Commercial Real Estate Market in Lapel, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
3 active listings and 106 off-market properties in Lapel, IN.
Market Trends
Lapel, IN spans 15.5 square miles in Madison County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Lapel, 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 Lapel, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Lapel, 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 Lapel, 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 91.2%
- Industrial 3.4%
- Commercial 2.9%
- Civic 2.4%
- Mixed use 0.1%
Largest Zones share of zoned land by district
Agriculture
General Industrial
Institutional And Social
Single Family Residential Suburban Neighborhood
Single Family Residential Traditional Neighborhood
Lapel, IN zones 6,559 acres across 10 districts. Commercial zoning covers 2.9% of zoned land, residential 91.2% and industrial 3.4%. The largest single district is Agriculture at 88.4%. For commercial buyers the practical constraint is that only 6.3% of land carries a commercial or industrial designation.
Agriculture (AG)
The Ag, Agriculture Zoning District is intended to provide locations for agricultural operations and related land uses. This district is further intended to reduce conflicts between residential and agricultural uses, preserve the viability of agricultural operations, and limit development in areas with minimal infrastructure
Market overview
Demographics & Economy
Lapel, IN has 2,811 residents in 1,192 households. Density runs 181 people per square mile. Median household income here is $77,411 and median gross rent $1,253 a month.
2,811
Population
1,192
Households
2.4
Avg Household Size
40
Median Age
30%
College-Educated
95%
High-School Grad
15.5 sq mi
ZIP Area
181
Density / Sq Mi
$77,411
Median Household Income
$51,885
Median Earnings
$1,253
Median Rent
$190,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Strawtown | — | — |
| River Forest | — | — |
| Pendleton | — | — |
| Huntsville | — | — |
Commercial property in Lapel, IN asks $6,634/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Lapel?
Commercial property in Lapel, IN asks an average of $6,634 per square foot.
What zoning applies to commercial property in Lapel?
Lapel, IN zones 6,559 acres across 10 districts, of which 2.9% is commercial and 3.4% industrial. The largest single district is Agriculture at 88.4% of zoned land. The Ag, Agriculture Zoning District is intended to provide locations for agricultural operations and related land uses. This district is further intended to reduce conflicts between residential and agricultural uses, preserve the viability of agricultural operations, and limit development in areas with minimal infrastructure Residential zoning covers 91.2% and open space 0%.
Where does Realmo's Lapel market data come from?
Realmo compiles Lapel, IN figures from 2 recent recorded sales, 2 active sale listings, 1 active lease listings, 106 tracked off-market properties, the current Lapel zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 2 active for-sale and 1 active for-lease listings in Lapel, 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: 6,559 zoned acres across 10 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
