Office Suite with Private
For Sale
$259,200
400 W 7th Street Unit 106, Bloomington, IN 47404
Six enclosed offices are complemented by a kitchenette, storage, and a secured reception area.
Property Size29,149 SF
Price / SF$180
Days on Market9
Property Features for 400 W 7th Street Unit 106
General Information
Standard status
Active
Size
29,149 SF
Property subtype
Commercial
Additional Details
Office Units
1
Property Use
Office
Amenities
kitchenette
conference room
secure reception area
Building Details
Year Built
1913
Building Size
29,149 SF
Listing Agency:
Colliers International
Listed By:
Dave Harstad · License #RB14036381
(812) 361-1230
Source:
Jmrealtyonline
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 4:05PM
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 Colliers International
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Suite 106 offers 1,440 SF within the 29,149 SF Johnson Creamery building, constructed in 1913. Its layout includes six private offices, a kitchenette, storage areas and a file room, plus a reception area with controlled access. Use of a large conference room is included, as are the common restrooms and lobby, with no additional rent for those shared areas.
The downtown Bloomington property sits immediately beside the B-Line Trail and Showers Complex, with restaurants, government offices, and other downtown amenities nearby. Parking options include Fairview Methodist, one block away, and the Trades District Garage, a two-minute walk from the building.
The downtown Bloomington property sits immediately beside the B-Line Trail and Showers Complex, with restaurants, government offices, and other downtown amenities nearby. Parking options include Fairview Methodist, one block away, and the Trades District Garage, a two-minute walk from the building.
Key Highlights
- 1,440 SF office suite with six private offices
- Kitchenette, storage areas, file room, and secured reception area
- Conference room use included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,464
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$309,280
$309.3K
Cap Rate 7%
$220,914
$220.9K
Cap Rate 9%
$171,822
$171.8K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$27.1K $18.84/SF
− Vacancy
−$6.5K −$4.52/SF
EGI
$20.6K $14.32/SF
− OpEx
−$5.2K −$3.58/SF
NOI
$15.5K $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%
$309,280
Cap Rate 7%
$220,914
Cap Rate 9%
$171,822
Alternative Uses
Best Use
Office B
$220.9K
$193.3K – $257.7K
NOI $15,464 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$281.4K
$246.3K – $328.3K
NOI $19,700 @ 7.0% cap · market cap 7.60%
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
1
Office units
Location Intelligence
Trade Area within ½ mile
2,373
Businesses Nearby
Explore this area
Business Placement
Demographics for 47404, IN
23,799
Population
12,101
Households
2
Avg Household Size
33
Median Age
43%
College-Educated
95%
High-School Grad
52.6 sq mi
ZIP Area
452
Density / Sq Mi
$54,674
Median Household Income
$36,725
Median Earnings
$1,159
Median Rent
$243,500
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?
Office unit - Six enclosed offices are complemented by a kitchenette, storage, and a secured reception area.
Where is this office unit located?
The property is located at 400 W 7th Street Unit 106 Bloomington, IN.
What is the asking price?
The asking price for this property is $259,200.
What are key features of this property?
This property features: 1,440 SF office suite with six private offices; Kitchenette, storage areas, file room, and secured reception area; Conference room use included
