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    Garwood Rd Richmond, IN 47374

    For Sale
    $99,900

    1.81 Acres, High Traffic Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional 1.81-acre commercial and residential development opportunity is ideally situated on Garwood Road in Richmond, Indiana, zip code 47374. Located in Wayne County, this property boasts a prime location just 0.33 miles from US 40 and conveniently close to I-70, ensuring high visibility and accessibility. The lot's strategic placement next to three existing commercial buildings and the popular Galo's Restaurant provides an established commercial context and potential for synergistic business relationships. The property's zoning allows for diverse development options, including residential projects such as condos or apartments, or, with appropriate approvals, commercial ventures. This high-traffic area on Garwood Road presents a compelling investment opportunity for developers seeking a well-positioned site with significant potential for growth and return. The asking price for this exceptional parcel is $99,900. Its coordinates are 39.82660673317002 latitude and -84.84217101835807 longitude. This is a rare chance to acquire a substantial piece of land in a thriving area of Richmond. The property is ready for immediate development, offering a unique blend of commercial and residential potential.

    Property Features for 0 Garwood Rd

    General Information

    Property type
    Land
    Lot Size
    78,844 SF

    HighLights

    • 1.81‑acre commercial/residential development site in Richmond, IN (47374).
    • Prime location: 0.33 miles from US 40, close to I‑70, high visibility and accessibility.
    • Adjacent to existing commercial buildings and Galo's Restaurant.
    • Zoned for diverse development (residential or commercial, with approvals).
    • $99,900 asking price.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Richmond
    County
    Wayne
    State
    Indiana
    Longitude
    -84.842171018358
    Latitude
    39.82660673317

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    FAQs

    What type of property is this?
    Land - 1.81 Acres, High Traffic Location
    Where is this land located?
    The property is located at Garwood Rd Richmond, IN.
    What is the asking price?
    The asking price for this property is $99,900.
    What are key features of this property?
    This property features: 1.81-acre commercial/residential development site in Richmond, IN (47374).; Prime location: 0.33 miles from US 40, close to I-70, high visibility and accessibility.; Adjacent to existing commercial buildings and Galo's Restaurant.
    Request Owner's contact information
    Garwood Rd Richmond, IN 47374
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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
    Garwood Rd Richmond, IN 47374
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