Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1900 3Rd St Bloomington, IN 47404

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    1,768 sq ft office, 1.86 acres

    Property size:
    1,768 SF

    Property Features for 1900 3Rd St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    1,768 SF
    Lot Size
    81,022 SF

    Building Details

    Year Built
    1987
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Jim Regester
    Jim Regester

    Listing Agency: RE/MAX Realty Professionals Listing Agent: Jim Regester

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Exceptional investment opportunity in Bloomington, Indiana! This property encompasses two parcels totaling 1.86 acres of Mixed Use (MC) zoned land on West 3rd Street, situated between the signalized intersections of Landmark and Cory Lane. The main building offers 1,768 square feet of versatile office space, featuring eight private offices and a spacious reception area. Ideal for a variety of uses, including office space, retail, or contractor services. The generous zoning even allows for a drive-thru restaurant. Built in 1987, this single-story building sits on a 0.876-acre lot. An additional 0.984-acre vacant lot is included, providing significant expansion potential. The property's prime location and flexible zoning make it an attractive proposition for investors seeking a strong return. Asking price is $675,000. The address is 1900 & 1906 W 3rd St, Bloomington, IN 47404.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    Monroe
    State
    Indiana
    Longitude
    -86.5587659
    Latitude
    39.1649042

    Nearby Similar for Sale

    • $285,000
      4.62 Acres

      Bloomington Duplex on Large Lot

      Duplex on nearly 5 acres ready for immediate possession.
      8121 N Fox Hollow Rd, Bloomington, IN 47408
      View Details
    • $799,000
      1,797 SF

      Landmark Property with I-69 Visibility

      Unique mixed-use property with retail, warehouse, and residential spaces.
      8300 N Wayport Rd, Bloomington, IN 47408
      View Details
    • $515,000
      3,430 SF

      Bloomington Fourplex with Strong Rental History

      Well-maintained fourplex near IU with stable income.
      775 N Smith Rd, Bloomington, IN 47408
      View Details
    • $625,000
      10,000 SF

      Versatile Building on 5.33 Acres

      Spacious building suitable for various uses near Bloomington's east side.
      3372 E Moffett Ln, Bloomington, IN 47401
      View Details
    • $1,500,000
      0.20 Acres

      Mixed-Use Buildings in Downtown Bloomington

      Two buildings totaling 8,808 SF on 0.2 acres.
      322 W 3Rd St, Bloomington, IN 47404
      View Details
    • $925,000
      0.17 Acres

      Mixed-Use Property with Private Parking

      Versatile Bloomington property near downtown, Indiana University, with parking.
      807 N College Ave, Bloomington, IN 47404
      View Details
    • $995,000
      0.12 Acres

      Two-Story Office Building with Apartment

      Two-story office building with apartment near the mall.
      515 S Woodscrest Dr, Bloomington, IN 47401
      View Details
    • $420,000
      1,676 SF

      Bloomington Triplex Near Switchyard Park

      Well-maintained triplex in vibrant McDoel Gardens neighborhood.
      1101 S Rogers St, Bloomington, IN 47403
      View Details
    • $1,300,000
      17,580 SF

      Versatile Warehouse/Office Building in Bloomington

      High-quality warehouse and office space suitable for various business uses.
      1499 W Bloomfield Rd, Bloomington, IN 47403
      View Details
    • $1,999,000
      9,880 SF

      Modern Flex Space in Bloomington

      Modern commercial building with office, warehouse, and garage space.
      2110 N Angelina Ln, Bloomington, IN 47404
      View Details
    • $299,900
      4,000 SF

      Multifunctional Condo Office Space

      Office space near downtown Bloomington, Indiana University, and I69.
      640 S Walker St, Bloomington, IN 47403
      View Details
    • $3,000,000
      0.40 Acres

      Restaurant/Bar Opportunity in Bloomington, IN

      Restaurant/Bar with parking and open garage/warehouse space in Bloomington.
      409 S Walnut St, Bloomington, IN 47401
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - 1,768 sq ft office, 1.86 acres
    Where is this office property / space located?
    The property is located at 1900 3Rd St Bloomington, IN.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: $675,000 asking price for a 1,768 sq ft office building.; 1.86-acre lot size in Bloomington, Indiana.; Property includes a 1,768 sq ft office building and an adjacent vacant lot.
    (812) 323-1231 Call to check price and availability
    Request Owner's contact information
    1900 3Rd St Bloomington, IN 47404
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1900 3Rd St
    Bloomington, IN 47404
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1900 3Rd St Bloomington, IN 47404
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jim Regester
    Jim Regester
    Real Estate License ID: RB14012351
    (812) 323-1231
    Learn more
    Google sign-in failed. Please try again or use another login method.