Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    SR Rd 38 Lafayette, IN

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    2-3 acres available at signalized intersection near Subaru plant.

    Type:LAND
    Lot size:
    3.00 Acres
    Added:
    Jan 23, 2025
    Days on Market:
    465
    Last Refresh:
    Apr 5 at 10:24 pm

    Property Features for SR Rd 38

    General Information

    Standard status
    Active
    Lot size
    3.00 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Shawn Heffern

    Listing agent Shawn Heffern

    Listing office Midland Atlantic Indianapolis Office

    Listing date Jan 23, 2025

    Source Moodyscre

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

    All listing content including descriptions, pricing, images are the copyrighted material of Midland Atlantic Indianapolis Office

    Overview

    Lafayette Commercial Land For Sale

    Available for sale are 2 to 3 acres of commercial land situated at a hard corner of a signalized intersection. The property is zoned GB, which permits fuel and automotive uses. Its location is strategic, positioned between the Subaru plant employing 5,800 individuals, Franciscan Hospital with 199 beds, and Tippecanoe Mall encompassing 800,000 square feet. The site is less than 3 miles from I-65, serving the fast-growing southeastern portion of Lafayette.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Lafayette
    County
    Tippecanoe
    State
    Indiana
    Longitude
    -86.8898
    Latitude
    40.4176

    Nearby Similar for Sale

    • $449,900
      4,094 SF

      Lafayette Fiveplex in Historic Neighborhood

      Fully rented five-unit building in a desirable location.
      115 S 9th Street, Lafayette, IN 47905
      View Details
    • $500,000
      3,870 SF

      Six-Unit Investment Property Opportunity

      Six-unit investment property featuring two buildings on a single parcel.
      1103 North Street, Lafayette, IN 47904-2559
      View Details
    • $209,900
      1,950 SF

      Lafayette Duplex: Income Potential

      Two-story duplex near downtown Lafayette, ideal for rental income.
      1115 North Street, Lafayette, IN 47904-2559
      View Details
    • $400,000

      Lafayette Agricultural Land For Sale

      10 acres of agricultural land near IU Hospital and I-65.
      S 800 E, Lafayette, IN 47905
      View Details
    • $289,900
      1,976 SF

      Lafayette Duplex Near Columbian Park

      Multi-family duplex near Columbian Park, Lafayette. Fully leased.
      205 Lincoln Street, Lafayette, IN 47904
      View Details
    • $35,000

      Residential Land in Lafayette, IN

      Vacant lot suitable for duplex or new home construction.
      tbd N 16th Street, Lafayette, IN 47904
      View Details
    • $380,000

      Lafayette Agricultural Land Opportunity

      19-acre lot near Purdue with building and income potential.
      4400 Silver Shale Lane, Lafayette, IN 47909
      View Details
    • $425,000

      Truck Garage on State Road

      Garage for large truck repair on a 50,000 sqft lot.
      2350 state road 25 w Road, Lafayette, IN 47909
      View Details
    • $1,520,000

      Lafayette Commercial Land For Sale

      21.677 acres of commercial land in Lafayette, Indiana.
      4305 E 300 N, Lafayette, IN 47905
      View Details
    • $340,000
      5,260 SF

      Downtown Lafayette Historic District Building

      Three-story, 5,260 SF building in Lafayette's Historic District.
      725 Main St, Lafayette, IN
      View Details
    • $435,000
      2,817 SF

      Move-in Ready Salon or Retail

      Well-maintained salon suite adaptable for retail or service uses.
      2504 Veterans Memorial Pkwy S, Lafayette, IN
      View Details
    • $1,375,000
      896 SF

      East Side Office Space Available

      Well-maintained office space for lease on Lafayette's East Side.
      30 Professional Ct, Lafayette, IN
      View Details

    FAQs

    What type of property is this?
    Land - 2-3 acres available at signalized intersection near Subaru plant.
    Where is this land located?
    The property is located at SR Rd 38 Lafayette, IN.
    What are key features of this property?
    This property features: Hard corner location at a signalized intersection.; Zoned GB, permitting fuel and automotive uses.; Strategically located between Subaru Plant (5,800 Employees), Franciscan Hospital (199 Beds), and Tippecanoe Mall (800K SF).
    (317) 580-9900 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Shawn Heffern
    Learn More
    Request Owner's contact information
    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.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    SR Rd 38, Lafayette, IN

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!