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    7874 E State Road 28 Elwood, IN 46036

    For Sale
    $350,000

    Mixed Use - Elwood, IN

    Type:Mixed Use
    Property size:
    8,120 SF
    Lot size:
    4.09 Acres
    Days on Market:
    53
    Last Refresh:
    Dec 7 at 11:06 pm

    Property Features for 7874 E State Road 28

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Standard status
    Active
    Zoning
    Commerical General
    APN
    800908400048000007
    Size
    8,120 SF
    Lot size
    4.09 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Roof type
    Asbestos Shingle, Metal, Shingle
    Architectural style
    Other

    RE/MAX Real Estate Solutions (765) 640-1900 [email protected]

    Listing agent Sky Estes (765) 640-1900 License #RB21001218

    Listing date Oct 16, 2025

    MLS# 22043983 Listing URL

    Copyright © 2025 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

    Versatile Commercial Property on State Road

    Located on State Road 28, this 4.09-acre commercial property offers high visibility and access. The property includes a main warehouse of approximately 6,900 square feet, featuring two entry doors, an office area, a loft, and storage space. The warehouse has a metal roof that is 2 years old. Additionally, there is a 1,200-square-foot office building that is fully heated and cooled, connected to city water and sewer, and currently occupied by an HVAC company. The office building also has a 2-year-old roof. The property includes a large paved parking lot and billboard rights, offering an opportunity for additional income. The total living area of both buildings is 8,120 square feet. The property is zoned Commerical General.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Realty agency Building Supply Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Department Store Kitchen & Bath Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Elwood
    County
    Madison
    State
    Indiana
    Longitude
    -85.8631
    Latitude
    40.277169

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    FAQs

    What type of property is this?
    Mixed-use property - 4.09 acres with warehouse, office, parking, and billboard rights.
    Where is this mixed-use property located?
    The property is located at 7874 E State Road 28 Elwood, IN.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: - High-traffic location on State Road 28 with excellent visibility and access.; - 4.09 acres of prime, multi-purpose commercial property.; - Main warehouse (approx. 6,900 sq. ft.) with office, loft, and abundant storage.
    (765) 640-1900
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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
    7874 E State Road 28 Elwood, IN 46036
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