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Versatile Property Near B-Line Trail

300 W 1st St Bloomington, IN 47403

300 W 1st St, Bloomington, IN, 47403
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Two-story, 6,120 SF property suitable for office or redevelopment.

Property Size6,120 SF
Lot Size0.57 Acres
Price / SF$257.35
AddedJul 11, 2022
Days on Market1466
Last RefreshMay 12 at 9:19 pm

Property Features for 300 W 1st St

General Information

Standard status
Active
Size
6,120 SF
Lot size
0.57 Acres
Property subtype
Office

Building Details

Year Built
1977

Listing office FC Tucker/Bloomington, REALTORS

Listing date Jul 11, 2022

Source Crexi

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


Investment Insights

Based on property information with market context.

This two-story property offers approximately 6,120 square feet of space on three parcels totaling about 0.57 acres. The property is suitable for office use or future redevelopment. It is located adjacent to the B-Line Trail and the Hopewell Development, providing access to downtown Bloomington, public transit, and a growing mixed-use area. The property has been rezoned to Mixed-Use Medium Scale (MM), which allows for 33 additional permitted uses. The building is suited for office users seeking walkability, visibility, and proximity to Bloomington’s civic and commercial core. Estimated annual taxes are approximately $14,698.

Key Highlights

  • Prime location adjacent to the B‑Line Trail and Hopewell Development, offering convenient access to downtown Bloomington and public transit.
  • Recently rezoned to Mixed‑Use Medium Scale (MM), allowing for 33 additional permitted uses and significant development flexibility.
  • Substantial ±6,120 square foot, two‑story building suitable for office use or redevelopment.

Local Financial Insights For Office B

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 $115.3k $18.84
− Vacancy −$27.7k −$4.52
EGI $87.6k $14.32
− OpEx −$21.9k −$3.58
NOI $65.7k $10.74
6,120 SF · lease $18.84/SF/yr · vacancy 24.00% · expense 25.00%

Alternative Uses

Best Use
Office B
$938.9K
$821.5K – $1.10M (±1% cap)
NOI $65,721 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M (±1% cap)
NOI $83,725 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Office buildings

Suggested Use

(Bike/Boat/Book/etc) Store Auto Parts Store (Bike/Boat/Book/etc) Store Locksmith Grocery & Convenience Store Pet Grooming Service (Bike/Boat/Book/etc) Store Storage Facility Butcher Electrical Service

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Office building - Two-story, 6,120 SF property suitable for office or redevelopment.
Where is this office building located?
The property is located at 300 W 1st St Bloomington, IN.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Prime location adjacent to the B‑Line Trail and Hopewell Development, offering convenient access to downtown Bloomington and public transit.; Recently rezoned to Mixed‑Use Medium Scale (MM), allowing for 33 additional permitted uses and significant development flexibility.; Substantial ±6,120 square foot, two‑story building suitable for office use or redevelopment.
Contact an agent
(812) 336-7300 Call to check price and availability
More about this property
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