Add Listing
    For Lease
    • 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

    820 Indianapolis Rd Greencastle, IN 46135

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

    Retail space for rent in a vibrant Greencastle community.

    Type:Retail
    Added:
    Aug 28, 2020
    Days on Market:
    2064
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 820 Indianapolis Rd

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 820 Indianapolis Rd Contact us

    We can help!

    Listing Contact
    Matthew Hill

    Listing agent Matthew Hill License #FLBO

    Listing office Legacy Commercial Properties

    Listing date Aug 28, 2020

    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 Legacy Commercial Properties

    Overview

    Retail Space in Greencastle, IN

    This retail space is located in Greencastle, Indiana, near 820 Indianapolis Rd. The area offers a mix of small-town charm and commercial opportunities, attracting visitors from nearby residential neighborhoods. The location provides access to the Putnam County Museum, Robe-Ann Park, local restaurants, and boutique shops. Its strategic location and easy access to major roadways are suitable for retail and free-standing building businesses to establish a presence.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Jimmy John's Take-out & Catering Boomer's Fireworks Discount Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Greencastle
    County
    Putnam
    State
    Indiana
    Longitude
    -86.84806
    Latitude
    39.64461

    Nearby Similar for Lease

    • Contact for pricing

      Greencastle Retail/Office Space Available

      Versatile commercial property with high visibility and ample parking.
      814 N Jackson Street, Greencastle, IN 46135
      View Details
    • Contact for pricing

      Mixed-Use Building in Greencastle, IN

      Mixed-use commercial building in downtown Greencastle, available November 2025.
      20 W Washington Street, Greencastle, IN 46135
      View Details
    • Contact for pricing

      Versatile Commercial Space For Lease

      1,600 SF commercial space suitable for multiple uses.
      1049 Indianapolis Road, Unit C, Greencastle, IN 46135
      View Details
    • Contact for pricing

      Restaurant with Drive-Thru Available

      3,000 SF restaurant with drive-thru on 0.77 acres.
      40 Putnam Plaza, Greencastle, IN
      View Details
    • Contact for pricing

      Retail and Warehouse Space Available

      Retail and warehouse spaces available in busy shopping center.
      25-57 Putnam Plz, Greencastle, IN
      View Details
    • Contact for pricing

      Retail Space Near Kroger

      Retail space available near Kroger and DePauw University.
      833 Indianapolis Rd, Greencastle, IN
      View Details
    • Contact for pricing

      Retail Center with Anchor Tenants

      Retail spaces available in center anchored by major retailers.
      1333 Indianapolis Rd, Greencastle, IN 46135
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space for rent in a vibrant Greencastle community.
    Where is this retail space located?
    The property is located at 820 Indianapolis Rd Greencastle, IN.
    What are key features of this property?
    This property features: Prime location in the thriving community of Greencastle, IN.; Close proximity to the 820 Indianapolis Rd. location.; Strategic location with easy access to major roadways.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matthew Hill
    Real Estate License ID: FLBO
    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!