3707 3Rd St Bloomington, IN 47404
- Lifestyle centers
- 6,500 SF
- 1.00 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 3707 3Rd St
- Year built
- 1995
- Lot size
- 1.00 lot acres
- Property size
- 6,500 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
- APN
- 53-09-01-100-006.000-016
Description
This exceptional investment opportunity presents a 6,500-square-foot, Class A shopping center in Bloomington, Indiana, currently leased to Verizon Wireless under an absolute NNN lease. The property, located at 3707 W 3rd St, boasts a strong 6.54% cap rate and a substantial net operating income (NOI) of $114,440. Built in 1995 and renovated in 2011, this single-story building sits on a one-acre lot and is zoned MM by the City of Bloomington. The lease, commencing July 1, 2011, and expiring June 30, 2028, has a remaining term of approximately 3.6 years, providing immediate cash flow. The lease includes a 2% annual rent bump and a single 5-year option. The tenant, Cellular Sales of Knoxville, Inc., is the nation's largest authorized Verizon retailer, ensuring a high level of creditworthiness and operational stability. This property offers a secure, passive income stream with significant upside potential, making it an ideal addition to any diversified investment portfolio. The asking price is $1,750,000, translating to a price per square foot of $269.23. The property's location within the high barrier-to-entry westside Bloomington retail trade area further enhances its value and long-term prospects. The property's APN is 53-09-01-100-006.000-016. This is a 100% occupied, single-tenant investment with a long-term lease.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bloomington
- County
- Monroe
- State
- Indiana
- Longitude
- -86.5802326
- Latitude
- 39.1643144
