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    1515 S State Road 37 Elwood, IN 46036

    Sponsored
    For Lease
    $14 SF/Yr ($4,690 /Mo)

    Retail - Elwood, IN

    Type:Retail
    Property size:
    4,020 SF
    Lot size:
    8.28 Acres
    Days on Market:
    252
    Last Refresh:
    Jan 5 at 4:06 pm

    Property Features for 1515 S State Road 37

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Standard status
    Active
    Zoning
    Commercial
    APN
    480414300173000027
    Size
    4,020 SF
    Lot size
    8.28 Acres

    Building Details

    Architectural style
    Other

    Indy Metro Northeast dba Keller Williams Realty (317) 564-7100 [email protected]

    Listing agent Robert Burlas (317) 564-7100 License #RB21001261

    Listing date Apr 29, 2025

    MLS# 22035391 Listing URL

    Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Elwood Retail Space Available

    This retail property, situated in Elwood, Indiana, offers 4,020 square feet of commercial space on an 8.28-acre lot. The property is zoned for commercial use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail properties

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elwood
    County
    Madison
    State
    Indiana
    Longitude
    -85.816577
    Latitude
    40.264039

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    FAQs

    What type of property is this?
    Retail property - Retail property available for lease in Elwood, Indiana.
    Where is this retail property located?
    The property is located at 1515 S State Road 37 Elwood, IN.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: - Location: [-85.816574,40.264038]
    (317) 989-2526
    Request Owner's contact information
    1515 S State Road 37 Elwood, IN 46036
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    Elwood, IN 46036
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1515 S State Road 37 Elwood, IN 46036
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