Princess Theatre 206 N Walnut St

206 N Walnut St , Bloomington, Indiana, 47404 | 7,133 sq.f | $ 1,500,000

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About This Restaurant

Investment Highlights

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.

Property Details

  • Sale Type    Investment or Owner User
  • Property Type    Retail
  • Property Subtype    Restaurant Restaurant General Retail Bar General Retail Storefront Retail/Residential Restaurant
  • Building Size    7,133
  • Year Built/Renovated    1892/2017
  • Price    1,500,000
  • Price Per SF    210
  • Percent Leased    29
  • Building Height    3 Stories
  • Building FAR    2.34
  • Land Acres    0.07 AC
  • Opportunity Zone    Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Nearby Amenities & Transportation

Retail Chase Bank
Retail Regions Bank
Retail Noodles & Company
Retail Five Guys
Retail 9round Fitness
Retail Old National Bank
Retail Starbucks
Retail Everbowl
Retail Kroger
Retail Jazzercise

Property Taxes

Parcel Number 53-05-33-310-095.000-005 Improvements Assessment $130,700
Land Assessment $982,700 Total Assessment $1,113,400
Date Created: 2024-07-16 04:13:40 Last Updated: 2024-07-16 04:13:40
Address: 206 N Walnut St , Bloomington, Indiana, 47404