Property profile

4638 State Road 45 Bloomington, IN 47408

FOR SALE
Office buildings
Property ID
US31-0952057
4,302 SF 0.89 ac lot Built 1928
Entity Owned 4-yr Hold Free & Clear
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For Sale
$735,000 4,302 SF
4638 State Road 45, Bloomington, IN 47408
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Property summary

AI-generated overview

The Poplar Grove School is a historic, two-level schoolhouse building located on the east side of Bloomington near Indiana University and the IU Health Bloomington Hospital. The property contains over 4,300 square feet and includes two levels with restrooms and a kitchenette on each floor. The interior layout features 10 office spaces, an open common area, and storage; the first level includes a larger open area with original hardwood floors. The building has more than 50 windows that provide natural light, and it sits on just over 1.05 acres with more than 25 parking spaces. The property is zoned Limited Business (LB), supporting a range of uses such as daycare, office, retail, studio/gallery, massage therapy, music therapy, counseling, real estate, freelance work, law firms, and insurance. The building has interior finishes including freshly painted walls and new carpeting, and the configuration presents potential for reconfiguration, redevelopment, or transformation.

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

Location

4638 State Road 45 Bloomington, IN 47408
Bloomington metro Census 903 BLOOMINGTON, IN METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$390k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$355k

Owner & transaction history

since 2022
Last sale
$440,000
3 recorded transactions
2022
Price N/A
2022
$440,000
2008
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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