Princess Theatre | 206 N Walnut St
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Princess Theatre 206 N Walnut St
7,440 SF 32% Leased Retail Building Bloomington, IN 47404 $1,500,000 ($202/SF)
Executive Summary
Opportunity to acquire the historic Princess Theatre, located at 206 N Walnut Street in the heart of downtown Bloomington. Just steps from Indiana University, this iconic property is rich in history and has been a beloved fixture in the community, previously home to several Bloomington restaurant and bars. This offering is a perfect opportunity for an owner-user to purchase a fully built-out restaurant space with the added benefit of consistent income from the apartment units above.
• Commercial Space: 5,047 SF of commercial space, previously operated as a restaurant/bar with full commercial kitchen, private event room, bar seating, and manager’s office.
• Multifamily Apartments: 3 fully occupied apartments on the upper level that currently generate $5,500/month in rental income.
• FFE & ATC Permit: Furniture, Fixtures, & Equipment (FF&E) from previous restaurant operation and Airbnb unit as well as a 3-way ATC permit available with Princess Theatre.
• Commercial Space: 5,047 SF of commercial space, previously operated as a restaurant/bar with full commercial kitchen, private event room, bar seating, and manager’s office.
• Multifamily Apartments: 3 fully occupied apartments on the upper level that currently generate $5,500/month in rental income.
• FFE & ATC Permit: Furniture, Fixtures, & Equipment (FF&E) from previous restaurant operation and Airbnb unit as well as a 3-way ATC permit available with Princess Theatre.
Data Room Click Here to Access
- Operating and Financials
- Miscellaneous
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
7,440 SF
Building Class
B
Year Built/Renovated
1892/2017
Price
$1,500,000
Price Per SF
$202
Percent Leased
32%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.44
Lot Size
0.07 AC
Opportunity Zone
Yes
Zoning
MD-CS - Commercial
Parking
3 Spaces (0.4 Spaces per 1,000 SF Leased)
Frontage
37 FT on North Walnut Street
Amenities
- Air Conditioning
Walk Score ®
Walker's Paradise (92)
Bike Score ®
Very Bikeable (76)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 53-05-33-310-095.000-005 | Improvements Assessment | $982,700 |
| Land Assessment | $130,700 | Total Assessment | $1,113,400 |
PROPERTY TAXES
Parcel Number
53-05-33-310-095.000-005
Land Assessment
$130,700
Improvements Assessment
$982,700
Total Assessment
$1,113,400
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Princess Theatre | 206 N Walnut St
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