Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2613 3rd St Bloomington, IN 47401-5345

    • Retail space
    • 4,040 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Apr 09, 2020
    Value Estimations
    $555,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1180261
    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

    • Retail space

    Property Details for 2613 3rd St

    Year built
    1970
    Construction
    WOOD
    Lot size
    0.23 lot acres
    Property size
    4,040 SF
    Property type
    Retail space
    APN
    53-05-34-400-001.000-005
    APU
    530534400001000005

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $610,000
      Current use
      COMMERCIAL (GENERAL)
      $525,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    Monroe
    State
    Indiana
    Longitude
    -86.5
    Latitude
    39.1645
    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
    $7,355
    $155,300
    $191,400
    $346,700
    -
    $155,300
    $191,400
    $346,700

    Comparable in this City

    • Value Estimation by Request

      328 Walnut St

      RETAIL STORES (PERSONAL SERVICES)
      328 Walnut St, Bloomington, IN 47401-3507
      View Details
    • Value Estimation
      $2,820,000
      25,502 SF

      2849 Buick Cadillac Blvd

      RETAIL STORES (PERSONAL SERVICES) • 25,502 SF
      2849 Buick Cadillac Blvd, Bloomington, IN 47401-5441
      View Details
    • Value Estimation
      $1,500,000
      10,856 SF

      2701 3rd St

      RETAIL STORES (PERSONAL SERVICES) • 10,856 SF
      2701 3rd St, Bloomington, IN 47401-5433
      View Details
    • Value Estimation
      $670,000
      5,840 SF

      1202 Walnut St

      RETAIL STORES (PERSONAL SERVICES) • 5,840 SF
      1202 Walnut St, Bloomington, IN 47401-5818
      View Details
    • Value Estimation by Request
      3,246 SF

      2437 Walnut St Pike

      RETAIL STORES (PERSONAL SERVICES) • 3,246 SF
      2437 Walnut St Pike, Bloomington, IN 47401-8431
      View Details
    • Value Estimation
      $660,000
      6,281 SF

      1805 Walnut St

      RETAIL STORES (PERSONAL SERVICES) • 6,281 SF
      1805 Walnut St, Bloomington, IN 47401-6571
      View Details

    Similar Nearby for Sale

    • $3,000,000
      0.40 Acres

      Restaurant/Bar Opportunity in Bloomington, IN

      Restaurant/Bar with parking and open garage/warehouse space in Bloomington.
      409 S Walnut St, Bloomington, IN 47401
      View Details
    • Contact for pricing
      19,700 SF

      Retail Property in Bloomington, Indiana

      Retail property available for sale in Bloomington, Indiana.
      4023 West 3Rd St, Bloomington, IN 47401
      View Details
    • $2,775,000
      3.50 Acres

      Retail and Storage Investment Opportunity

      Established retail and storage center in Bloomington, fully leased.
      315 E Winslow Rd, Bloomington, IN 47401
      View Details
    • $2,100,000
      3.60 Acres

      Bloomington Warehouse with Storage Facility

      Storage facility with three buildings and secure fencing for sale.
      3401 E Cleve Butcher Rd, Bloomington, IN 47401
      View Details
    • $185,000
      2.51 Acres

      Residential Land in Freeman Fields

      Spacious lot near Bloomington, golf, and Lake Monroe recreation.
      2168 E Fox Ln, Bloomington, IN 47401
      View Details
    • $185,000
      2.50 Acres

      Residential Land Near Golf Club

      Spacious 2.5-acre residential lot near Bloomington and Lake Monroe.
      8651 S Alonzo Way, Bloomington, IN 47401
      View Details

    Similar Nearby for Lease

    • $1,589 /Mo
      1,015 SF

      Bloomington Commercial Space For Rent

      Commercial space near shopping and restaurants on Bloomington's east side.
      3101 E Covenanter Dr, Bloomington, IN 47401
      View Details
    • $1,975 /Mo
      2,000 SF

      Downtown Bloomington Office/Salon Space

      Class A space suitable for office, studio, or salon.
      328 S Walnut St, Bloomington, IN 47401
      View Details
    • Contact for pricing
      8,500 SF

      College Mall Road Retail Spaces

      Bloomington, IN retail spaces available.
      318 College Mall Rd, Bloomington, IN 47401
      View Details
    • Contact for pricing
      28,365 SF

      Bloomington Retail Space For Lease

      Grocery-anchored center near Indiana University and I-69.
      3175 W 3Rd St, Bloomington, IN 47401
      View Details
    • New
      $2,600 /Mo
      1,304 SF

      Prime Retail Space Near Courthouse

      Retail space for lease near the courthouse in Bloomington, Indiana.
      122 S College Ave, Bloomington, IN 47401
      View Details
    • Contact for pricing
      46,841 SF

      Prime Retail Anchor Opportunity

      46,841 SF anchor space near Indiana University.
      300 S College Mall Rd, Bloomington, IN 47401
      View Details
    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.
    2613 3rd St
    Bloomington, IN 47401-5345
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!