Office Suite with Private
For Sale
$596,568
400 W 7th Street Unit 104, Bloomington, IN 47404
A multi-room workspace includes a kitchenette, reception area, and access to a shared conference room.
Property Size29,149 SF
Price / SF$168
Days on Market9
Property Features for 400 W 7th Street Unit 104
General Information
Standard status
Active
Size
29,149 SF
Property subtype
Commercial
Additional Details
Property Use
Office
Amenities
conference room
Building Details
Year Built
1913
Building Size
29,149 SF
Abandoned
No
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 3:44PM
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
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Investment Insights
Based on property information with market context.
Suite 104 offers 3,551 square feet within the 29,149-square-foot Johnson Creamery building, constructed in 1913. Its layout includes eleven private offices, a kitchenette, an expansive open area, reception space, and a file room. Tenants also have use of a large conference room, with common restrooms and lobby space outside the suite.
The downtown Bloomington property is adjacent to the B-Line Trail and Showers Complex. Restaurants, government offices, and other downtown amenities are nearby. Parking is available at the Trades District Garage, a two-minute walk from the building.
The downtown Bloomington property is adjacent to the B-Line Trail and Showers Complex. Restaurants, government offices, and other downtown amenities are nearby. Parking is available at the Trades District Garage, a two-minute walk from the building.
Key Highlights
- 3,551 SF suite in the 29,149 SF Johnson Creamery
- Eleven private offices, plus open area, kitchenette, reception, and file room
- Use of a large conference room is included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,133
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$762,660
$762.7K
Cap Rate 7%
$544,757
$544.8K
Cap Rate 9%
$423,700
$423.7K
Market Conditions
NOI Build-Up for 3,551 SF
Gross rent
$66.9K $18.84/SF
− Vacancy
−$16.1K −$4.52/SF
EGI
$50.8K $14.32/SF
− OpEx
−$12.7K −$3.58/SF
NOI
$38.1K $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%
$762,660
Cap Rate 7%
$544,757
Cap Rate 9%
$423,700
Alternative Uses
Best Use
Office B
$544.8K
$476.7K – $635.6K
NOI $38,133 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$694.0K
$607.3K – $809.7K
NOI $48,580 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,373
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - A multi-room workspace includes a kitchenette, reception area, and access to a shared conference room.
Where is this office unit located?
The property is located at 400 W 7th Street Unit 104 Bloomington, IN.
What is the asking price?
The asking price for this property is $596,568.
What are key features of this property?
This property features: 3,551 SF suite in the 29,149 SF Johnson Creamery; Eleven private offices, plus open area, kitchenette, reception, and file room; Use of a large conference room is included
