Unique Downtown Redevelopment

Retail-Commercial for Sale
Catylist Listing ID: 30797838
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Retail-Pad, Service Station/Gas Station, Street Retail, Tavern/Bar/Nightclub, Other
Building Size (RSF): 4,080 SF
Gross Building Area: See Agent
Gross Land Area: 0.92 Acres
Sale Price: $3,500,000
Unit Price: $857.84 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/7/2022

Overview / Comments

Rare redevelopment opportunity on the north end of downtown Bloomington. Property features a Historic limestone train depot that is approximately 1,920SF +/-. The depot was most recently renovated for an upscale restaurant/bar. This building would make a great centerpiece for any future redevelopment. Adjacent to the historic structure is a 2-story, 1,250 SF +/- building that features a first floor commercial space with a Ā½ bath. Second level features a 1 BR private apartment which is currently leased. Building features an open deck and dedicated parking for tenants directly in front of space. At the entrance to the property sits a 950 SF wood frame building that currently houses a restaurant/bar. Ample parking available throughout the property. Property is .92 acres and zoned mixed-use downtown with a gateway overlay. This property is ideal for commercial redevelopment for a boutique hotel, short-term rentals, condominiums, etc.

Additional Details

Nearest MSA: Bloomington
County: Monroe
Tax ID/APN: 53-05-33-204-072.000-005
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention, Other
Property Visibility: Excellent
Largest Nearby Street: N. Walnut/S. College Ave
Tenancy: Multiple Tenants
Total Number of Buildings: 3
Number of Stories: 2
Property Condition: Average
Year Built: 1899
Roof Type: Other
Construction/Siding: Wood Siding
Parking Type: Surface
Parking Description: Private, paved lot
Sprinklers: None
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Zoning Description: Mixed-Use Downtown with a gate overlay
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Legal Description: 013-01720-00 KENWOOD PT LOTS 21 & 22 013-01730-00 KENWOOD PT LOT 22 013-01735-00 KENWOOD PT LOTS 21 & 22 013-01725-00 KENWOOD PT (E 71') LOT 27 013-02935-00 KENWOOD LOTS; PT LOTS 28, 29 & VAC ST

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 28,036 77,198 114,392
Median Age: 22.71 27.87 30.96
Households: 8,719 30,071 45,311
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