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

    N Gray Rd Mooresville, IN 46158

    View on Map
    Sponsored
    For Sale
    $1,490,408

    Farm - Mooresville, IN

    Type:Farm
    Lot size:
    147.39 Acres
    Days on Market:
    269
    Last Refresh:
    Mar 20 at 8:06 pm

    Property Features for N Gray Rd

    General Information

    Property type
    Land
    Property subtype
    Farm
    Standard status
    Active
    Zoning
    Agricultural
    APN
    551005100001001006
    Lot size
    147.39 Acres

    Utilities

    Water front features
    Pond, River Front, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Kristina Monaghan

    RE/MAX Centerstone

    Listing agent Kristina Monaghan License #RB18000158

    Listing date Jun 25, 2025

    MLS# 22016886 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.

    Learn more

    Property Insight Report

    Overview

    Scenic Acreage Near Indianapolis

    This 147.39-acre property is located near Indianapolis, just off I-69. Approximately 30 acres of the land are tillable and leased to a local farmer. The property features two large ponds and a wooded area suitable for hunting and fishing. It has frontage on Gray Rd and the White River. The land, once a gravel pit, has been reclaimed. Located in the flood plain of the White River, this property is ideal for recreational use, particularly for outdoor enthusiasts or groups, due to the presence of wildlife.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Mooresville
    County
    Morgan
    State
    Indiana
    Longitude
    -86.341166496277
    Latitude
    39.514271748663

    Nearby Similar for Sale

    • $750,000
      3,520 SF

      Versatile Commercial Property on SR 144

      Well-maintained commercial property with flexible spaces and high visibility.
      5229-5239 E S R 144, Mooresville, IN 46158
      View Details
    • $450,000
      4,288 SF

      Mooresville Mixed-Use Corner Lot

      Commercial property with house and two buildings in Mooresville.
      560 Bridge St, Mooresville, IN 46158
      View Details
    • $1,100,000
      Pending

      Mooresville Commercial Body Shop Opportunity

      9800 sqft body shop on 1.72 acres in Mooresville.
      10 Indianapolis Rd, Mooresville, IN 46158
      View Details
    • $750,000
      0.33 Acres

      Versatile Commercial Property in Mooresville

      Well-maintained commercial property with flexible spaces and high visibility.
      5229-5239 E S R 144, Mooresville, IN 46158
      View Details
    • $299,000
      2,480 SF

      Downtown Mooresville Office with Visibility

      2480 SF office in downtown Mooresville with living area.
      124 S Indiana St, Mooresville, IN 46158
      View Details
    • $575,000
      20.63 Acres

      Picturesque 20-Acre Agricultural Property

      20+ acre property perfect for building your dream home.
      E Dayhuff Rd East, Mooresville, IN 46158
      View Details
    • $539,000
      22.00 Acres

      Mooresville Residential Lots For Sale

      22.02 acre residential lots suitable for farming or building.
      6 Watson Rd, Mooresville, IN 46158
      View Details
    • Contact for pricing
      2,555 SF

      Freestanding Commercial Building Sale-Leaseback

      2,555 SF Mooresville building with NNN lease.
      366 S Indiana St, Mooresville, IN 46158
      View Details
    • Contact for pricing
      5,000 SF

      Retail Property Near Shopping Center

      Retail property with excellent visibility near a shopping center.
      437 S Indiana St, Mooresville, IN 46158
      View Details
    • $599,000

      Updated Salon and Spa Building

      Fully operational salon and spa with modern updates and amenities.
      241 E High St, Mooresville, IN 46158
      View Details
    • $650,000
      1,800 SF

      Mooresville Mini-Warehouse Investment

      High-return storage facility with office.
      257 High St, Mooresville, IN 46158
      View Details
    • $775,000
      2,430 SF

      241 High St, Mooresville, IN 46158

      Retail properties & Spaces • 2,430 SF
      241 High St, Mooresville, IN 46158
      View Details

    FAQs

    What type of property is this?
    Farm - 147.39 acre recreational property with tillable ground and ponds.
    Where is this farm located?
    The property is located at N Gray Rd Mooresville, IN.
    What is the asking price?
    The asking price for this property is $1,490,408.
    What are key features of this property?
    This property features: - Scenic acreage close to Indianapolis and accessible via I-69; - Two large ponds and wooded area ideal for hunting and fishing; - Frontage on Gray Rd and the White River
    (317) 313-4679
    Request Owner's contact information
    N Gray Rd Mooresville, IN 46158
    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.
    N Gray Rd
    Mooresville, IN 46158
    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
    N Gray Rd Mooresville, IN 46158
    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

    We can help!
    Listing Contact
    Kristina Monaghan
    Real Estate License ID: RB18000158
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!