Commercial Property with Pole
For Sale
$449,999
4890 W State Road 46, Bloomington, IN 47404
COMMERCIAL, Bloomington, IN
Property Size2,032 SF
Lot Size1.27 Acres
Price / SF$221.46
Days on Market500
Property Features for 4890 W State Road 46
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Garage
Directions
State Road 46 West into Ellettsville. Home is located on North Side across from Hoosier Putt Hole.
Subdivision
Monroe County
Standard status
Active
APN
53-00-92-049-000.000-013
Lot size
1.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
009-20490-00 PT SW NE 14-9-2W 1.274A PLAT 48
Tax Annual Amount
3920
Legal Description
009-20490-00 PT SW NE 14-9-2W 1.274A PLAT 48
Utilities
Cooling system
Central Air
Building Details
Year built
1960
Flooring type
Wood, Laminate
Roof type
Shingle
Listing Agency:
NVS Realty, LLC
Listed By:
Nicole Van Sant · License #RB14030179
(812) 322-7711
Added: May 26, 2025
Changed: Sep 12
Last Checked: Oct 7 at 1:06AM
MLS# 202519500
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.
Investment Insights
Based on property information with market context.
Set on a 1.274-acre lot, this commercial-zoned property includes a solid limestone ranch home built in 1960 and a separate 896-square-foot pole building. The residence offers 2,032 square feet of living space with three bedrooms and two full bathrooms, plus spacious living areas featuring built-in bookshelves and a double-sided fireplace. Recent interior updates include removal of all carpet to expose the original hardwood flooring, along with new flooring, a new vanity, and a new toilet in the hallway bath. The en suite bath has new flooring and a new toilet. The dilapidated pool has been removed and the area has been filled in to create additional outdoor green space or room for expansion, and the home includes an attached two-car garage.
The property is located on State Road 46, providing straightforward visibility and access for a range of business uses. While it is currently operating as a residential homestead, the zoning supports commercial use, offering flexibility for buyers who want to combine a home base with income or business-oriented operations.
For tenants, buyers, or operators seeking a property that can accommodate both practical office or workspace needs and on-site storage, the pole building provides a dedicated footprint separate from the residence. The existing home configuration, garage, and updated interior finishes can support a variety of owner-occupied or mixed-use plans, subject to applicable requirements for the intended commercial use.
The property is located on State Road 46, providing straightforward visibility and access for a range of business uses. While it is currently operating as a residential homestead, the zoning supports commercial use, offering flexibility for buyers who want to combine a home base with income or business-oriented operations.
For tenants, buyers, or operators seeking a property that can accommodate both practical office or workspace needs and on-site storage, the pole building provides a dedicated footprint separate from the residence. The existing home configuration, garage, and updated interior finishes can support a variety of owner-occupied or mixed-use plans, subject to applicable requirements for the intended commercial use.
Key Highlights
- 1.274‑acre lot with a limestone ranch‑style home built in 1960 and 2,032 SF of living space
- 3 bedrooms and 2 full bathrooms, with built‑in bookshelves and a double‑sided fireplace
- Zoned for commercial use and currently used as a residential homestead
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,585
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$331,700
$331.7K
Cap Rate 7%
$236,929
$236.9K
Cap Rate 9%
$184,278
$184.3K
Market Conditions
NOI Build-Up for 2,032 SF
Gross rent
$31.9K $15.72/SF
− Vacancy
−$1.8K −$0.88/SF
EGI
$30.2K $14.84/SF
− OpEx
−$13.6K −$6.68/SF
NOI
$16.6K $8.16/SF
Area
Monroe County, IN
Vacancy
5.60%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$331,700
Cap Rate 7%
$236,929
Cap Rate 9%
$184,278
Alternative Uses
Best Use
Apartment 5plus
$236.9K
$207.3K – $276.4K
NOI $16,585 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$397.1K
$347.5K – $463.3K
NOI $27,799 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
251
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
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercial-zoned property on State Road 46 with a renovated limestone ranch and substantial pole building for storage or workspace.
Where is this commercial land located?
The property is located at 4890 W State Road 46 Bloomington, IN.
What is the asking price?
The asking price for this property is $449,999.
What are key features of this property?
This property features: 1.274‑acre lot with a limestone ranch‑style home built in 1960 and 2,032 SF of living space; 3 bedrooms and 2 full bathrooms, with built‑in bookshelves and a double‑sided fireplace; Zoned for commercial use and currently used as a residential homestead
