Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    120 W 7Th St Bloomington, IN 47404
    Back to Search
    Property profile & analytics

    120 W 7Th St Bloomington, IN 47404

    View on Map
    • Office Spaces
    • 39,056 SF
    • 0.40 lot acres
    For Lease
    $1,131/Mo
    View Listing →
    Office Space with Fireplace For Lease
    $1,131/Mo
    591 SF

    Office Space with Fireplace

    Office space for rent featuring a fireplace and shared conference

    120 W 7th St, Bloomington, IN
    View Listing
    Property ID
    US31-0819661
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 120 W 7Th St

    Year built
    1924
    Construction
    STEEL FRAME
    Lot size
    0.40 lot acres
    Property size
    39,056 SF
    Property type
    Office Spaces
    APN
    53-05-33-310-352.000-005
    APU
    530533310352000005

    Description

    One City Centre, located at 120 W 7th St in Bloomington, Indiana, 47404, offers exceptional office space in a beautifully renovated historic building. Originally constructed in 1925 and extensively renovated in 1990, this four-story building boasts 5,073 square feet of total space. The property features a striking four-story atrium lobby with glass balconies, a significant upgrade from its original design as a windowless Masonic Temple. Currently, there are 3,624 square feet of vacant space available, divisible into units ranging from a minimum of 499 square feet to a maximum contiguous space of 1,095 square feet. Seven spaces are currently available for lease. The building includes elevators for convenient access to all floors. Its prime location within the Bloomington Courthouse Square Historic District offers unparalleled convenience, situated adjacent to the Justice Center and within easy walking distance of numerous downtown restaurants, shops, and other businesses. This property presents a unique opportunity to establish a presence in a vibrant and historic downtown setting. The building's blend of historical charm and modern amenities makes it an ideal location for a variety of businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,377,000
      Market price range: $2.38M - $6.57M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    Monroe
    State
    Indiana
    Longitude
    -86.5345
    Latitude
    39.1689
    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
    $14,404
    $522,700
    $835,200
    $1,357,900
    -
    $522,700
    $835,200
    $1,357,900

    Comparable in this City

    • Value Estimation
      $11,330,000
      192,156 SF

      320 8th St

      OFFICE (GENERAL) • 192,156 SF
      320 8th St, Bloomington, IN 47404-3748
      View Details
    • Value Estimation
      $1,940,000
      19,868 SF

      104 4th St

      OFFICE (GENERAL) • 19,868 SF
      104 4th St, Bloomington, IN 47404-5100
      View Details
    • Value Estimation
      $1,930,000
      19,788 SF

      214 7th St

      OFFICE (GENERAL) • 19,788 SF
      214 7th St, Bloomington, IN 47404-4939
      View Details
    • Value Estimation
      $6,345,000
      52,756 SF

      1025 Acuff Rd

      OFFICE (GENERAL) • 52,756 SF
      1025 Acuff Rd, Bloomington, IN 47404-9295
      View Details
    • Value Estimation
      $18,750,000
      192,156 SF

      501 Morton St

      OFFICE (GENERAL) • 192,156 SF
      501 Morton St, Bloomington, IN 47404-3746
      View Details
    • Value Estimation
      $3,970,000
      40,688 SF

      700 Parrish Rd

      OFFICE (GENERAL) • 40,688 SF
      700 Parrish Rd, Bloomington, IN 47404-1902
      View Details

    Similar Nearby for Sale

    • $179,000

      Finished Office with Conference Room

      Office condo with conference room, kitchenette, and clerical area.
      1602 W 3Rd St, Bloomington, IN 47404
      View Details
    • $2,900,000
      1.02 Acres

      Bloomington Office Building For Sale

      5,494 SF mixed-use office building with prime location and visibility.
      123 S Franklin Rd, Bloomington, IN 47404
      View Details
    • $899,900
      0.17 Acres

      Bloomington Mixed-Use Property with Parking

      Well-maintained mixed-use property near downtown with private parking.
      807 N College Ave, Bloomington, IN 47404
      View Details
    • $1,200,000
      0.90 Acres

      Bloomington Building for Education/Office Use

      7,140 SF building suitable for school, daycare, or office.
      525 W 17Th St, Bloomington, IN 47404
      View Details
    • Contact for pricing
      44,431 SF

      Bloomington Office Building For Sale

      Office building with 44,431 square feet in Bloomington.
      123 S Franklin Rd, Bloomington, IN 47404
      View Details
    • $204,900

      Bloomington Office Condo For Sale

      Highly visible office condo with flexible layout on W. 3rd.
      1602 W 3Rd St, Bloomington, IN 47404
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      8,000 SF

      Bloomington Retail/Office Space Available

      8000 SF retail or office space on West 3rd Street.
      3470 W 3Rd St, Bloomington, IN 47404
      View Details
    • Contact for pricing
      6,172 SF

      Downtown Bloomington Office Space Available

      6,172 SF office space in downtown Bloomington for lease.
      116 W 6Th St, Bloomington, IN 47404
      View Details
    • New
      $1,200 /Mo
      1,000 SF

      Victorian House with Commercial Zoning

      Renovated Victorian house suitable for retail, office, or restaurant.
      515 West Kirkwood Ave, Bloomington, IN 47404
      View Details
    • Contact for pricing

      Historic Downtown Retail and Office

      Renovated historic building offering retail and office spaces.
      205 N College Ave, Bloomington, IN 47404
      View Details
    • Contact for pricing

      Downtown Bloomington Office Space Available

      Prime office space for lease in historic downtown Bloomington.
      116 W 6Th St, Bloomington, IN 47404
      View Details
    • Contact for pricing

      Historic Office Building with Event Space

      Renovated 1916 building with executive offices and event space.
      601 N Morton St, Bloomington, IN 47404
      View Details
    View Listing
    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.
    120 W 7Th St
    Bloomington, IN 47404
    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
    120 W 7Th St, Bloomington, IN, 47404
    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!