Office Building with Private
For Sale
$899,900
807 N College Ave, Bloomington, IN 47404
Two finished levels support adaptable professional, medical, and multi-tenant office configurations near downtown Bloomington.
Property Size2,146 SF
Price / SF$419.34
Days on Market52
Property Features for 807 N College Ave
General Information
Standard status
Active
Size
2,146 SF
Total Parking Spaces
13
Building Details
Year Built
1994
Buildings
1
Listing Agency:
Keller Williams - Indy Metro South LLC
Listed By:
Micah Heath · License #RB23001214
(812) 760-0083
Source:
Callcriswell
Added: Aug 23
Changed: Oct 11
Last Checked: Oct 7 at 2:46PM
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 Keller Williams - Indy Metro South LLC
Investment Insights
Based on property information with market context.
This 1994 office building includes two finished levels with multiple offices, meeting rooms, reception areas, and restrooms. Approximately 1,100 SF of unfinished lower-level space provides additional storage or future build-out capacity. Several interior walls are non-structural, allowing the floor plan to be reconfigured for professional office, medical, behavioral health, wellness, counseling, legal, accounting, educational, nonprofit, executive-suite, coworking, or mixed professional occupancy.
The property is located at 807 N. College Avenue in Bloomington, near Downtown Bloomington, Indiana University, and the city's north side. A private parking lot accommodates approximately 12–13 spaces. Building improvements include a membrane roof, HVAC replacement, water heater work, and updated backflow valves completed in accordance with new city ordinances.
The property is located at 807 N. College Avenue in Bloomington, near Downtown Bloomington, Indiana University, and the city's north side. A private parking lot accommodates approximately 12–13 spaces. Building improvements include a membrane roof, HVAC replacement, water heater work, and updated backflow valves completed in accordance with new city ordinances.
Key Highlights
- Two finished levels with offices, meeting rooms, reception areas, and restrooms
- Approximately 1,100 SF of unfinished lower‑level space
- Private parking lot with approximately 12–13 spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,441
Cap Rate
2.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,820
$528.8K
Cap Rate 7%
$377,729
$377.7K
Cap Rate 9%
$293,789
$293.8K
Market Conditions
NOI Build-Up for 2,146 SF
Gross rent
$47.6K $22.20/SF
− Vacancy
−$3.6K −$1.67/SF
EGI
$44.1K $20.54/SF
− OpEx
−$17.6K −$8.21/SF
NOI
$26.4K $12.32/SF
Area
Monroe County, IN
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,820
Cap Rate 7%
$377,729
Cap Rate 9%
$293,789
Alternative Uses
Best Use
Healthcare Medical
$377.7K
$330.5K – $440.7K
NOI $26,441 @ 7.0% cap · market cap 2.94%
Second Best
Office B
$329.2K
$288.1K – $384.1K
NOI $23,045 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$419.4K
$367.0K – $489.3K
NOI $29,359 @ 7.0% cap · market cap 3.26%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,987
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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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Two finished levels support adaptable professional, medical, and multi-tenant office configurations near downtown Bloomington.
Where is this office building located?
The property is located at 807 N College Ave Bloomington, IN.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Two finished levels with offices, meeting rooms, reception areas, and restrooms; Approximately 1,100 SF of unfinished lower‑level space; Private parking lot with approximately 12–13 spaces
