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    FOR SALE
    Office buildings

    4638 E State Road 45, Bloomington, IN 47408

    4,302 SF 0.89 ac lot Built 1928
    Entity Owned 4-yr Hold Free & Clear
    Property ID
    US31-0952057
    No photos on file
    For Sale
    $735,000 4,302 SF
    4638 E State Road 45, Bloomington, IN 47408
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    Property summary
    AI-generated overview

    This office building, previously the Poplar Grove School, provides over 4,300 square feet of space across two levels. The interior features renovations, including updated paint and carpet. Each level includes restrooms and a kitchenette. The layout comprises 10 office spaces, an open common area, and storage. The first level features a larger open area with original hardwood floors and over 50 windows, providing natural light. The property is situated on just over 1.05 acres and includes more than 25 parking spots. Zoned Limited Business (LB), the property is suitable for a variety of uses including daycare, office space, retail, studio/gallery space, massage therapy, music therapy, counseling, real estate, freelance work, law firms, and insurance. The property is located on the east side of Bloomington, Indiana, near Indiana University and the IU Health Bloomington Hospital. The living area is 2151 square feet. The building is designed to be divisible.

    Property profile
    Verified
    Property type Office buildings
    Use group OFFICE (GENERAL)
    Year built 1928
    Construction WOOD
    Total area 4,302 SF
    Lot 0.89 ac (38,768 SF)
    APN 53-05-36-200-017.000-004
    UPID US31-0952057
    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
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    by Request
    CAP Approach CAP
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    Comparable Approach Comparable
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    Blend (final) Blend
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    Owner & transaction history
    Gardenia Properties LLC · 4 yrs held
    Gardenia Properties LLC
    since 2022
    Last sale
    $440,000
    3 recorded transactions
    2022
    2022
    $440,000
    2008
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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