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    Memorial Dr New Castle, IN 47362

    Sponsored
    For Sale
    $250,000

    1.2-acre lot, high visibility, C-1 zoning.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 1.2-acre commercial land parcel presents a remarkable development opportunity in New Castle, Indiana. Situated on N Memorial Drive, this property boasts prime frontage on SR 3, ensuring high visibility and significant traffic exposure for any business. The C-1 zoning allows for a wide range of commercial uses, making it ideal for restaurants, retail establishments, or other commercial ventures. Its strategic location offers significant advantages, with proximity to a newly constructed medical facility and a YMCA, further enhancing its appeal and potential for attracting customers and employees. City utilities are readily available, simplifying the development process. The asking price is $250,000, translating to approximately $208,333.33 per acre, reflecting the exceptional value and potential of this highly desirable location in Henry County. This is a rare chance to acquire a well-positioned commercial lot with excellent visibility and access in a growing area.

    Property Features for 0 Memorial Dr

    General Information

    Property type
    Land
    Lot Size
    52,272 SF

    HighLights

    • $250,000 asking price.
    • 1.2‑acre commercial/industrial land parcel.
    • $208,333.33 per acre land value.
    • Located on N Memorial Dr, New Castle, IN 47362.
    • High‑visibility site with SR 3 frontage.
    • C‑1 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    New Castle
    County
    Henry
    State
    Indiana
    Longitude
    -85.38165
    Latitude
    39.93684

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    FAQs

    What type of property is this?
    Land - 1.2-acre lot, high visibility, C-1 zoning.
    Where is this land located?
    The property is located at Memorial Dr New Castle, IN.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: $250,000 asking price.; 1.2-acre commercial/industrial land parcel.; $208,333.33 per acre land value.
    Request Owner's contact information
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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
    Memorial Dr New Castle, IN 47362
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