Commercial Real Estate Market in Greencastle, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
31 active listings and 638 off-market properties in Greencastle, IN. Commercial property asks $218/SF to buy and $10.04/SF/Yr to lease.
Market Trends
Greencastle, IN spans 167.1 square miles in Putnam County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Greencastle, IN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Greencastle, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
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%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Greencastle, IN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
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
Single Family Dwelling
General Industrial
Traditional Neighborhood
Single Family Dwelling
Light Industrial
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.
Single Family Dwelling (SD1)
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.
19,869
Population
7,148
Households
2.8
Avg Household Size
38
Median Age
22%
College-Educated
91%
High-School Grad
167.1 sq mi
ZIP Area
119
Density / Sq Mi
$70,847
Median Household Income
$33,314
Median Earnings
$902
Median Rent
$200,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Limedale | — | — |
| Manhattan | — | — |
| Putnamville | — | — |
| Fillmore | — | — |
Commercial property in Greencastle, IN asks $218/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Greencastle?
Commercial property in Greencastle, IN asks an average of $218 per square foot.
How much does it cost to lease commercial space in Greencastle?
Asking lease rates in Greencastle, IN average $10.04 per square foot per year.
What zoning applies to commercial property in Greencastle?
Greencastle, IN zones 3,416 acres across 18 districts, of which 22.6% is commercial and 28.9% industrial. The largest single district is Single Family Dwelling at 22.5% of zoned land. 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… Residential zoning covers 41.1% and open space 0%.
Where does Realmo's Greencastle market data come from?
Realmo compiles Greencastle, IN figures from 2 recent recorded sales, 17 active sale listings, 14 active lease listings, 638 tracked off-market properties, the current Greencastle zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 17 active for-sale and 14 active for-lease listings in Greencastle, IN. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- 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 August 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 August 2026 · report a data issue
