Retail Space with Hood
For Sale
$549,600
531 N Walnut Street, Bloomington, IN 47404
Downtown Core zoning, shared customer parking, and space for outdoor seating support a range of retail concepts.
Property Size1,832 SF
Price / SF$300
Days on Market9
Property Features for 531 N Walnut Street
General Information
Standard status
Active
Size
1,832 SF
Property subtype
Commercial
Zoning
Downtown Core
Amenities
hood vent
shared customer parking
outdoor seating
Building Details
Year Built
1977
Listing Agency:
FC Tucker/Bloomington REALTORS
Listed By:
Chris Cockerham · License #RB14027897
(812) 340-3083
Source:
Jmrealtyonline
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 4:11PM
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 FC Tucker/Bloomington REALTORS
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,832-square-foot retail property was built in 1977 and includes an existing hood vent. The space is within Bloomington’s Downtown Core zoning district, with shared customer parking and room for outdoor seating.
Located at 531 N Walnut Street, the property offers a downtown address for retail or restaurant use.
Located at 531 N Walnut Street, the property offers a downtown address for retail or restaurant use.
Key Highlights
- 1,832‑square‑foot retail space
- Existing hood vent
- Downtown Core zoning district
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,569
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$491,380
$491.4K
Cap Rate 7%
$350,986
$351.0K
Cap Rate 9%
$272,989
$273.0K
Market Conditions
NOI Build-Up for 1,832 SF
Gross rent
$36.7K $20.04/SF
− Vacancy
−$1.6K −$0.88/SF
EGI
$35.1K $19.16/SF
− OpEx
−$10.5K −$5.75/SF
NOI
$24.6K $13.41/SF
Area
Monroe County, IN
Vacancy
4.40%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$491,380
Cap Rate 7%
$350,986
Cap Rate 9%
$272,989
Alternative Uses
Best Use
Retail
$351.0K
$307.1K – $409.5K
NOI $24,569 @ 7.0% cap · market cap 4.47%
Second Best
Specialty Retail
$338.5K
$296.2K – $394.9K
NOI $23,693 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$358.0K
$313.3K – $417.7K
NOI $25,063 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,590
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 Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Downtown Core zoning, shared customer parking, and space for outdoor seating support a range of retail concepts.
Where is this retail space located?
The property is located at 531 N Walnut Street Bloomington, IN.
What is the asking price?
The asking price for this property is $549,600.
What are key features of this property?
This property features: 1,832‑square‑foot retail space; Existing hood vent; Downtown Core zoning district
