Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    787 Highland Rd Lot 2 Richmond, IN 47374

    View on Map
    For Sale
    $1,374,500

    Commercial Land - Richmond, IN

    Lot size:
    10.00 Acres
    Added:
    Jan 23, 2025
    Days on Market:
    433
    Last Refresh:
    Apr 1 at 11:06 am

    Property Features for 787 Highland Rd Lot 2

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Exterior features
    None
    Standard status
    Active
    APN
    89-16-20-210-101.002-029
    Lot size
    10.00 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    2649.52

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Paul Faddis

    Listing agent Paul Faddis License #RB15000347

    Listing office Tarter Realty Auction and Appraisal Company 123 W Franklin St, Winchester, IN

    Listing date Jan 23, 2025

    MLS# 202502124 Listing URL

    Copyright © 2026 Mid-Eastern Indiana Association of Realtor MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Richmond Commercial Land For Sale

    This commercial land offering is located off I-70 and Chester Boulevard in Richmond, Indiana. The site spans approximately 10 acres and features frontage with I-70 visibility. Positioned between Indianapolis and Dayton, the property provides regional access. The surrounding area includes grocery stores, restaurants, Ivy Tech Community College, hotels, healthcare facilities, and retail centers. The location benefits from consistent daily traffic and accessibility for employees, customers, and logistics. This parcel is located in a commercial location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    CB Lingle Properties Real Estate Agency

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Gym & Fitness Center Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Wayne
    State
    Indiana
    Longitude
    -84.892067
    Latitude
    39.872709

    Nearby Similar for Sale

    • $1.00

      Remodeled Commercial Building For Sale

      Move-in ready commercial property with recent updates, ideal for businesses.
      626 S B St, Richmond, IN 47374
      View Details
    • $999,999

      Signalized Corner Development Site

      High-visibility 0.91-acre commercial development site in Richmond, Indiana.
      2700 Williamsburg Pike, Richmond, IN 47374
      View Details
    • $999,999

      Prime Commercial Development Site

      Signalized corner lot ideal for retail or mixed-use development.
      2700 Williamsburg Pike, Richmond, IN 47374
      View Details
    • $159,900
      3,624 SF

      Richmond Fiveplex Investment Opportunity

      Five-unit multifamily property in Richmond, Indiana with immediate cash flow.
      223 S 12th Street, Richmond, IN 47374
      View Details
    • $134,900
      2,240 SF

      Richmond Duplex: Investment Opportunity

      Fully occupied duplex with steady rental income in Richmond, Indiana.
      2212 Glen Court, Richmond, IN 47374
      View Details
    • $279,900
      4,367 SF

      Commercial Building in Richmond, IN

      Mixed-use property with retail suites and apartments in Richmond.
      1001 S E Street, Richmond, IN 47374
      View Details
    • $960,000

      Established Restaurant and Bar Opportunity

      Turnkey restaurant and bar with liquor license and outdoor space.
      1500 N E Street, Richmond, IN 47374
      View Details
    • $1,374,500

      Richmond Commercial Land For Sale

      10-acre commercial land with I-70 visibility in Richmond, Indiana.
      787 Highland Rd. Lot 1, Richmond, IN 47374
      View Details
    • $2,471,538
      12,600 SF

      Retail Opportunity in Richmond, Indiana

      Retail space available for sale in Richmond, Indiana.
      33 Hayes Arboretum Rd, Richmond, IN 47374
      View Details
    • $349,900

      Versatile Building in Downtown Richmond

      Two-story building with offices, open area, and parking.
      36 S 9th Street, Richmond, IN 47374
      View Details
    • $119,900
      1,072 SF

      Richmond Commercial Space For Sale

      1,072 SF commercial space in high-traffic Richmond location.
      315 NW 5 Street, Richmond, IN 47374
      View Details
    • $274,900

      Richmond Commercial Land For Sale

      High-visibility commercial land near Highway 27 and I-70.
      TBD Industries Road, Richmond, IN 47374
      View Details

    FAQs

    What type of property is this?
    Commercial land - 10-acre commercial land with I-70 visibility in Richmond, Indiana.
    Where is this commercial land located?
    The property is located at 787 Highland Rd Lot 2 Richmond, IN.
    What is the asking price?
    The asking price for this property is $1,374,500.
    What are key features of this property?
    This property features: ±10‑acre site with I‑70 visibility and frontage.; Located off I‑70 and Chester Boulevard in a high‑growth corridor.; Outstanding regional access between Indianapolis and Dayton.
    (765) 994-8533
    We can help!
    Listing Contact
    Paul Faddis
    Real Estate License ID: RB15000347
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!