Current Use by Public Records
- Land
Property Details for US-24 & Eel Riv Rd
- Lot size
- 22.06 lot acres
- Property type
- Land
- Property subtype
- Industrial properties
Description
This exceptional 22.055-acre commercial and industrial land parcel presents a unique investment opportunity in Peru, Indiana. Strategically located at the southeast corner of US-24 and Eel River Road, this B-3 zoned property enjoys a prime hard corner location at the US-31 and US-24 interchange. The site's high visibility and accessibility make it ideal for a truck stop, gas station, and convenience store development. Significant traffic volume is guaranteed, with 20,647 vehicles per day on US-31 and 13,427 on US-24, according to the Indiana Department of Transportation (INDOT). This location benefits from the proximity to a top-ranked BP travel plaza, which will experience reduced access due to upcoming INDOT improvements on US-31. These improvements are anticipated to negatively impact nearby competitors, further enhancing this site's potential. The property boasts 16-inch water and 15-inch sewer lines running along the bisecting road. Furthermore, this site is advantageously positioned near the under-construction $2.5 billion Stellantis (GM)/Samsung EV battery plant (Phase I), with a planned $3.4 billion Phase II. A retail gap analysis reveals significant market demand within a 25-minute drive, including $101 million for motor vehicles and parts, $69 million for food service, and substantial demand in other retail sectors. An additional 7.76 acres across the street is also available for separate purchase. This is a rare opportunity to capitalize on a high-growth area with exceptional infrastructure and strong market demand. The asking price is $2,750,000.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Peru
- County
- Miami
- State
- Indiana
- Longitude
- -86.0656
- Latitude
- 40.7755
