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

    4017 IN-32 Westfield, IN

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

    Land with direct access to SR 32 in Westfield.

    Type:LAND
    Lot size:
    1.75 Acres
    Added:
    Sep 13, 2023
    Days on Market:
    955
    Last Refresh:
    Apr 5 at 10:28 pm

    Property Features for 4017 IN-32

    General Information

    Standard status
    Active
    Lot size
    1.75 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Michael Horrigan
    Michael Horrigan

    Listing agent Michael Horrigan License #RB18001244

    Listing office Bradley Company - Corporate

    Listing date Sep 13, 2023

    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 Bradley Company - Corporate

    Overview

    Land with SR 32 Access

    This site offers direct access to SR 32 on the east side of Westfield. It benefits from easy access to the Midland Trace Trail, which is adjacent to the south of the site. The property is zoned GB- General Business, offering a range of potential uses. The seller, Indiana Members Credit Union, will retain review rights over the use of the site.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Westfield
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.0428
    Latitude
    40.129

    Nearby Similar for Sale

    • $875,000

      Westfield Residential Lot Opportunity

      Residential lot in downtown Westfield near local amenities.
      0 Birch Street, Westfield, IN 46074
      View Details
    • $330,000

      Residential Lots in Golf Community

      Residential lots in Westfield's premier championship golf community.
      20310 Chatham Creek Drive, Westfield, IN 46074
      View Details
    • $1,450,000

      Westfield Residential Land Opportunity

      13.88 acres of residential land in Westfield, Indiana.
      18601 Grassy Branch Road, Westfield, IN 46074
      View Details
    • $4,200,000

      Westfield Land Near Grand Park

      24 acres near Grand Park with development potential.
      0 W 193rd Street, Westfield, IN 46074
      View Details
    • $6,357,000
      11,275 SF

      New Retail Property with Lease

      New retail property with a 15-year lease and annual increases.
      17313 Spring Mill Rd, Westfield, IN
      View Details
    • $320,000

      Residential Lots in Golf Community

      Residential lots in a championship golf community with resort-style amenities.
      374 Old Ashbury Road, Westfield, IN 46074
      View Details
    • $1,350,000

      Westfield Commercial Land Opportunity

      5.13 acres of commercial land in Westfield, Indiana.
      823 W State Road 32, Westfield, IN 46074
      View Details
    • Contact for pricing
      3,200 SF

      Westfield Restaurant Opportunity

      Restaurant property for sale in Westfield, Indiana.
      222 E 175th St, Westfield (Indianapolis MSA), IN 46074
      View Details
    • $3,574,545
      2,760 SF

      Westfield Retail NNN Investment Opportunity

      NNN retail property with long-term redevelopment potential in Westfield.
      965 E Tournament Trl, Westfield, IN 46074
      View Details
    • Contact for pricing

      Westfield Nest School For Sale

      New construction Nest School with a 15-year corporate lease.
      17313 Spring Mill Rd, Westfield, IN 46074
      View Details
    • $1,875,000
      5,160 SF

      Westfield Automotive Repair Shop Opportunity

      Auto repair shop on 1.58 acres in Westfield retail corridor.
      17534 Westfield Business Park Ct, Westfield, IN 46074
      View Details
    • $13,390,000

      Prime Westfield Development Opportunity

      Exceptional land parcel near Grand Park Sports Campus.
      19347 Beruna Way, Westfield, IN
      View Details

    FAQs

    What type of property is this?
    Land - Land with direct access to SR 32 in Westfield.
    Where is this land located?
    The property is located at 4017 IN-32 Westfield, IN.
    What is the asking price?
    The asking price for this property is $437,000.
    What are key features of this property?
    This property features: Direct access to SR 32; Zoned GB- General Business; Easy access to Midland Trace Trail
    (317) 439-3452 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Michael Horrigan
    Michael Horrigan
    Real Estate License ID: RB18001244
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!