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

    1575 US-231 Crawfordsville, IN 47933

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

    Prime retail development site along main corridor in Crawfordsville, Indiana.

    Type:Land
    Added:
    Jun 13, 2024
    Days on Market:
    678
    Last Refresh:
    Mar 17 at 1:26 pm

    Property Features for 1575 US-231

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Jeffrey Marchio

    Listing agent Jeffrey Marchio License #RB17000302

    Listing office Tharp Realty Group

    Listing date Jun 13, 2024

    Source Crexi

    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 Group

    Overview

    Crawfordsville Retail Development Opportunity

    This property presents a prime opportunity for retail development along the main corridor in Crawfordsville, Indiana. Available for sale, ground lease, or build-to-suit, this site offers high visibility and accessibility. The location is ideal for retail development due to its proximity to key transportation routes, ensuring a steady flow of potential customers. The property's lot provides ample space for numerous retail concepts and substantial parking. The entire site is usable and shovel ready. The property is adjacent to major retailers and offers the opportunity to establish a retail presence in a dynamic location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Crawfordsville
    County
    Montgomery
    State
    Indiana
    Longitude
    -86.906827
    Latitude
    40.016424

    Nearby Similar for Sale

    • $224,900
      1,891 SF

      Medical Office Suite Near Hospital

      Well-equipped medical office suite in Crawfordsville's medical corridor.
      1720 Lafayette Rd, Crawfordsville, IN
      View Details
    • $1,685,000
      3,000 SF

      New PNC Bank For Sale

      Brand-new PNC Bank with a 15-year absolute NNN lease.
      309 N Washington St, Crawfordsville, IN 47933
      View Details
    • Contact for pricing
      5,000 SF

      Industrial Building on 1.49 Acres

      6,000 SF industrial building on 1.49 acres for sale.
      809 Lafayette Road, Crawfordsville, IN, 47933
      View Details
    • $135,000
      1,748 SF

      Office/Retail Space on Washington St

      Office/retail space featuring individual offices, lobby, and storage.
      130 S Washington St, Crawfordsville, IN 47933
      View Details
    • $842,400

      52 Acres Tillable Land

      52 acres of tillable land with development potential.
      W State Road 32, Crawfordsville, IN
      View Details
    • $150,000

      Crawfordsville Retail Development Opportunity

      Prime retail development outlot with high visibility and accessibility.
      1575 S US Hwy 231, Crawfordsville, IN
      View Details
    • $1,500,000

      Crawfordsville Land Near Dry Branch

      Land with high visibility near local attractions and key routes.
      150 W South Blvd, Crawfordsville, IN
      View Details
    • $500,000

      Crawfordsville Land Near Government Center

      4-acre commercial land near Montgomery County Government Center.
      00 Constitution Row, Crawfordsville, IN, 47933
      View Details
    • $625,000

      Crawfordsville Commercial Land For Sale

      3. 6-acre commercial land near Montgomery County Government Center.
      00 S 100 W, Crawfordsville, IN, 47933
      View Details
    • $379,900

      Land on State Road 32

      Land available on State Road 32 near I-74.
      0 E state 32 road, Crawfordsville, IN
      View Details
    • $299,900

      Corner Lot with Road Frontage

      3.73 acre corner lot with road frontage on three sides.
      00 Corey Blvd, Crawfordsville, IN, 47933
      View Details
    • $550,000

      Commercial Land in Industrial Area

      21+ acres in commercial/industrial area near Nucor Steel.
      0 S east county 350 road, Crawfordsville, IN
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime retail development site along main corridor in Crawfordsville, Indiana.
    Where is this commercial land located?
    The property is located at 1575 US-231 Crawfordsville, IN.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: High traffic location; Located along the main corridor in Crawfordsville, IN; Adjacent to major retailers
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jeffrey Marchio
    Real Estate License ID: RB17000302
    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!