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    700 College Ave Bloomington, IN 47403

    For Sale
    $4,299,000

    15,700 SF Medical Office, 100% Occupied

    Property size:
    15,700 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    Exceptional redevelopment opportunity in Bloomington, Indiana! This 15,700 square foot, fully occupied Class B medical office building presents a prime investment at $4,299,000 ($273.82/SF). Situated on a 1.12-acre lot zoned for Mixed-Use Downtown, the property offers significant potential for new construction. Its strategic location along the College/Walnut corridor, within a redevelopment study area, is highly advantageous. The property enjoys proximity to key amenities, including the 76-acre Hopewell Master Development (less than half a mile), the Monroe Convention Center (less than one mile), and Indiana University's campus (one mile). Adding to its appeal, it's adjacent to the B-Line Pedestrian Trail, enhancing accessibility. Built in 1994, this single-building, multi-tenant property offers a compelling blend of existing income and future development possibilities in a vibrant college town setting. This is a rare chance to acquire a high-traffic, well-located asset with substantial upside potential. The property's existing medical office use is 100% occupied.

    Property Features for 700 College Ave

    General Information

    Property type
    Medical offices
    Square Feet
    15,700 SF
    Class
    B
    Lot Size
    48,787 SF

    Building Details

    Year Built
    1994
    Buildings
    1

    HighLights

    • 15,700 SF Class B medical office building, fully occupied, on a 1.12‑acre lot.
    • $4,299,000 purchase price ($273.82/SF).
    • Mixed‑use downtown zoning.
    • Located on the College/Walnut corridor within a redevelopment study area.
    • Proximity to Hopewell Master Development, Monroe Convention Center, and Indiana University.
    • Adjacent to the B‑Line Pedestrian Trail.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    Monroe
    State
    Indiana
    Longitude
    -86.5356347
    Latitude
    39.1578533

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    FAQs

    What type of property is this?
    Medical office - 15,700 SF Medical Office, 100% Occupied
    Where is this medical office located?
    The property is located at 700 College Ave Bloomington, IN.
    What is the asking price?
    The asking price for this property is $4,299,000.
    What are key features of this property?
    This property features: 15,700 SF Class B medical office building, fully occupied, on a 1.12-acre lot.; $4,299,000 purchase price ($273.82/SF).; Mixed-use downtown zoning.
    Request Owner's contact information
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    Realmo Value Estimation

    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.

    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.

    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
    700 College Ave Bloomington, IN 47403
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