Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Rooms
- Basement
- Parking features
- Garage, Off Street, Offsite
- Fencing
- Chain Link
- Standard status
- Active
- APN
- 53-05-33-310-076.000-005
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Description
- 013-15530-00 ORIGINAL PLAT PT LOT 56; 013-15540-00 ORIGINAL PLAT PT LOT 56; and 013-15550-00 ORIGINAL PLAT PT LOT 56
- Tax Annual Amount
- 4448
Utilities
- Cooling system
- Central Air, Wall Unit(s), Multi Units
Building Details
- Year built
- 1935
- Flooring type
- Wood, Carpet, Tile
- Roof type
- Rubber
Listing agent Chris Smith License #RB15000074 (812) 219-3030
Listing office RE/MAX Acclaimed Properties 3695 S Sare Rd., Bloomington, IN (812) 332-3001
Listing date Nov 11, 2025
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.
HighLights
- Two‑building property totaling approx. 8,808 SF on 0.2 acres in downtown, zoned MD/DC (zoning details in documents).
- Corner building features a display room, office, and shop area.
- Second building includes a partial basement, showroom with large windows and hardwood floors, plus shop space.
- Second building also has an apartment on the second floor with private access.
- Year built: 1935; flooring includes wood, tile, and carpet.
- Roof type listed as rubber; cooling includes central air, wall units, and multi‑unit cooling.
Overview
The second building features a partial basement and a showroom with large windows and hardwood floors, along with additional shop space. There is also an apartment on the second floor with private access. The property is positioned to support downtown activity, with easy access to the Bline trail and nearby downtown amenities, and zoning details are available in the documents section. A virtual tour is also available.
The layout supports multiple operating models, including retail or showroom use combined with office and shop functions, while the separate second-floor apartment can provide flexibility for an owner-operator or a separate living arrangement. Prospective tenants, buyers, and brokers can review the included zoning information to confirm the best fit for their planned use before touring.
Local Financial Insights For Retail
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 | $176.5k | $20.04 |
| − Vacancy | −$7.8k | −$0.88 |
| EGI | $168.7k | $19.16 |
| − OpEx | −$50.6k | −$5.75 |
| NOI | $118.1k | $13.41 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Lowe's Home Improvement — 350 N Gates Dr, Bloomington, IN 47404
- At Home — 3175 W 3rd St, Bloomington, IN 47404
Location Insight
- Map
- Local Demand
- City
- Bloomington
- County
- Monroe
- State
- Indiana
- Longitude
- -86.53723
- Latitude
- 39.164827
