Mixed-Use Property with Certified
For Sale
Contact for pricing
615 W Kirkwood Avenue, Bloomington, IN 47404
A historic house configured for retail or office use includes a rear deck and parking behind the building.
Property Size1,500 SF
Price / SF$14.40
Days on Market9
Property Features for 615 W Kirkwood Avenue
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Commercial
Additional Details
HOA Fee
$100
Utilities to Site
Yes
Tenant in Place
Yes
Property Use
Office
Amenities
certified kitchen
grease trap
front porch
rear deck
ample parking in the back
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Bloomington Residential and Commercial
Listed By:
Thomas Gallagher · License #RB1406236
(812) 322-7676
Source:
Jmrealtyonline
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 3:12PM
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 Bloomington Residential and Commercial
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Investment Insights
Based on property information with market context.
Built in 1910, this approximately 1,500-square-foot house has previously served as retail and office space. A certified kitchen and grease trap support food-related operations, while the large front porch and rear deck add usable exterior areas. Parking is available at the back of the property.
The property is on W Kirkwood Avenue in Bloomington’s West Kirkwood Historic area, four blocks west of the courthouse and two blocks west of Rogers. It is also within the Bloomington Entertainment and Arts District and Bloomington Urban Enterprise Zone.
The property is on W Kirkwood Avenue in Bloomington’s West Kirkwood Historic area, four blocks west of the courthouse and two blocks west of Rogers. It is also within the Bloomington Entertainment and Arts District and Bloomington Urban Enterprise Zone.
Key Highlights
- 1910 construction; approximately 1,500 square feet
- Certified kitchen and grease trap
- Previously used for retail and office purposes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,870
Suggested Prices Based on Cap Rates
Cap Rate 5%
$257,400
$257.4K
Cap Rate 7%
$183,857
$183.9K
Cap Rate 9%
$143,000
$143.0K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$23.4K $15.60/SF
− Vacancy
−$2.8K −$1.87/SF
EGI
$20.6K $13.73/SF
− OpEx
−$7.7K −$5.15/SF
NOI
$12.9K $8.58/SF
Area
Monroe County, IN
Vacancy
12.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$257,400
Cap Rate 7%
$183,857
Cap Rate 9%
$143,000
Alternative Uses
Best Use
Retail
$287.4K
$251.5K – $335.3K
NOI $20,116 @ 7.0% cap · market cap 93.13%
Second Best
Mixed Use
$183.9K
$160.9K – $214.5K
NOI $12,870 @ 7.0% cap · market cap 59.58%
Theoretical Best
Office A
$293.2K
$256.5K – $342.0K
NOI $20,521 @ 7.0% cap · market cap 95.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,638
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
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A historic house configured for retail or office use includes a rear deck and parking behind the building.
Where is this mixed-use property located?
The property is located at 615 W Kirkwood Avenue Bloomington, IN.
What are key features of this property?
This property features: 1910 construction; approximately 1,500 square feet; Certified kitchen and grease trap; Previously used for retail and office purposes
