Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    New Palestine Redevelopment Opportunity Title is generated by Realmo AI

    5023 W Us Hwy 52, New Palestine, IN 46163

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    0.68-acre parcel suitable for small commercial development.

    Type:LAND
    Lot size:
    0.32 Acres
    Added:
    Apr 30, 2026
    Days on Market:
    31
    Last Refresh:
    May 8 at 3:30 am

    Property Features for 5023 W Us Hwy 52

    General Information

    Standard status
    Active
    Lot size
    0.32 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Crystal Kennard
    Crystal Kennard

    Listing agent Crystal Kennard License #RB14051298

    Listing office Tharp Realty

    Listing date Apr 30, 2026

    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 Tharp Realty

    HighLights

    • Redevelopment opportunity in the heart of New Palestine.
    • Excellent visibility.
    • Surrounded by established neighborhoods.
    • Growing community amenities.
    • Strong potential for small commercial development.
    • Located in one of Hancock County’s most desirable and rapidly expanding areas.

    Overview

    This 0.68-acre parcel presents a redevelopment opportunity in New Palestine. The site offers excellent visibility and is surrounded by established neighborhoods and growing community amenities. It is located in one of Hancock County’s most desirable and rapidly expanding areas, presenting strong potential for a small commercial development.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    New Palestine
    County
    Hancock
    State
    Indiana
    Longitude
    -85.896343
    Latitude
    39.721997

    Nearby Similar for Sale

    • $2,500,000
      10,454 SF

      Adaptable Church Building For Sale

      One-story, 10,454 SF church on 8.69 acres near New Palestine.
      4053 S 650 W, New Palestine, IN 46163
      View Details
    • $175,000

      Residential Lot in Zion Estates

      3.20-acre residential lot in New Palestine, build your dream home.
      2639 S Kings Way, New Palestine, IN 46163
      View Details
    • Contact for pricing

      Prime Redevelopment Opportunity in New Palestine

      0.68-acre parcel with excellent visibility in a growing community.
      5037 W Us Hwy 52, New Palestine, IN 46163
      View Details
    • Contact for pricing

      Prime Redevelopment Opportunity in New Palestine

      0.68-acre parcel with high visibility in a growing community.
      5023 W Us Highway 52, New Palestine, IN 46163
      View Details
    • $495,000

      4.7 Acres with Commercial Potential

      Land with commercial potential, zoned AG, approximately 4.7 acres.
      6722 W US Hwy 40, New Palestine, IN
      View Details
    • Contact for pricing

      18.55 Acre Development Site

      Development site ideal for grocery, pharmacy, or strip center.
      3501 S County Line Rd, New Palestine, IN
      View Details
    • Contact for pricing

      Land in Growing Community

      Commercial land in a growing community, 13 miles from Indianapolis.
      S 700th W, New Palestine, IN
      View Details

    FAQs

    What type of property is this?
    Commercial land - 0.68-acre parcel suitable for small commercial development.
    Where is this commercial land located?
    The property is located at 5023 W Us Hwy 52 New Palestine, IN.
    What are key features of this property?
    This property features: Redevelopment opportunity in the heart of New Palestine.; Excellent visibility.; Surrounded by established neighborhoods.
    (317) 418-2464 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Crystal Kennard
    Crystal Kennard
    Real Estate License ID: RB14051298
    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
    5023 W Us Hwy 52, New Palestine, IN 46163
    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!