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    1604 State Road 252 Martinsville, IN 46151

    For Sale
    $2,399,000

    29.35 Acres, High-Traffic Bypass Location

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    307
    This exceptional 29.35-acre parcel presents a remarkable investment opportunity in Martinsville, Indiana. Strategically situated on State Road 252 at the planned bypass, this property enjoys high visibility and accessibility. Town plans indicate significant development potential, making it ideal for a variety of commercial uses. The site boasts existing infrastructure, including a large home with a basement and a pole barn located at the end of a private driveway. The property is currently zoned residential, but its location and size make it perfectly suited for rezoning to accommodate commercial development. Utilities are planned for the road, including water and sewer lines. A designated area is available for a retention pond, addressing potential environmental needs. The property's configuration lends itself to a mixed-use development, with the front portion ideal for a convenience store or gas station, and the rear portion suitable for a hotel or medical facility, given its proximity to the hospital and the planned I-69. This versatile site offers multiple development possibilities, capitalizing on its prime location and high traffic count. Prior to accessing the property, notification is required for security purposes.

    Property Features for 1604 State Road 252

    General Information

    Property type
    Retail properties
    Lot Size
    1,278,486 SF

    Building Details

    Year Built
    1974
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail properties

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Wholesale Shop Auto Repair Shop Clothing Store Nail Salon Hotel & Motel Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Martinsville
    County
    Morgan
    State
    Indiana
    Longitude
    -86.39728
    Latitude
    39.42533

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    FAQs

    What type of property is this?
    Retail property - 29.35 Acres, High-Traffic Bypass Location
    Where is this retail property located?
    The property is located at 1604 State Road 252 Martinsville, IN.
    What is the asking price?
    The asking price for this property is $2,399,000.
    (317) 831-9799
    Request Owner's contact information
    1604 State Road 252 Martinsville, IN 46151
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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
    1604 State Road 252 Martinsville, IN 46151
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