Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Land on Highway 40 Title is generated by Realmo AI

    3001 E Main Street, Plainfield, IN 46168

    View on Map
    Claim this Listing
    For Sale
    $900,000

    Unimproved Land - Plainfield, IN

    Type:Unimproved Land
    Lot size:
    2.87 Acres
    Added:
    Dec 16, 2019
    Days on Market:
    2362
    Last Refresh:
    Jun 4 at 7:06 am

    Property Features for 3001 E Main Street

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Zoning
    comm
    Standard status
    Active
    APN
    320920355001000027
    Lot size
    2.87 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Steven Custis
    Steven Custis

    Listing agent Steven Custis License #RB14034856

    Listing office RE/MAX Cornerstone N. Jackson St., Greencastle, IN

    Listing date Dec 16, 2019

    MLS# 21686637 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.

    HighLights

    • Zoned C‑2 General Commercial, suitable for various business ventures.
    • High road frontage on U.S. Highway 40.
    • Direct access to Washington Street.
    • Proximity to Ronald Reagan Parkway intersection.
    • Utilities are available.
    • Minutes from downtown Indianapolis, I‑465, and the Indianapolis International Airport.

    Overview

    This property features 2.87 acres of unimproved land with significant road frontage on U.S. Highway 40, situated just west of the Ronald Reagan Parkway intersection. Zoned C-2 General Commercial, the land benefits from direct access to Washington Street. The location is a short distance from downtown Indianapolis, I-465, and the Indianapolis International Airport. The property is located in Plainfield, Indiana. Any and all desired utilities are available, making it suitable for commercial development.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Auto Repair Shop Big Box & Wholesale Store Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Plainfield
    County
    Hendricks
    State
    Indiana
    Longitude
    -86.466186
    Latitude
    39.698662

    Nearby Similar for Sale

    • $1,995,000

      Prime Land Parcel in Plainfield

      2.72 acre commercial land parcel in Plainfield, Indiana.
      1771 Quaker Boulevard, Plainfield, IN 46168
      View Details
    • $364,000

      Plainfield Land For Sale

      1.35 acre industrial land available in Plainfield, Indiana.
      1935 Gladden Road, Plainfield, IN 46168
      View Details
    • $1,199,999

      Hospitality Redevelopment Opportunity in Plainfield

      Shovel-ready site with approved plans for a four-story hotel.
      6023 Gateway Dr, Plainfield, IN 46168
      View Details
    • Contact for pricing
      7,560 SF

      Auto Service Shop on Corner

      Well-maintained auto service shop on a corner lot in Plainfield.
      1155 E Main St, Plainfield, IN
      View Details
    • $290,000

      Residential Lot in Plainfield

      Residential lot suitable for building a custom home.
      5414 Gibbs Road, Plainfield, IN 46168
      View Details
    • Contact for pricing
      500,192 SF

      500,192 SF Industrial Space

      Industrial space available for lease in Plainfield, Indiana.
      501 Airtech Pkwy, Plainfield, IN 46168
      View Details
    • $575,000

      Prime Commercial Land For Sale

      One acre commercial land ideal for hotel, motel, or restaurant.
      6019 Gateway Dr, Plainfield, IN 46168
      View Details
    • $1,690,000
      7,564 SF

      Retail Strip Center in Plainfield

      Prime retail strip center with six units, all currently leased.
      2028 Stafford Road, Plainfield, IN 46168
      View Details
    • $5,000

      Residential Lots in Plainfield, IN

      Residential lots available in Hendricks County, Plainfield, Indiana.
      0 WOODSIDE Drive, Plainfield, IN 46168
      View Details
    • $1,704,500

      Commercial Land on US-40

      Commercial land with frontage on US-40 in Plainfield, Indiana.
      US 40 West of Moon Road, Plainfield, IN
      View Details
    • Contact for pricing
      41,652 SF

      Plainfield Retail Center For Sale

      Retail property in Plainfield, Indiana, offered for sale.
      160 PLAINFIELD VILLAGE DR, PLAINFIELD, IN
      View Details
    • $1,550,000
      7,200 SF

      Plainfield Strip Center For Sale

      Prime strip center in Plainfield, Indiana, fully leased.
      2028 Stafford Rd, Plainfield, IN 46168
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.87 acres of commercial land with highway frontage.
    Where is this commercial land located?
    The property is located at 3001 E Main Street Plainfield, IN.
    What is the asking price?
    The asking price for this property is $900,000.
    What are key features of this property?
    This property features: Zoned C‑2 General Commercial, suitable for various business ventures.; High road frontage on U.S. Highway 40.; Direct access to Washington Street.
    (765) 653-7070
    We can help!
    Listing Contact
    Steven Custis
    Steven Custis
    Real Estate License ID: RB14034856
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3001 E Main Street, Plainfield, IN 46168
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!