822 1St StBloomington, IN 47403

Property Details for 822 1St St

Year built

1976

Construction

WOOD

Lot size

1.08 AC

Property size (Sq ft)

10,440 SF

Property type

Medical offices

Property subtype

Medical centers

APN

53-08-05-100-142.000-009

APU

530805100142000009

Description

This exceptional two-story, Class B office building, totaling 10,440 square feet, presents a unique opportunity in the desirable medical district. Located at 822 W. 1st St., and conveniently situated near W. 1st St., this property boasts eight individual suites, perfect for a variety of medical or professional practices. Currently, 5,200 square feet of space is available, with a minimum divisible space of 1,200 square feet and a maximum contiguous space of 5,200 square feet. Each suite offers approximately 1,000-1,300 square feet and includes desirable features such as a waiting/reception area, a naturally lit conference room, a private office with its own restroom, a kitchenette, multiple offices or exam rooms, ample storage, and a public restroom. The building is handicap accessible and provides convenient parking for tenants and clients. The property sits on a one-acre lot (APN: 53-08-05-100-142.000-009) and includes 50 parking spaces. Built in 1976, the building is zoned for medical use. Monthly rent ranges from $1,200 to $1,400, plus utilities and a $275 NNN fee. This is an excellent opportunity to establish or expand your practice in a thriving medical environment. Don't miss this chance to secure your ideal office space.

• CAP approach

  CAP return

  Valuation

  6%

  $1,459,530

  6.5%

  $1,347,260

  7%

  $1,251,030

• Comparable approach

  Method

  Valuation

  Relative Method

  $898,675

  Geo Method

  $898,675

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,988,580

  Retail / Commercial

  $1,466,730

  Mixed-Use / Specialty

  $1,409,640

  Hospitality / Lodging

  $966,698

  Institutional / Educational

  $1,446,930

  Residential Income

  $1,692,910

  Multifamily

  $2,317,850

  Automotive / Energy

  $1,240,220

  Parking / Income-Based Land

  $479,217

  Restaurant / Food Service

  $622,500

  Healthcare / Senior Housing

  $1,498,740

Location Insight

City

Bloomington

County

Monroe

State

Indiana

Latitude

39.1597

Longitude

-86.543

CBSA code

14020

CBSA name

BLOOMINGTON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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