Commercial Real Estate Market in Spiceland, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
7 active listings and 62 off-market properties in Spiceland, IN.
Market Trends
Spiceland, IN spans 15.0 square miles in Henry County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Spiceland, 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 Spiceland, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Spiceland, 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 Spiceland, 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 64.7%
- Commercial 28.5%
- Industrial 6.8%
Largest Zones share of zoned land by district
Single Family Residential
Agricultural Districts
General Business
Light Industrial
Intensive Highway Business
Spiceland, IN zones 924 acres across 11 districts. Commercial zoning covers 28.5% of zoned land, residential 64.7% and industrial 6.8%. The largest single district is Single Family Residential at 31.6%. For commercial buyers the practical constraint is that only 35.3% of land carries a commercial or industrial designation.
Single Family Residential (R1)
R1 Single Family Residential Districts are established to permit one- (1-) family dwellings in urbanizing areas of the County that may expect to be served by centralized sewer and water facilities in the immediate future. Density shall not exceed two and one-half (2.5) dwelling units per gross acre with sewer services and one (1) dwelling unit per gross acre…
Market overview
Demographics & Economy
Spiceland, IN has 1,581 residents in 701 households. Density runs 106 people per square mile. Median household income here is $100,479 and median gross rent $714 a month.
1,581
Population
701
Households
2.3
Avg Household Size
42
Median Age
28%
College-Educated
98%
High-School Grad
15 sq mi
ZIP Area
106
Density / Sq Mi
$100,479
Median Household Income
$54,348
Median Earnings
$714
Median Rent
$140,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Dunreith | — | — |
| Ogden | — | — |
| Greensboro | — | — |
| Raysville | — | — |
Commercial property in Spiceland, IN asks $471/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Spiceland?
Commercial property in Spiceland, IN asks an average of $471 per square foot.
What zoning applies to commercial property in Spiceland?
Spiceland, IN zones 924 acres across 11 districts, of which 28.5% is commercial and 6.8% industrial. The largest single district is Single Family Residential at 31.6% of zoned land. R1 Single Family Residential Districts are established to permit one- (1-) family dwellings in urbanizing areas of the County that may expect to be served by centralized sewer and water facilities in the immediate future. Density shall not exceed two and one-half (2.5) dwelling units per gross acre with sewer services and one (1) dwelling unit per gross acre… Residential zoning covers 64.7% and open space 0%.
Where does Realmo's Spiceland market data come from?
Realmo compiles Spiceland, IN figures from 7 active sale listings, 62 tracked off-market properties, the current Spiceland zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 7 active for-sale and 0 active for-lease listings in Spiceland, 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: 924 zoned acres across 11 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
