Commercial Real Estate Market in Greencastle, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
34 active listings and 638 off-market properties in Greencastle, IN. Commercial property asks $123/SF to buy (based on 9 listings) and $13.79/SF/Yr to lease (based on 5 listings).
Market Trends
Greencastle, IN spans 167.1 square miles in Putnam County, Indiana. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Greencastle, IN has a median asking sale price of $124/SF (based on 5 listings). Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Greencastle, IN has a median asking sale price of $148/SF (based on 3 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Greencastle, IN runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Multifamily
Multifamily vacancy in Greencastle, IN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 41.1%
- Industrial 28.9%
- Commercial 22.6%
- Civic 4.5%
- Planned_development 0.8%
Largest Zones share of zoned land by district
Greencastle, IN zones 3,416 acres across 18 districts. Commercial zoning covers 22.6% of zoned land, residential 41.1% and industrial 28.9%. The largest single district is Single Family Dwelling at 22.5%. For commercial buyers the practical constraint is that only 51.5% of land carries a commercial or industrial designation.
Residential Zoning District: Refers to the SD1 & SD2, Single Family Dwelling, TD, Two-Family Dwelling, XD, Mixed-Density Dwelling, TN, Traditional Neighborhood, MD, Multi-Family Dwelling, and MH, Manufactured Dwelling zoning districts. Residential Facility for the Developmentally Disabled Type I: A residential facility which provides residential services for…
Market overview
Demographics & Economy
Greencastle, IN has 19,869 residents in 7,148 households. Density runs 119 people per square mile. Median household income here is $70,847 and median gross rent $902 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Greencastle?
How much does it cost to lease commercial space in Greencastle?
What zoning applies to commercial property in Greencastle?
Where does Realmo's Greencastle market data come from?
Methodology & data sources
- Asking prices and medians
- There are 18 active for-sale and 16 active for-lease listings in Greencastle, IN. The medians are based on 9 of the for-sale and 5 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 3,416 zoned acres across 18 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
