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    506 Crone Rd Memphis, IN 47143

    Sponsored
    For Sale
    $350,000

    High-Visibility Industrial Lot, Excellent Location

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional 4.93-acre industrial property boasts unparalleled visibility and accessibility, directly adjacent to I-65 in Memphis, Indiana. Zoned M-1 light industrial, the land comprises two parcels offering significant development potential. The property's strategic location benefits from high traffic counts due to its proximity to I-65, providing excellent exposure for any business. Further enhancing its value is a currently active billboard generating $450 per month in revenue ($5,400 annually), with a lease expiring April 30th, 2021, requiring 30 days written notice for termination. The seller has chosen not to automatically renew the lease. The recent addition of a Thorntons Fuel Store at the nearby Blue Lick exit has generated increased interest in the area, signaling a positive trend in local development. Permitted uses under Clark County zoning regulations include B2 and B classifications, offering flexibility for a variety of industrial and commercial ventures. This presents a unique opportunity to capitalize on Southern Indiana's burgeoning growth and establish a strong presence in a high-traffic location. The asking price of $350,000 reflects the property's prime location and income-generating potential. This is a rare chance to acquire a well-situated industrial property with immediate revenue generation and significant long-term growth prospects.

    Property Features for 506 Crone Rd

    General Information

    Property type
    Industrial properties
    Lot Size
    214,751 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Industrial properties

    Suggested Use

    Restaurant Realty agency Building Supply Wholesale Shop Auto Repair Shop Auto Parts Store Department Store Kitchen & Bath Storage Facility Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Clark
    State
    Indiana
    Longitude
    -85.77278
    Latitude
    38.48494

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    FAQs

    What type of property is this?
    Industrial property - High-Visibility Industrial Lot, Excellent Location
    Where is this industrial property located?
    The property is located at 506 Crone Rd Memphis, IN.
    What is the asking price?
    The asking price for this property is $350,000.
    (812) 283-4778
    Request Owner's contact information
    506 Crone Rd Memphis, IN 47143
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    Memphis, IN 47143
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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
    506 Crone Rd Memphis, IN 47143
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