Technical
Financial
Distress signals
Property profile

405 Patterson Dr Bloomington, IN 47403

OFF-MARKET
Retail space
Property ID
US31-3141724
19,650 SF 1 ac lot Built 2006
Entity Owned 7-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional investment opportunity presents a two-story, 19,650-square-foot retail property in Bloomington, Indiana, currently housing three tenants under a triple-net (NNN) lease. The building, situated at 405 W Patterson Dr, 47403, boasts a prime location on Bloomington's south side, offering convenient access to Switchyard Park, the vibrant downtown area, and the popular B-line Trail. Its proximity to Catalent Pharma Solutions further enhances its desirability. The property features two ground-floor restaurant spaces and a second-floor office space, all currently operating at 100% occupancy. The existing leases have a term of five years, providing immediate and consistent cash flow. The asking price is $2,650,000, translating to a price per square foot of $134.86. The property is zoned PUD and comprises one building with two stories. This multi-tenant retail investment offers a strong return on investment with its established tenants, desirable location, and stable lease structure. The property's size and diverse tenant mix make it an attractive asset for discerning investors seeking a secure and profitable addition to their portfolio. This is a rare opportunity to acquire a well-positioned, fully occupied commercial property in a thriving Indiana market.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 2006
Construction WOOD
Total area 19,650 SF
Lot 1 ac (43,560 SF)
APN 53-08-05-400-038.000-009
UPID US31-3141724

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

405 Patterson Dr Bloomington, IN 47403-4831
Bloomington metro Census 301 BLOOMINGTON, IN METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$4.06M
Comparable Approach Comparable
$3.45M
Blend (final) Blend
$3.14M

Owner & transaction history

since 2018
4 recorded transactions
2018
$2.1M
2014
Price N/A
2005
Price N/A
2005
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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