206 Walnut St Bloomington, IN 47404

This exceptional mixed-use property, the historic Princess Theatre at 206 N Walnut St in Bloomington, Indiana, presents a unique owner-user opportunity. The building, constructed in 1892 and renovated multiple times (1913, 1923, 1987, 2017), boasts 7,440 square feet across three stories and sits on a prime downtown location, steps from Indiana University. The property includes 5,047 square feet of commercial space, previously configured as a fully operational restaurant and bar. This space features a complete commercial kitchen, a dedicated event room, bar seating, and a manager's office. Above the commercial space are three fully occupied apartment units, currently generating a monthly rental income of $5,500. The permitted zoning is MD-CS. The asking price is $1,200,000, with a price per square foot of $161.29. The property is available for occupancy on June 3, 2024. Furniture, fixtures, and equipment (FF&E) from the previous restaurant operation and Airbnb unit, along with a 3-way ATC permit, are available for an additional $275,000. This presents a rare chance to acquire a turn-key operation with immediate income potential in a vibrant, high-traffic area. The building consists of one structure with three stories.