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

    W Eaton Pike Richmond, IN

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

    Pad site in regional retail corridor near I-70 interchange.

    Type:LAND
    Lot size:
    2.46 Acres
    Added:
    Nov 26, 2025
    Days on Market:
    158
    Last Refresh:
    Apr 5 at 10:31 pm

    Property Features for W Eaton Pike

    General Information

    Standard status
    Active
    Lot size
    2.46 Acres
    Property subtype
    LAND

    Spaces For Lease

    at W Eaton Pike Contact us

    We can help!

    Listing Contact
    Todd Frank

    Listing agent Todd Frank

    Listing office SRS Real Estate Partners | Chicago

    Listing date Nov 26, 2025

    Source Moodyscre

    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 SRS Real Estate Partners | Chicago

    Overview

    Prime Retail Pad Site

    This pad site is located at the southeast corner of West Eaton Pike and National Road East (I-40). The site will share two access points to West Eaton Pike with Lowe’s and has cross access to two additional West Eaton Pike curb cuts through IHOP and Steak 'N Shake parcels to the north. It is adjacent to the I-70 interchange and situated in the heart of the regional retail corridor for Richmond. The location is in close proximity to other retailers and restaurants such as IHOP, Steak 'n Shake, Culver’s, McDonald’s, Red Lobster, Olive Garden, Texas Roadhouse, Starbucks, Dollar Tree, Walgreens, Dunham’s, Kohl’s, along with many auto uses.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Richmond
    County
    Wayne
    State
    Indiana
    Longitude
    -84.8902
    Latitude
    39.8289

    Nearby Similar for Lease

    • $10 SF/Yr

      Downtown Richmond Office Space Available

      Versatile two-story building in downtown Richmond with parking.
      36 S 9th Street, Richmond, IN 47374
      View Details
    • $30 SF/Yr

      Retail or Restaurant Space Available

      New retail or restaurant spaces for lease near Earlham College.
      515-535 W National Rd, Richmond, IN
      View Details
    • $35 SF/Yr

      Retail Space on National Road

      Retail space for lease near downtown Richmond and Earlham College.
      216 W National Rd, Richmond, IN
      View Details
    • Contact for pricing

      Downtown Richmond Office and Retail

      Office and retail leasing opportunity in Richmond's revitalization district.
      630 E Main St, Richmond, IN 47374
      View Details
    • Contact for pricing

      Versatile Mixed-Use Property Available

      Multi-use property in a Federal Opportunity Zone.
      1175 N A St, Richmond, IN 47374
      View Details
    • Contact for pricing

      Downtown Richmond Office Space Available

      Four-story office building for lease in revitalizing downtown Richmond.
      600 E Main St, Richmond, IN 47374
      View Details
    • Contact for pricing

      Remodeled Warehouse with Cooler/Freezer Space

      30,000 SF warehouse with cooler/freezer and medical fitness space.
      910 Progress Dr, Richmond, IN 47374
      View Details
    • Contact for pricing

      Retail Space in Richmond

      Retail space in vibrant Richmond, close to downtown attractions.
      1503 E Main St, Richmond, IN 47374
      View Details
    • Contact for pricing

      Retail Space in Richmond Center

      Retail spaces available in Walmart shadow-anchored shopping center.
      3513 E Main St, Richmond, IN 47374
      View Details

    FAQs

    What type of property is this?
    Commercial land - Pad site in regional retail corridor near I-70 interchange.
    Where is this commercial land located?
    The property is located at W Eaton Pike Richmond, IN.
    What are key features of this property?
    This property features: Located adjacent to the I‑70 interchange.; Located in the heart of the regional retail corridor for Richmond.; Shares two access points to W Eaton Pike with Lowe’s.
    (847) 722-8253 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Todd Frank
    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

    Thank You for Inquiry

    W Eaton Pike, Richmond, IN

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!