South Westplex Industrial

The DiSalvo | Bender | Nulf Group of Marcus & Millichap is pleased to present to market for sale the South Westplex Industrial Building – a fully occupied 9,550 square foot, multi-tenant industrial building located in Bloomington, Indiana. Located at 200 S Westplex Ave, the subject property is one of the unique industrial buildings that was built in the 1990’s that has been extremely well maintained and updated in recent years. Due to its location and demand for this product in the area, the subject property is currently fully occupied by a diverse mix of professional users. With Industrial vacancy rates at just 2% in the Bloomington submarket, the subject property has followed the market trend as 2 new leases have already been signed in 2024. With a strong in place cashflow, the subject property provides a unique opportunity for investors to acquire a stable asset with the potential to increase investor yield through lease conversion, and rental rate upside.
South Westplex Industrial, located in the Bloomington MSA, has a reported population of 176,537 residents in the 2022 census, up approximately 10.3 percent from 2010. The subject property is positioned as a community-serving Class B flex building located in the historic town of Bloomington.
The city of Bloomington, home to Indiana University, is currently the second largest college in Indiana based on enrollment. Indiana University’s Kelley School of Business is currently ranked in the top 10 business schools in the nation and has been a key piece in this historic university’s elite status.
South Westplex Industrial is one of the few buildings in the area that couples the immediate access to downtown Bloomington with on-site parking and three 10x12 drive in doors. The subject property is situated on roughly half an acre with easy ingress and egress. South Westplex industrial is situated along 3rd street / I69 South – a densely populated commercial highway that sees approximately 36,000 VPD. Within minutes, the property can access immediate major roadways in U.S. Route 42 as well as I-70. The subject property is located just 2 miles west of Indiana University, which has an enrollment of over 47,000 students.
Why South Westpex Industrial?
With a stable in place cash flow secured by a strong mix of professional users whose recent lease-up show a consistent demand for the location, South Westplex Industrial is a rare opportunity for an investor to capitalize on strong very stable cash flow with upside potential in short term rent increases and replaceable, below market rents. With the strong industrial fundamentals, low vacancy rates, and recent lease up, the property has continued to show strong growth, which should continue to for a new investor.