123 Franklin RdBloomington, IN 47404

Property Details for 123 Franklin Rd

Year built

1993

Construction

WOOD

Lot size

1.02 AC

Property size (Sq ft)

5,494 SF

Property type

Medical offices

Property subtype

Medical centers

APN

53-05-31-300-007.000-005

APU

530531300007000005

Description

This exceptional commercial property, situated at 123 S Franklin Road in Bloomington, Indiana, presents a compelling investment opportunity. The 5,494 square foot office building boasts a highly desirable location on the city's west side, offering excellent visibility and significant road frontage. The property's mixed-use zoning allows for versatility and future development potential. Extensive recent updates and renovations enhance the building's appeal and functionality. A substantial 30,000 square feet of paved site provides ample parking and maneuvering space. Currently, the building is fully leased to MedExpress under a triple-net lease agreement, ensuring a stable and predictable income stream. The lease has several years remaining, with options for extension, providing long-term financial security for the investor. The 1.02-acre lot offers room for expansion or future development, adding further value to this already impressive asset. This property is ideally suited for investors seeking a strong, established tenant and a prime location in a thriving Bloomington market. The combination of a stable lease, significant site improvements, and a desirable location makes this a truly exceptional investment opportunity. The asking price is $2,900,000.

• CAP approach

  CAP return

  Valuation

  6%

  $677,710

  6.5%

  $625,578

  7%

  $580,894

• Comparable approach

  Method

  Valuation

  Relative Method

  $472,924

  Geo Method

  $472,924

• Alternative Use

  Use

  Valuation

  Residential

  $775,717

  Hospitality

  $710,553

  Educational

  $591,172

  Medical

  $611,503

  Retail

  $919,600

Location Insight

City

Bloomington

County

Monroe

State

Indiana

Latitude

39.1653

Longitude

-86.5706

CBSA code

14020

CBSA name

BLOOMINGTON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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