Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Bloomington Office or Retail Title is generated by Realmo AI

    405 S College Ave, Bloomington, IN 47403

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Prime location with signage and on-site parking available.

    Type:Retail, Office
    Added:
    Oct 28, 2024
    Days on Market:
    583
    Last Refresh:
    May 12 at 8:54 pm

    Property Features for 405 S College Ave

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office

    Spaces For Lease

    at 405 S College Ave Contact us

    Available Space 1 $13/Mo

    Size
    825 SF
    Type
    Retail, Office
    Prime location in downtown Bloomington, great for office or retail. Signage available...
    show more
    Contact us

    We can help!

    Listing Contact
    Larry Hughes

    Listing agent Larry Hughes License #RB14033235

    Listing office Tippmann Group

    Listing date Oct 28, 2024

    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 Tippmann Group

    HighLights

    • Prime downtown Bloomington location
    • Suitable for office or retail use
    • Signage available on building
    • On‑site parking available
    • Modified gross lease
    • Tenant pays utilities

    Overview

    Located in downtown Bloomington, this property is suitable for office or retail use. Signage is available on the building. On-site parking is provided. The lease is modified gross, with the tenant responsible for utilities.
    Location Intelligence

    Current Use by Public Records

    Office Spaces

    Suggested Use

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

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

    Similar Places Nearby

    • ProBleu Inc — 320 W 8th St #213, Bloomington, IN 47404
    • MRS Mobile Repair Service LLC, iphone Repair shop Bloomington Indiana — 700 S Walnut St, Bloomington, IN 47401
    • CPR Cell Phone Repair Bloomington — 102 N Grant St, Bloomington, IN 47408
    • Matrix Integration — 1225 S Walnut St, Bloomington, IN 47401

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    Monroe
    State
    Indiana
    Longitude
    -86.534534
    Latitude
    39.162194

    Nearby Similar for Lease

    • $7,500/Mo
      8,273 SF

      Downtown Bloomington Restaurant/Bar Opportunity

      8,300 SF restaurant/bar space in downtown Bloomington for lease.
      419 N Walnut Street, Bloomington, IN 47404
      View Details
    • $3,100/Mo
      2,380 SF

      Versatile Commercial Building on Kirkwood

      Flexible commercial building with open layout and walkout basement.
      1409 W Kirkwood Avenue, Bloomington, IN 47404
      View Details
    • $15 SF/Yr
      7,767 SF

      Buskirk-Showers Mansion Office Space

      Historic 7,767 SF office space in Bloomington, Indiana.
      520 N Walnut Street, Bloomington, IN 47404
      View Details
    • $14 SF/Yr
      1,270 SF

      Finished Office Space Available

      Finished office space with reception, offices, breakroom, and restroom.
      532 S College Avenue, Bloomington, IN 47403
      View Details
    • $3,000/Mo
      2,784 SF

      Downtown Retail Space For Rent

      Prime downtown location suitable for salon or retail business.
      300 E 3rd Street, Bloomington, IN 47401
      View Details
    • $2,600/Mo
      1,304 SF

      Prime Retail Space Near Courthouse

      Retail space for lease near the courthouse in Bloomington, Indiana.
      122 S College Avenue, Bloomington, IN 47401
      View Details
    • $3,000/Mo
      2,151 SF

      Charming Office Building with Parking

      Historical schoolhouse with modern amenities, suitable for various businesses.
      4638 E State Road 45, Bloomington, IN 47408
      View Details
    • $1,000/Mo
      863 SF

      Retail Space on Walnut Street

      Prime retail space in Bloomington with high visibility.
      1820 S Walnut Street, Bloomington, IN 47403
      View Details
    • $25 SF/Yr
      2,169 SF

      Restaurant/Bar Space with Drive-Thru

      Freestanding retail space with drive-thru in Bloomington, Indiana.
      535 S Walnut Street, Bloomington, IN 47401
      View Details
    • $10 SF/Yr
      2,300 SF

      Bloomington Flex Space with Warehouse

      Flex space with warehouse, offices, and climate-controlled storage.
      3802 W Industrial Blvd Unit #2, Bloomington, IN 47403
      View Details
    • $4,200/Mo
      5,651 SF

      Downtown Bloomington Commercial Space Available

      5,651 SF flex space near IU Campus and City Hall.
      633 N Morton Street, Bloomington, IN 47404
      View Details
    • $11 SF/Yr
      6,800 SF

      Bloomington Industrial Space For Lease

      6,800 SF industrial space in Robinson Industrial Park.
      5120 S Commercial Street, Bloomington, IN 47403
      View Details

    FAQs

    What type of property is this?
    Office space - Prime location with signage and on-site parking available.
    Where is this office space located?
    The property is located at 405 S College Ave Bloomington, IN.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: Prime downtown Bloomington location; Suitable for office or retail use; Signage available on building
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Larry Hughes
    Real Estate License ID: RB14033235
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    405 S College Ave, Bloomington, IN 47403
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!