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229 W 1st St
10,000 SF of Retail Space Available in Bloomington, IN 47403
Highlights
- Fantastic Location directly on the B-Line in Bloomington CBD, Near Switchyard Park, Indiana University and Lake Monroe.
- Conceptually approved for a brew pub, which aligns with the growing arts and restaurant district in Bloomington.
- Historic industrial charm meets modern potential—ideal for creating an immersive experience for patrons.
- Built in 1922 as a bulk petroleum terminal for Standard Oil of Indiana, this industrial building retains significant historic charm.
- No Further Action Letter from the Indiana Department of Environmental Management, ensuring the property is in good environmental standing and ready fo
- The City of Bloomington's First Street Project is in our front yard and nearing completion.
Space Availability (1)
Display Rent as
- Space
- Size
- Term
- Rent
- Service Type
| Space | Size | Term | Rent | Service Type | ||
| 1st Floor | 10,000 SF | Negotiable | Upon Application Upon Application Upon Application Upon Application Upon Application Upon Application | TBD |
1st Floor
The Monroe Oil property is conceptually approved for a brew pub, which would be a natural fit given the area’s growing arts and restaurant district. Bloomington, home to Indiana University, is a vibrant city with a rich cultural and athletic scene. The site is centrally located, making it walkable to downtown, Switchyard Park, and large existing neighborhoods. Bloomington is undergoing a period of rapid growth, particularly in its arts and dining sectors. The Monroe Oil property, with its rich industrial history and expansive space, is in a prime location to take advantage of this growth. The property is available for conventional sale, un-subordinated land lease, or build-to-suit options. With the property already prepared with utilities and environmental clearances, it’s ready for immediate development. Bloomington’s vibrant, growing community is a perfect backdrop for a new, unforgettable venue. Whether you’re looking to create a brew pub, taproom, restaurant, or event venue this property offers a solid foundation for success in one of the city’s most promising areas.
- Space is an outparcel at this property
- Space In Need of Renovation
- Historical Charm and industrial architecture.
- Located on the B-Line heavy pedestrian traffic.
- Close to downtown and residential neighborhoods
- Fully serviced utilities, including 3-phase power.
- Over 10,000 square feet of usable interior space.
- Iconic property with limitless potential.
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing agent for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS FOR 229 W 1st St , Bloomington, IN 47403
| Property Type | Retail | Year Built/Renovated | 1922/2022 |
| Property Subtype | Restaurant | Parking Ratio | 3.6/1,000 SF |
| Gross Internal Area | 10,000 SF |
| Property Type | Retail |
| Property Subtype | Restaurant |
| Gross Internal Area | 10,000 SF |
| Year Built/Renovated | 1922/2022 |
| Parking Ratio | 3.6/1,000 SF |
About the Property
The Monroe Oil site in Bloomington, Indiana, is a unique and exciting opportunity to repurpose a historic industrial property for a new, vibrant purpose. Originally built in 1922 as a bulk petroleum terminal for Standard Oil of Indiana, this over 10,000-square-foot property retains significant historic charm and offers great potential for a variety of uses. The property is located directly on the B-Line Trail, just two blocks south of downtown Bloomington and three blocks north of Switchyard Park. It is also positioned near a major urban redevelopment zone—the Bloomington Hospital Redevelopment Project—making it an ideal location for a new business venture. The property sits on over one acre of land with Downtown Commercial Zoning, which provides flexibility for development. With a well-defined environmental condition (backed by a No Further Action Letter from the Indiana Department of Environmental Management), it is ready for immediate construction. Planned structural improvements include accommodations for rooftop seating and an interior staircase, making the space perfect for a brew pub or similar venue. The site also benefits from an outstanding solar footprint, with full south exposure ideal for solar power generation. Additionally, there are approximately 30 on-site parking spaces available, and all utilities, including 3-phase electric, are in place to support the development. The location offers exceptional visibility and access, sitting along a major corridor and greenway directly adjacent to one of the largest urban redevelopment projects in Bloomington’s history.
DEMOGRAPHICS
Demographics
Nearby Major Retailers
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Rudy Fields - Rudy Fields
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Rudy Fields
229 W 1st St
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