Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Commercial Land on State Road Title is generated by Realmo AI

    3197 W Clark Street, Rensselaer, IN 47978

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    3.039 acres of vacant land zoned B2 for sale.

    Type:Land
    Lot size:
    3.04 Acres
    Added:
    May 12, 2026
    Days on Market:
    16
    Last Refresh:
    May 14 at 9:32 pm

    Property Features for 3197 W Clark Street

    General Information

    Standard status
    Active
    Lot size
    3.04 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Terri Phegley

    Listing agent Terri Phegley License #IN

    Listing office Cornerstone Real Estate Agency, Inc.

    Listing date May 12, 2026

    Source Crexi

    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 Cornerstone Real Estate Agency, Inc.

    HighLights

    • Prime commercial opportunity on 3.039 acres.
    • Zoned B2, suitable for various business ventures.
    • Excellent visibility and accessibility on W State Road 114.
    • High traffic exposure.
    • Located between Rensselaer and the I‑65 interchange.
    • Convenient access for local and interstate traffic.

    Overview

    This property features 3.039 acres of vacant land zoned B2. It is located on W State Road 114 between Rensselaer and the I-65 interchange, offering excellent visibility and accessibility due to high traffic exposure. This location is suitable for a variety of business ventures, with potential for retail, service business, office space, and future development. The property is positioned near a key travel corridor, providing convenient access for local and interstate traffic. Concrete bunkers and all product will be removed from the acreage.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Department Store HVAC Service Garden Center Discount Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Rensselaer
    County
    Jasper
    State
    Indiana
    Longitude
    -87.18769
    Latitude
    40.940662

    Nearby Similar for Sale

    • $154,900
      3,150 SF

      Downtown Rensselaer Commercial Building

      Commercial building in downtown Rensselaer with versatile open spaces.
      110 N Front Street, Rensselaer, IN 47978
      View Details
    • $325,000
      5,000 SF

      Versatile Commercial Building in Rensselaer

      5,000 sq ft commercial building in a prime location.
      507 S College Avenue, Rensselaer, IN 47978
      View Details
    • $130,000

      Rensselaer Vacant Land Opportunity

      3.039 acres of commercially zoned land in Rensselaer, Indiana.
      3197 W Clark Street, Rensselaer, IN 47978
      View Details
    • $199,000
      2,160 SF

      Renovated Office Space in Rensselaer

      Prime business district office space with long-term tenant.
      210 E Washington Street, Rensselaer, IN 47978
      View Details
    • $308,000

      Prime Commercial Parcel in Rensselaer

      5.6-acre commercial land parcel in a sought-after area.
      1130 W Clark Street, Rensselaer, IN 47978
      View Details
    • $458,150

      Rensselaer Land on St. Rd.

      13 acres in Rensselaer with B-2 and I-1 zoning.
      1530-1 W Clark Street, Rensselaer, IN 47978
      View Details
    • $189,900

      Secluded 10-Acre Hunting Land

      10 acres of secluded land, ideal for hunting or building.
      784 W 700 N, Rensselaer, IN 47978
      View Details
    • $1.00
      1,120 SF

      Versatile Land with Ranch and Barns

      240-acre property near Rensselaer with tillable land and structures.
      3583 W 600 N, Rensselaer, IN 47978
      View Details
    • $189,000

      Rensselaer Land with New Barn

      9.38 acre parcel with new pole barn near Rensselaer.
      10396 W County Road 300 S, Rensselaer, IN 47978
      View Details
    • $420,000

      30 Acres Vacant Land Opportunity

      30 acres of vacant land with road frontage.
      1860 W Moody Rd, Rensselaer, IN 47978
      View Details
    • $225,000

      Rensselaer Land for Development

      Eight city lots in prime location, ideal for new construction.
      N Melville Street, Rensselaer, IN 47978
      View Details
    • $189,000

      Rensselaer Land with New Barn

      Nearly 10-acre parcel with new pole barn and campsite.
      10396 W 300 S, Rensselaer, IN 47978
      View Details

    FAQs

    What type of property is this?
    Commercial land - 3.039 acres of vacant land zoned B2 for sale.
    Where is this commercial land located?
    The property is located at 3197 W Clark Street Rensselaer, IN.
    What is the asking price?
    The asking price for this property is $130,000.
    What are key features of this property?
    This property features: Prime commercial opportunity on 3.039 acres.; Zoned B2, suitable for various business ventures.; **Excellent visibility and accessibility on W State Road 114.**
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Terri Phegley
    Real Estate License ID: IN
    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
    3197 W Clark Street, Rensselaer, IN 47978
    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!