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    1049 Indianapolis Rd Greencastle, IN 46135

    For Sale
    $675,000

    Three buildings, 1.89 acres, high ROI.

    Property size:
    10,374 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    313
    This exceptional investment opportunity encompasses three commercial/industrial buildings situated on a spacious 1.89-acre lot in Greencastle, Indiana. The property boasts a total of 10,374 square feet of building space, complemented by an additional 280-square-foot garage. Building #1, constructed in 1990 and measuring 1,566 square feet, features a shop area, two offices, a restroom, gas furnace and space heating, partial central air conditioning, and two overhead doors. Recent updates include a new roof and gutters. Building #2, a substantial 5,928 square feet, comprises sections built in 1989, 2003, and 2016. It includes warehouse/storage space, an office, a restroom, and two overhead doors. This building has benefited from a new roof, updated furnace, and air conditioning. Finally, Building #3, a 2,880-square-foot structure built in 2006, offers warehouse/shop space, an office, a restroom, and a loft. It features three overhead doors and is equipped with space heating, a heat pump, and air conditioning. New gutters have been recently installed. This property presents a rare opportunity to acquire a well-maintained, multi-building complex with significant potential for diverse commercial or industrial uses. The location in Greencastle offers convenient access to transportation routes and a growing local market. The asking price is $675,000.

    Property Features for 1049 Indianapolis Rd

    General Information

    Property type
    Mixed-use properties
    Square Feet
    10,374 SF
    Lot Size
    82,328 SF

    Building Details

    Year Built
    1990
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Thomas Ditching Inc Excavating Contractor

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Greencastle
    County
    Putnam
    State
    Indiana
    Longitude
    -86.83691
    Latitude
    39.64727

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    FAQs

    What type of property is this?
    Mixed-use property - Three buildings, 1.89 acres, high ROI.
    Where is this mixed-use property located?
    The property is located at 1049 Indianapolis Rd Greencastle, IN.
    What is the asking price?
    The asking price for this property is $675,000.
    (317) 745-6404
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    Greencastle, IN 46135
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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
    1049 Indianapolis Rd Greencastle, IN 46135
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