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    Historic Schoolhouse Office Space
    Updated: Feb 5
    Historic Schoolhouse Office Space

    4638 E State Road 45, Bloomington, IN 47408

    $735,000
    4,302 sqft 1.05 AC lot
    Approximately 4,302 SF split‑level office layout with 10 office spaces
    Restrooms and a kitchenette on each level plus open common area and storage
    Just over 1.05 acres with off‑street parking for more than 25 vehicles
    Over 50 brand new windows and original hardwood floors in the larger first‑level open area
    Zoned Limited Business (LB) for a variety of business uses
    View details

    This listing looks promising.

    Here's a quick look at some key insights for

    4638 E State Road 45, Bloomington, IN 47408

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    • Est. Cap Rate

      6.3%
      Above avg (5.9%)

    • Est. NOI

      $46K
      Annual

    • Price @ 7% Cap

      $660K
      Suggested

    • Last Sold

      Jun 2022
      $440K

    • Property Type

      Commercial Office (General)
      Built 1928
    View Property Analytics
    Based on your search, we've compiled 24 Potential Opportunities for your consideration. Besides 1 Active listings in Bloomington, IN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 18 Off-Market properties to explore as potential leads, plus 1 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    GracePoint Baptist Church
    GracePoint Baptist Church

    5415 Valley Station Rd, Louisville, KY 40272

    $3,999,000
    53,000 sqft 8.58 AC lot

    Great Opportunity for A Recently Renovated Church/School Facility with Gym

    View details
    GracePoint Baptist Church
    GracePoint Baptist Church

    5415 Valley Station Rd, Louisville, KY 40272

    $3,999,000
    53,000 sqft 8.58 AC lot

    Great Opportunity for A Recently Renovated Church/School Facility with Gym

    View details
    Freestanding C-3 Church or School Facility
    Freestanding C-3 Church or School Facility

    11965 Allisonville RD, Fishers, IN 46038

    Contact for pricing
    15,320 sqft 3.45 AC lot

    Single-story freestanding building on 3.45 acres, zoned C-3 and built in 1984 with renovation in 2010.

    View details
    Allisonville Road Freestanding Building
    Allisonville Road Freestanding Building

    11965 Allisonville Rd, Fishers, IN 46038

    Contact for pricing
    15,320 sqft 3.45 AC lot

    Freestanding building suitable for school, church, daycare, or medical conversion.

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Bloomington Commercial Land Opportunity
    Bloomington Commercial Land Opportunity

    S Rockport Road, Bloomington, IN 47403

    $285,000
    6.34 AC lot

    6.34 acres of commercial land zoned for various uses.

    View details

    Off-Market Properties in Bloomington, IN

    Consider similar Off-Market properties in Bloomington, IN. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    Rose Ave
    COLLEGE, UNIVERSITY, VOC SCHOOL

    Rose Ave, Bloomington, IN 47401

    $260,000
    Estimated value
    0.32 AC lot
    View details
    Rose Ave
    COLLEGE, UNIVERSITY, VOC SCHOOL

    Rose Ave, Bloomington, IN 47401

    $265,000
    Estimated value
    0.32 AC lot
    View details
    919 10th St
    COLLEGE, UNIVERSITY, VOC SCHOOL

    919 10th St, Bloomington, IN 47408-3912

    $370,000
    Estimated value
    0.88 AC lot
    View details
    Nn Un St
    COLLEGE, UNIVERSITY, VOC SCHOOL

    Nn Un St, Bloomington, IN 47408

    $270,000
    Estimated value
    0.25 AC lot
    View details
    900 14th St
    COLLEGE, UNIVERSITY, VOC SCHOOL

    900 14th St, Bloomington, IN 47408-2121

    $250,000
    Estimated value
    2,501 sqft 0.20 AC lot
    View details
    327 Jefferson St
    COLLEGE, UNIVERSITY, VOC SCHOOL

    327 Jefferson St, Bloomington, IN 47408

    $240,000
    Estimated value
    0.58 AC lot
    View details
    621 Indiana Ave
    COLLEGE, UNIVERSITY, VOC SCHOOL

