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    1505 17Th St Bloomington, IN 47404

    Sponsored
    For Sale
    $525,000

    Prime Bloomington location, redevelopment potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Exceptional opportunity to acquire approximately five acres of land situated at 1505 W 17th St, Bloomington, Indiana, 47404. This multifamily property, identified by APN 53-05-32-201-121.008-005, presents significant redevelopment potential. Currently zoned R-2 within city limits, the land boasts convenient access to key Bloomington amenities. It's just minutes away from Indiana University's Memorial Stadium, the downtown square, and Interstate 69, ensuring high visibility and accessibility. The property includes a recently renovated, century-old home currently operating as a short-term rental. Utilities include city water and septic, with city sewer readily available at the street. This offering presents a rare chance to capitalize on a prime location and create a substantial return on investment. The asking price for this exceptional property is $525,000. Don't miss this chance to acquire this significant piece of Bloomington real estate.

    Property Features for 1505 17Th St

    General Information

    Property type
    Multifamily properties
    Lot Size
    217,800 SF

    HighLights

    • Prime 5‑acre development site on W 17th St, Bloomington, IN.
    • Excellent location near IU Memorial Stadium, downtown, and I‑69.
    • R‑2 zoning allows for redevelopment opportunities.
    • Features a renovated 100+-year‑old home currently operating as a short‑term rental.
    • City water and septic; city sewer readily accessible.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dormitories

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    Monroe
    State
    Indiana
    Longitude
    -86.5510542
    Latitude
    39.178442

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    FAQs

    What type of property is this?
    Multifamily property - Prime Bloomington location, redevelopment potential.
    Where is this multifamily property located?
    The property is located at 1505 17Th St Bloomington, IN.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: Prime 5-acre development site on W 17th St, Bloomington, IN.; Excellent location near IU Memorial Stadium, downtown, and I-69.; R-2 zoning allows for redevelopment opportunities.
    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
    1505 17Th St Bloomington, IN 47404
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