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

    161St St Westfield, IN 46074

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    54.3 Acres, Prime Hamilton County Location

    Property Features for 0 161St St

    General Information

    Property type
    Land
    Lot Size
    2,365,308 SF

    We can help!

    Listing Contact
    Gary Perel
    Gary Perel

    Listing Agency: ALO Property Group Listing Agent: Gary Perel

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 54.3-acre commercial land parcel presents an unparalleled development opportunity in Westfield, Indiana. Located at the northeast corner of the new interchange of US 31 and 161st Street, and featuring a new roundabout at 161st and Union Street, this pad-ready site boasts unmatched visibility and accessibility. The property enjoys exposure to over 60,000 vehicles daily, placing your development at the gateway to Westfield's burgeoning downtown area. Situated just south of a new corporate headquarters, this location is nestled amongst Hamilton County's densest retail corridors and surrounded by affluent residential communities. Approved as a Planned Unit Development (PUD), this site is ideal for a mixed-use development, capitalizing on the high-profile location and significant traffic flow. The property's strategic position ensures maximum exposure and accessibility for any commercial venture. This is a rare opportunity to become part of a high-profile, rapidly growing area, offering significant potential for long-term investment and return. The address is N. Meridian St. and 161st St., Westfield, IN 46074, within Hamilton County. This prime location offers a unique blend of high visibility, convenient access, and proximity to thriving residential and commercial areas. Don't miss this chance to secure a prominent position in one of Hamilton County's most sought-after development areas.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Westfield
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.1955169
    Latitude
    40.0215499

    Nearby Similar for Sale

    • $6,357,000
      11,275 SF

      New Retail Property with Lease

      New retail property with a 15-year lease and annual increases.
      17313 Spring Mill Rd, Westfield, IN 46074
      View Details
    • Contact for pricing

      Westfield Nest School For Sale

      New construction Nest School with a 15-year corporate lease.
      17313 Spring Mill Rd, Westfield, IN 46074
      View Details
    • Contact for pricing
      14,866 SF

      CVS Pharmacy Leasehold Investment

      NNN leased CVS Pharmacy in Westfield, Indiana.
      730 In-32, Westfield, IN
      View Details
    • Contact for pricing
      159,850 SF

      Westfield Warehouse Opportunity

      159,850 SF warehouse property in Westfield, Indiana.
      20221 Grassy Branch Rd, Westfield, IN 46074
      View Details
    • Contact for pricing
      24,256 SF

      Westfield Industrial Buildings For Sale

      Two industrial buildings totaling 24,256 SF on 3.12 acres.
      502 In-32, Westfield, IN
      View Details
    • $1,590,000
      0.64 Acres

      Westfield Office Land - Grand Junction

      Prime Westfield location, large office lot, development opportunity.
      306 Park St, Westfield, IN 46074
      View Details
    • $995,000
      4,877 SF

      Westfield Commercial Property - Huge Potential

      Prime Westfield location, 4877 sq ft, high traffic area.
      19499 Chad Hittle Dr, Westfield, IN 46074
      View Details

    FAQs

    What type of property is this?
    Land - 54.3 Acres, Prime Hamilton County Location
    Where is this land located?
    The property is located at 161St St Westfield, IN.
    What are key features of this property?
    This property features: 54.3-acre commercial land parcel in Westfield, IN, offering unmatched development potential.; Located directly south of a new corporate headquarters.; Situated at the northeast corner of the US 31 and 161st Street interchange, with a new roundabout at 161st and Union Street.
    (317) 853-7500 Call to check price and availability
    Request Owner's contact information
    161St St Westfield, IN 46074
    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.
    161St St
    Westfield, IN 46074
    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
    161St St Westfield, IN 46074
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Gary Perel
    Gary Perel
    (317) 853-7500 (317) 698-8446
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!