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    408 Commerce Rd Richmond, IN 47374

    For Sale
    $600,000

    1.34 Acres, $600,000

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 1.34-acre commercial land parcel presents a unique investment opportunity in Richmond, Indiana. Located at 408 Commerce Road, this property is zoned for special purpose use, offering significant potential for a variety of commercial developments. The expansive lot provides ample space for construction, allowing for flexibility in design and functionality. With its strategic location in Wayne County, this site benefits from convenient access to major transportation routes, ensuring excellent visibility and accessibility for any future business. The asking price of $600,000 represents a compelling value for a property of this size and potential in a growing market. The absence of existing structures allows for complete customization, enabling the development of a project tailored to specific business needs. This is an ideal opportunity for entrepreneurs and investors seeking a blank canvas to create a thriving commercial venture. The property's address is 408 Commerce Road, Richmond, IN 47374. Serious inquiries are encouraged to explore the possibilities this prime commercial land offers. The property is listed at $600,000. No existing buildings are present on the site.

    Property Features for 408 Commerce Rd

    General Information

    Property type
    Land
    Lot Size
    58,370 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Wayne
    State
    Indiana
    Longitude
    -84.8244012
    Latitude
    39.8343702

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    FAQs

    What type of property is this?
    Land - 1.34 Acres, $600,000
    Where is this land located?
    The property is located at 408 Commerce Rd Richmond, IN.
    What is the asking price?
    The asking price for this property is $600,000.
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    Richmond, IN 47374
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    Realmo Value Estimation

    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.

    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.

    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
    408 Commerce Rd Richmond, IN 47374
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