    621 Indiana Ave, Bloomington, IN 47408-3651

    $265,000
    Estimated value
    0.09 AC lot
    View details
    1012 3rd St
    COLLEGE, UNIVERSITY, VOC SCHOOL

    1012 3rd St, Bloomington, IN 47406-1205

    $280,000
    Estimated value
    16,260 sqft 0.34 AC lot
    View details
    1801 10th St
    COLLEGE, UNIVERSITY, VOC SCHOOL

    1801 10th St, Bloomington, IN 47408-3971

    $460,000
    Estimated value
    15,420 sqft 1.11 AC lot
    View details
    1817 10th St
    COLLEGE, UNIVERSITY, VOC SCHOOL

    1817 10th St, Bloomington, IN 47408-3971

    $325,000
    Estimated value
    5,212 sqft 0.27 AC lot
    View details
    410 Park Ave
    COLLEGE, UNIVERSITY, VOC SCHOOL

    410 Park Ave, Bloomington, IN 47408-3828

    $290,000
    Estimated value
    2,160 sqft 0.15 AC lot
    View details
    510 Washington St
    COLLEGE, UNIVERSITY, VOC SCHOOL

    510 Washington St, Bloomington, IN 47401-4638

    $265,000
    Estimated value
    0.19 AC lot
    View details
    2280 Smith Rd
    COLLEGE, UNIVERSITY, VOC SCHOOL

    2280 Smith Rd, Bloomington, IN 47401-8920

    $245,000
    Estimated value
    0.47 AC lot
    View details
    414 Park Ave
    COLLEGE, UNIVERSITY, VOC SCHOOL

    414 Park Ave, Bloomington, IN 47408

    $280,000
    Estimated value
    0.16 AC lot
    View details
    Indiana Ave
    COLLEGE, UNIVERSITY, VOC SCHOOL

    Indiana Ave, Bloomington, IN 47404

    $255,000
    Estimated value
    0.09 AC lot
    View details
    Indiana Ave
    COLLEGE, UNIVERSITY, VOC SCHOOL

    Indiana Ave, Bloomington, IN 47404

    $300,000
    Estimated value
    0.31 AC lot
    View details
    Atwater Ave
    COLLEGE, UNIVERSITY, VOC SCHOOL

    Atwater Ave, Bloomington, IN 47401

    $215,000
    Estimated value
    View details
    Eagleson Ave
    COLLEGE, UNIVERSITY, VOC SCHOOL

    Eagleson Ave, Bloomington, IN 47404

    $250,000
    Estimated value
    0.25 AC lot
    View details

    Bloomington, IN Schools Market Trends and Statistics

    Explore 19 schools for sale in Bloomington, IN on our real estate platform. These investment opportunities span a total of 4,302 square feet of properties for sale, with an estimated market value of $735,000.

    Sale prices for school buildings & campuses in Bloomington, IN average $735,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    NNN properties 6
    Day care centers 1
    Schools 1

    Demographics Overview

    Population 129K
    Population Growth (5Y) +5.6%
    Median Household Income $60,732
    College Educated 52.2%

    High-Yield Neighborhoods for Investment

    Identify Bloomington submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    47408 $735K
    47404 $1.2M

    Taxes & Financing

    Tax Rate (average for all types) 1.09%
    Property Tax per SF $17.52 per SF
    Tax Rate vs County Average 0.08 pp above county avg
    Average Loan-to-Value 65.0%

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Monroe County

    Residential Income

    Property Size Breakdown

    The majority of commercial real estate listings in Bloomington fall within the 10,000 to 25,000 square foot range.

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    Featured Bloomington Real Estate Agencies

    Realmo connects you with licensed Bloomington CRE brokers providing property specifications, local market pricing, and commercial transaction underwriting support.

    Jason Millican Group
    3204 S Eden Drive Bloomington, IN 47401
    Phone: 13173729999
    jasonmillicangrp.com

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