Professional Office Building with Private
For Sale
$899,900
807 N College Avenue, Bloomington, IN 47404
COMMERCIAL - Bloomington, IN
Property Size4,292 SF
Lot Size0.17 Acres
Price / SF$209.67
Days on Market286
Property Features for 807 N College Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Lot features
City
Directions
From IN-45 N/IN-46 E, Go S on College Avenue. Go under railroad crossing and property is on the left. Park in back.
Subdivision
Monroe County
Standard status
Active
APN
53-05-33-204-045.000-005
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
013-33080-00 KENWOOD LOT 19 & PT (40'X 59') NW 33-9-1W .06A
Tax Annual Amount
8615
Legal Description
013-33080-00 KENWOOD LOT 19 & PT (40'X 59') NW 33-9-1W .06A
Utilities
Cooling system
Central Air
Building Details
Year built
1994
Flooring type
Laminate
Roof type
Rubber, Flat
Listing Agency:
Keller Williams - Indy Metro South LLC
(317) 882-5900
Listed By:
Micah Heath · License #RB23001214
(812) 760-0083
Added: Oct 20, 2025
Changed: Jul 6
Last Checked: Aug 1 at 7:06PM
MLS# 202542574
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.
This professional office building offers approximately 4,292 SF across two finished levels, with multiple offices, meeting rooms, reception areas, and restrooms. An additional approximately 1,100 SF of unfinished lower-level space provides room for future expansion, storage, or additional build-out. Several interior walls are described as non-structural, allowing for reconfiguration of the floor plan to accommodate changing office needs.
The property is located at 807 N. College Avenue in Bloomington, Indiana, minutes from Downtown Bloomington, Indiana University, and the city’s north side. A private parking lot with approximately 12–13 spaces is included, supporting on-site parking for occupants and visitors.
Recent building updates noted in the remarks include a membrane roof, HVAC replacement, water heater improvements, and updated back flow valves in accordance with new city ordinances.
The property is located at 807 N. College Avenue in Bloomington, Indiana, minutes from Downtown Bloomington, Indiana University, and the city’s north side. A private parking lot with approximately 12–13 spaces is included, supporting on-site parking for occupants and visitors.
Recent building updates noted in the remarks include a membrane roof, HVAC replacement, water heater improvements, and updated back flow valves in accordance with new city ordinances.
Key Highlights
- 4,292 SF commercial building built in 1994 with two finished levels for professional office and multi‑use setups
- Approx. 1,100 SF unfinished lower‑level space for expansion, storage, or future build‑out
- Private parking lot with approximately 12–13 spaces on‑site
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $95.3k | $22.20 |
| − Vacancy | −$7.1k | −$1.67 |
| EGI | $88.1k | $20.54 |
| − OpEx | −$35.3k | −$8.21 |
| NOI | $52.9k | $12.32 |
4,292 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$755.5K
$661.0K – $881.4K
NOI $52,882 @ 7.0% cap · market cap 5.88%
Second Best
Office B
$658.4K
$576.1K – $768.2K
NOI $46,091 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$838.8K
$734.0K – $978.6K
NOI $58,717 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
622
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two finished office levels with multiple rooms and reception, plus an unfinished lower level and private lot with 12–13 spaces.
Where is this office building located?
The property is located at 807 N College Avenue 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: 4,292 SF commercial building built in 1994 with two finished levels for professional office and multi‑use setups; Approx. 1,100 SF unfinished lower‑level space for expansion, storage, or future build‑out; Private parking lot with approximately 12–13 spaces on‑site
