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    Brownsburg IN Green St Brownsburg, IN 46112
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    Brownsburg IN Green St Brownsburg, IN 46112

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    • Land
    • 11.27 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for Brownsburg IN Green St

    Lot size
    11.27 lot acres
    Property type
    Land
    Property subtype
    High-rise multifamily apartments

    Description

    This exceptional 11.27-acre site, located at the intersection of Northfield Drive and South Green Street in Brownsburg, Indiana, presents a unique opportunity for multifamily development. The property is fully entitled and shovel-ready, approved for a 180-unit multifamily project. Situated in a rapidly expanding area of Brownsburg, this land boasts a prime location near major employers, including Fortune 500 companies. Brownsburg's reputation as one of Indiana's best places to live, recognized by CNN Money magazine, is further enhanced by its low crime rate, robust economy, affordable housing, and highly-rated schools. The property's APN is 32-07-26-105-002.000-016, and its zoning permits multifamily construction. This is an ideal investment for developers seeking to capitalize on the thriving Brownsburg market and its strong demand for multifamily housing. The 46112 zip code offers easy access to amenities and major transportation routes. This fully entitled site minimizes development hurdles and allows for a swift commencement of construction. Don't miss this chance to build a thriving multifamily community in one of Indiana's most desirable locations. The asking price is $1,980,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Brownsburg
    County
    Hendricks
    State
    Indiana
    Longitude
    -86.3925
    Latitude
    39.8573

    Comparable in this City

    • Value Estimation by Request
      2,905 SF

      114 118th N Adams St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,905 SF
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    • Value Estimation
      $810,000
      7,568 SF

      2860 Hayward Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 7,568 SF
      2860 Hayward Ave, Brownsburg, IN 46112-0179
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    • Value Estimation by Request
      4,476 SF

      2 Tilden Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,476 SF
      2 Tilden Dr, Brownsburg, IN 46112-1648
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    • Value Estimation by Request
      1,325 SF

      510 Enderly Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,325 SF
      510 Enderly Ave, Brownsburg, IN 46112-1145
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    • Value Estimation by Request
      23.50 Acres

      County Road 625

      Farms • 23.50 Acres
      0 County Road 625, Brownsburg, IN 46112
      View Details
    • Value Estimation by Request
      4.60 Acres

      6310 County Road 625

      Mixed-use properties • 4.60 Acres
      6310 County Road 625, Brownsburg, IN 46112
      View Details

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      Prime Land Assemblage Opportunity

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      Land Available in Brownsburg, IN

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    • $3,000,000

      Prime Development Land on SR 267

      High-visibility 7.5-acre site in Brownsburg, Indiana, for mixed-use development.
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      Prime Land in High-Growth Area

      Land parcel in high-growth area near commercial developments.
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    Similar Nearby for Lease

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      Brownsburg Commercial Land for Lease

      Land for lease in growing Indianapolis suburb near new developments.
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      Land for Lease in Brownsburg

      Land available for lease in a growing Indianapolis suburb.
      620 West Northfield Dr, Brownsburg, IN 46112
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      Land for Future Development

      Land available in Brownsburg, Indiana, near Indianapolis.
      601 West Northfield Dr, Brownsburg, IN 46112
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      Development Land in Growing Area

      1.75 acres for commercial development in Brownsburg, Indiana.
      Hornaday Rd, Brownsburg, IN 46112
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      Retail Space in Brownsburg

      Retail space available in established Brownsburg trade area.
      812 E Main St, Brownsburg, IN 46112
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      Office Space Available For Lease

      Office property available for lease in Brownsburg, Indiana.
      7950 Ortho Ln, Brownsburg, IN 46112
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    Brownsburg, IN 46112
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    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.

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