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Property profile & analytics
OFF-MARKET
Office Spaces
1900 3rd St Bloomington, IN 47404-5209
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US31-0464495
Property summary
AI-generated overview
Exceptional investment opportunity in Bloomington, Indiana! This property encompasses two parcels totaling 1.86 acres of Mixed Use (MC) zoned land on West 3rd Street, situated between the signalized intersections of Landmark and Cory Lane. The main building offers 1,768 square feet of versatile office space, featuring eight private offices and a spacious reception area. Ideal for a variety of uses, including office space, retail, or contractor services. The generous zoning even allows for a drive-thru restaurant. Built in 1987, this single-story building sits on a 0.876-acre lot. An additional 0.984-acre vacant lot is included, providing significant expansion potential. The property's prime location and flexible zoning make it an attractive proposition for investors seeking a strong return. Asking price is $675,000. The address is 1900 & 1906 W 3rd St, Bloomington, IN 47404.
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1987
Construction
WOOD
Total area
1,768 SF
Lot
0.88 ac (38,159 SF)
APN
53-05-31-400-008.000-005
UPID
US31-0464495
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Mdj Properties LLC · 1 yrs held
Mdj Properties LLC
since 2025
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bloomington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bloomington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$5,932
Tax year 2023
Assessed value
$279,600
Assessed 2023
Previous assessed
$279,600
+0.0% YoY
Effective rate
2.12%
On assessed value
Assessed land
$175,200
Assessed improvement
$104,400
Land market value
$175,200
Improvement market value
$104,400
Total market value
$279,600
Applied tax rate
5.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1987
Construction
WOOD
Heating
NONE
Stories
1
Total area
1,768 SF
Lot
0.88 ac (38,159 SF)
APN
53-05-31-400-008.000-005
UPID
US31-0464495
Jurisdiction
MONROE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1987
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.88 ac
Current owner
From public records · entity-resolved
Mdj Properties LLC
Entity
Mailing address
4210 S DUNLAP RD, BLOOMINGTON, IN 47403-9315
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2025
—
Mdj Properties LLC
John F Gallien
Warranty Deed
$414,375 · Farmers And Mechanics Federal
Aug 24, 2007
—
City Of Bloomington
John F Gallien
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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