Two-Story Office
For Sale
$995,000
515 S Woodscrest Dr, Bloomington, IN 47401
Brick commercial property with reception, multiple offices, bathrooms, basement storage, and a private upstairs apartment with deck.
Property Size7,354 SF
Price / SF$135.30
Days on Market82
Property Features for 515 S Woodscrest Dr
General Information
Standard status
Active
Size
7,354 SF
Building Details
Year Built
1970
Buildings
1
Stories
2
Construction
brick
Listing Agency:
Jason Millican Group
Listed By:
Jason Millican · License #RB14027891
(317) 372-9999
Source:
Kmsrealestategroup
Added: Jul 23
Changed: Oct 6
Last Checked: Oct 7 at 4:35PM
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 Jason Millican Group
Investment Insights
Based on property information with market context.
This two-level brick office property provides more than 9,000 square feet across a layout that includes a main-floor reception area, multiple offices, and bathrooms. A large basement adds storage capacity, while the upper level contains a private apartment with access to a rear deck.
The property is at 515 S Woodscrest Drive, Building A, in Bloomington, Indiana, near the mall on the city’s east side. Its combination of office areas, substantial storage, and an upper-level residential component creates a varied building configuration within an established commercial setting.
The property is at 515 S Woodscrest Drive, Building A, in Bloomington, Indiana, near the mall on the city’s east side. Its combination of office areas, substantial storage, and an upper-level residential component creates a varied building configuration within an established commercial setting.
Key Highlights
- >9,000 square feet in a two‑story brick office building
- Main level includes reception, multiple offices, and bathrooms
- Private upstairs apartment with rear deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,973
Cap Rate
7.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,579,460
$1.6M
Cap Rate 7%
$1,128,186
$1.1M
Cap Rate 9%
$877,478
$877.5K
Market Conditions
NOI Build-Up for 7,354 SF
Gross rent
$138.5K $18.84/SF
− Vacancy
−$33.3K −$4.52/SF
EGI
$105.3K $14.32/SF
− OpEx
−$26.3K −$3.58/SF
NOI
$79.0K $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%
$1,579,460
Cap Rate 7%
$1,128,186
Cap Rate 9%
$877,478
Alternative Uses
Best Use
Office B
$1.13M
$987.2K – $1.32M
NOI $78,973 @ 7.0% cap · market cap 7.94%
Second Best
Mixed Use
$901.4K
$788.7K – $1.05M
NOI $63,097 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,607 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
995
Businesses Nearby
Explore this area
Business Placement
Demographics for 47401, IN
41,225
Population
21,162
Households
1.9
Avg Household Size
35
Median Age
62%
College-Educated
95%
High-School Grad
82.6 sq mi
ZIP Area
499
Density / Sq Mi
$65,643
Median Household Income
$34,279
Median Earnings
$1,181
Median Rent
$333,100
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Brick commercial property with reception, multiple offices, bathrooms, basement storage, and a private upstairs apartment with deck.
Where is this office building located?
The property is located at 515 S Woodscrest Dr Bloomington, IN.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: >9,000 square feet in a two‑story brick office building; Main level includes reception, multiple offices, and bathrooms; Private upstairs apartment with rear deck
