774 S Morgantown Road, Greenwood, IN 46143
COMMERCIAL - Greenwood, IN
- Added:
- Sep 8, 2024
- Days on Market:
- 643
- Last Refresh:
- Jun 12 at 4:06 pm
Property Features for 774 S Morgantown Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- R2
- Standard status
- Active
- APN
- 410404011070000038
- Lot size
- 2.01 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Description
- E Ne S4 T13 R3
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1980
- Floors in Building
- 2
Listing agent Katina Whalen License #RB14031898 (317) 491-5334
Listing office Sugar Creek Real Estate, LLC PO Box 64, New Palestine, IN (317) 491-5334
Listing date Sep 8, 2024
Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Prime location for commercial development in a rapidly growing area.
- Zoned R2, offering flexibility for various commercial uses.
- Excellent visibility and accessibility, minutes from the new I‑69 interchange.
- Existing 3,552‑square‑foot building with multiple private rooms, community areas, full kitchen, and four bathrooms.
- Includes a 400‑square‑foot pole barn on 2+ acres.
- Proximity to other businesses and the anticipated Shops at Center Grove.
Overview
The site is currently zoned R2 and sits on 2+ acres, offering room for redevelopment or complementary improvements depending on intended use. The listing also notes proximity to other businesses and the planned Shops at Center Grove, along with accessibility to the area near the new I-69 interchange at Smith Valley Road.
For buyers or operators, the combination of dedicated office space and additional outbuilding area can support a range of business needs, from consolidating staff and client functions in the existing building to using the pole barn for storage or operational support. With the property’s R2 zoning and on-site acreage, it may also fit plans that contemplate commercial development or reuse, subject to applicable approvals and use requirements.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $70.3k | $19.80 |
| − Vacancy | −$10.5k | −$2.97 |
| EGI | $59.8k | $16.83 |
| − OpEx | −$14.9k | −$4.21 |
| NOI | $44.8k | $12.62 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Greenwood
- County
- Johnson
- State
- Indiana
- Longitude
- -86.196451
- Latitude
- 39.625971