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    Property profile & analytics

    601 Morton St Bloomington, IN 47404

    • Commercial real estate
    • 21,240 SF
    • 0.38 lot acres
    For Lease
    View listing
    $20 SF/Yr
    Value Estimation
    $375,000
    Last Sale
    Dec 21, 2022
    $400,000
    Location Intelligence
    Property ID
    US31-2868211
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 601 Morton St

    Year built
    1950
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.38 lot acres
    Property size
    21,240 SF
    Property type
    Commercial real estate
    APN
    53-05-33-206-019.000-005
    APU
    530533206019000005

    Description

    This stunning three-story, 21,000-square-foot Class B office building, originally constructed in 1916 and extensively renovated in 2023, presents a unique leasing opportunity in Bloomington, Indiana. Located at 601 N Morton St, 47404, this single-tenant property offers 14,000 square feet of meticulously restored space, blending historic character with contemporary functionality. The building boasts exquisite original woodwork and flooring, preserved during the recent renovation. The main level features two executive offices, a conference room, several individual offices, and an open collaborative workspace, ideal for fostering teamwork and innovation. The second floor provides additional office space and a remarkable event room, originally designed to accommodate up to 900 guests for corporate events, dances, or film screenings. This versatile space offers significant potential for a variety of uses. While there are no elevators, the building's unique architectural details and prime location make it an exceptional opportunity for a discerning tenant seeking a prestigious and functional office space in the heart of Bloomington. The property is categorized as both Executive and Creative Office space.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $360,000

    • CAP approach

      CAP return
      Estimation
      6%
      $380,000
      6.5%
      $380,000
      7%
      $410,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $400,000
      Geo Method
      $400,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $340,000
      Retail
      $370,000
      Mixed-Use
      $355,000
      Hospitality
      $330,000
      Educational
      $360,000
      Residential Income
      $435,000
      Energy
      $410,000
      Income-Based Land
      $420,000
      Food Service
      $450,000

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    Monroe
    State
    Indiana
    Longitude
    -86.5364
    Latitude
    39.1719
    CBSA code
    14020
    CBSA name
    BLOOMINGTON, IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $13,187
    $496,600
    $125,000
    $621,600
    -
    $496,600
    $125,000
    $621,600

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    601 Morton St
    Bloomington, IN 47404
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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
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