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    3583 State Hwy Spencer, IN 47460

    For Sale
    $250,000

    4.12 Acres, 1960 sq ft building, high visibility.

    Property size:
    1,960 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    307
    This exceptional mixed-use property presents a unique investment opportunity in Spencer, Indiana. Situated on a prominent 4.12-acre lot boasting approximately 375 feet of road frontage along State Highway 3583, this location benefits from significant traffic flow between Spencer and Bloomington, ensuring high visibility and potential for a variety of commercial ventures. The existing 1,960 square foot building requires substantial repairs or could be removed entirely, allowing for complete customization to suit your specific needs and vision. The expansive lot offers ample space for development, expansion, or the creation of additional structures. This property is ideal for entrepreneurs seeking a high-traffic location with significant development potential. Its strategic position and generous land area make it a rare find in the Spencer market. The existing building, while needing extensive work, provides a solid foundation for a renovation project or could be easily demolished to make way for new construction. This is a prime opportunity to capitalize on the strong traffic flow and create a thriving business in a desirable location. Don't miss this chance to acquire a substantial piece of land with immense potential. The asking price of $250,000 reflects the significant opportunity presented by this property's location and size.

    Property Features for 3583 State Hwy

    General Information

    Property type
    Mixed-use properties
    Square Feet
    1,960 SF
    Lot Size
    179,467 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Map

    City
    Spencer
    County
    Owen
    State
    Indiana
    Longitude
    -86.7754
    Latitude
    39.2857

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    FAQs

    What type of property is this?
    Mixed-use property - 4.12 Acres, 1960 sq ft building, high visibility.
    Where is this mixed-use property located?
    The property is located at 3583 State Hwy Spencer, IN.
    What is the asking price?
    The asking price for this property is $250,000.
    (812) 714-8250
    Request Owner's contact information
    3583 State Hwy Spencer, IN 47460
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    Spencer, IN 47460
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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
    3583 State Hwy Spencer, IN 47460
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