Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    5243 S State Road 3 New Castle, IN 47362

    For Sale
    $3,300,000

    5.7 acres with high visibility and redevelopment potential.

    Property size:
    25,404 SF
    Lot size:
    5.46 Acres

    Property Features for 5243 S State Road 3

    General Information

    Size
    25,404 SF
    Lot size
    5.46 Acres

    Source: Marcus & Millichap | Indianapolis Agent Jordan Klink

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    I-70 Visible Redevelopment Opportunity

    This 5.7-acre property offers a redevelopment opportunity with general business district zoning, permitting various commercial and industrial uses. It features high visibility along both East and Westbound I-70 routes, situated immediately off Exit 123, which experiences approximately 40,000 vehicles per day. The property is located two miles south of the New Castle-Henry County Industrial Park, a +/-1M square foot industrial park that has brought +/-$200M of total investments and +/-1,000 jobs into the community, allowing for a larger future redevelopment opportunity or building expansion for any potential tenant.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Wholesale Shop Auto Repair Shop Bar & Pub Auto Parts Store Car Rental Bakery Breakfast Parking Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    New Castle
    County
    Henry
    State
    Indiana
    Longitude
    -85.408322
    Latitude
    39.85744

    Nearby Similar for Sale

    • $140,000
      0.13 Acres

      New Castle Triplex For Sale

      Fully rented triplex in New Castle, Indiana. Investor opportunity.
      504 N 12Th St, New Castle, IN 47362
      View Details
    • $124,900
      Pending

      Turnkey Duplex on Corner Lot

      Income-generating duplex with two units in a quiet neighborhood.
      1127-1129 S 18Th St, New Castle, IN 47362
      View Details
    • $119,900

      Versatile Home with Garage and Yard

      Convertible duplex with garage, fenced yard, and ample parking.
      1727 Plum St, New Castle, IN 47362
      View Details
    • $1,920,000
      760 SF

      Scooter’s Coffee NNN Asset

      760 SF Scooter’s Coffee absolute NNN asset for sale.
      1705 S Memorial Dr, New Castle, IN 47362
      View Details
    • $249,900
      7,250 SF

      Versatile Industrial Property Near New Castle

      Industrial building with office/apartment space near New Castle, Indiana.
      5363 W State Road 38, New Castle, IN 47362
      View Details
    • $69,500
      0.19 Acres

      Mechanic Shop with Office Space

      Mechanic shop with office, car lot potential, warehousing, retail.
      2710 Broad St, New Castle, IN 47362
      View Details

    FAQs

    What type of property is this?
    Industrial property - 5.7 acres with high visibility and redevelopment potential.
    Where is this industrial property located?
    The property is located at 5243 S State Road 3 New Castle, IN.
    What is the asking price?
    The asking price for this property is $3,300,000.
    What are key features of this property?
    This property features: - High visibility from I-70 with approximately 40,000 vehicles per day.; - 5.7 acres allowing for redevelopment or building expansion.; - Redevelopment opportunity with General Business District zoning permitting various commercial and industrial uses.
    (317) 218-5300
    Request Owner's contact information
    5243 S State Road 3 New Castle, IN 47362
    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.
    5243 S State Road 3
    New Castle, IN 47362
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    5243 S State Road 3 New Castle, IN 47362
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.