Catylist ID:
#30748112
| Catylist Listing ID: | 30748112 |
| Property Subtypes: | Free-Standing Building, Mixed Use, Retail-Pad |
| Building Status: | Proposed |
| Building Size (RSF): | 4,792 SF |
| Gross Land Area: | 0.11 Acres |
| Sale Price: | $275,000 |
| Unit Price: | $57.39 PSF |
| Property Use Type: | Investment, Vacant/Owner-User, Business |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 5/3/2023 |
Overview / Comments
|
The Renwick Village Center is the cornerstone of the Renwick community at the Southeast corner of Moores Pike and Sare Road. Renwick consists of 361 dwelling units. The Village Center itself consists of three primary concepts: 1. The Terraces of Renwick The Terraces feature 22 townhomes each with outdoor private living space and attached two-car garages. 2. The City Flats at Renwick The City Flats at Renwick is a multi family development consists of 103 dwelling units. Product consists of one, two and three bedroom units with parking underneath the buildings. Amenities include swimming pool, fitness center, internet café, and access to bike and pedestrian trails. 3. Renwick Village Center Commercial The Commercial component Village Center is a stunning commercial destination including retail, office and residential uses. As the cornerstone of The Renwick community, The Village Center offers a unique opportunity of ownership for commercial buildings as well as leasing for professional office, retail, or possibly mixed use residential / commercial uses. C-1: Location will accommodate a building footprint of approximately 3,500 square feet in a single story design. A build to suit for an Owner of Tenant is available! The concept shown is 3,200 SF single level. Plus 110 Common Area Parking Spaces on Site! |
Additional Details
| Nearest MSA: | Bloomington |
| County: | Monroe |
| Tax ID/APN: | 53-08-10-111-002.200-009 |
| Retail Clientele: | General, Business |
| Property Visibility: | Excellent |
| Highway Access: | TRANSPORTATION/ACCESSIBILITY: It is important to note Sare Road/College Mall Road (11,500 ADT) and Moores Pike (14,000 ADT) is a signalized intersection that supports a major flow of commuter traffic to and from Indiana University and other places of employment. The Village Center has four entrances Rock Creek Drive from the south and Queensway from the west via roundabout on Moores Pike the other directly from Sare Road. Sare road will be widened to accommodate left turns and right turns into the site. 69.9% of the market area drives to work, 3.4% work at home and the average travel time to work is 16 minutes, compared to the US average of 25 minutes. Approximate travel times to major midwestern cities from the site Indianapolis 45 minutes via I-69, Chicago 4 hours, Cincinnati 3.5 hours Louisville, 2.3 hours, Nashville 5 hours and St. Louis 5 hours. |
| Site Description: | Renwick Village Center Commercial: The Commercial component Village Center is a stunning commercial destination including retail, office and residential mixed uses. As the cornerstone of The Renwick community, The Village Center offers a unique opportunity of ownership for commercial buildings as well as leasing for professional, retail, mixed use residential / commercial uses. |
| Area Description: | Bloomington is Indiana’s seventh-largest incorporated metropolitan area, a position it has held for several years among the state's cities. The education level is substantially higher than state or national averages, reflecting the presence of Indiana University, a robust state university, and numerous scientific, technical and professional establishments. Of all Monroe County adults over age 25, 40% have a BA or higher degree, ranking the county second in Indiana and placing it in the top 2% of all counties in the nation. |
| Total Number of Buildings: | 7 |
| Number of Stories: | 2 |
| Typical SF / Floor: | 2,500 SF |
| Property Condition: | Excellent |
| Roof Type: | Flat |
| Construction/Siding: | Block, Brick |
| Total Parking Spaces: | 110 |
| Parking Type: | Surface |
| Sprinklers: | Wet |
| Heat Type: | Electricity |
| Heat Source: | Central |
| Air Conditioning: | Engineered System |
| Internet Access: | Cable, Satellite |
| Interior Description: | Proposed to be built to a vanilla shell. |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Legal Description: | 015-26693-00 Renwick Phase 3 Section 1 Lot 200 |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 11,786 | 82,689 | 99,949 |
| Median Age: | 33.87 | 28.51 | 29.94 |
| Households: | 5,267 | 31,941 | 39,419 |
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