Downtown Investment w/ 13 Year Lease

Office for Sale
Catylist Listing ID: 30811281
Property Subtypes: Governmental, Flex Space, Office Building
Building Size (RSF): 6,182 SF
Gross Building Area: See Agent
Gross Land Area: 4,365 SF
Sale Price: $1,100,000
Unit Price: $177.94 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/20/2022

Overview / Comments

Built in 1937, this historic building is the former office of Ed Applegate and was moved to W. 6th Street in 1995 to make room for the Monroe County Library on Kirkwood. This beautiful office building features copper gutters, split face limestone exterior, Vermont slate tile roof, and new landscaping. Currently leased through2035 by West Environmental Inc.. this is an ideal opportunity for an investment purchase or a 1031 exchange.

Additional Details

Nearest MSA: Bloomington
County: Monroe
Tax ID/APN: 53-05-32-413-031.000-005
Property Visibility: Good
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1968
Roof Type: Gable
Construction/Siding: Stone
Parking Type: Surface
Parking Description: One private spot for building. Remaining parking is public, paid street parking or near-by garages.
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Zoning Description: Mixed-Use Downtown
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 013-25790-02 ORIG PLAT S1/2 215

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,943 88,740 113,212
Median Age: 25.04 28.94 30.79
Households: 8,322 34,832 44,796
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