Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    State Road 135 Greenwood, IN 46143

    • Land
    • 0.87 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 State Road 135

    Lot size
    0.87 lot acres
    Property type
    Land

    Description

    This exceptional commercial land opportunity, located in Greenwood, Indiana, offers .87 to 7.2 acres of buildable land zoned CM. Situated in Johnson County's rapidly expanding Center Grove School District, this property benefits from its prime location within the State Road 135 trade area. The planned widening of Stones Crossing Road will further enhance accessibility, placing the site at the heart of a new east-west corridor connecting major highways including I-65, US-31, State Road 135, and the recently completed I-69. The area boasts significant recent development, including a large Franciscan Health medical complex, a 292-unit apartment complex (The Flats at Stones Crossing), and a nearing-completion 120-unit 55+ community (Grove Crossing). The current owner is prepared to accommodate various development scenarios, including build-to-suit projects, subdivision, outright sale, or ground leases to meet specific buyer needs. APN: 41-04-12-033-024.000-041. This presents a unique chance to capitalize on the explosive growth in this highly desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Greenwood
    County
    Johnson
    State
    Indiana
    Longitude
    -86.1591
    Latitude
    39.5807

    Comparable in this City

    • Value Estimation by Request
      23.00 Acres

      2456 Us 31

      Land • 23.00 Acres
      2456 Us 31, Greenwood, IN 46143
      View Details
    • Value Estimation by Request
      1.49 Acres

      Worthsville Rd. & Sheek Rd

      Land • 1.49 Acres
      0 Worthsville Rd. & Sheek Rd, Greenwood, IN 46143
      View Details
    • Value Estimation by Request
      55.00 Acres

      55 +/- Acres Expansive Est

      Land • 55.00 Acres
      55 +/- Acres Expansive Est, Greenwood, IN 46143
      View Details
    • Value Estimation by Request
      2.00 Acres

      Commerce Parkway West Dr

      Land • 2.00 Acres
      0 Commerce Parkway West Dr, Greenwood, IN 46143
      View Details
    • Value Estimation by Request
      1.49 Acres

      Worthsville Rd & Sheek Rd

      Land • 1 SF
      0 Worthsville Rd & Sheek Rd, Greenwood, IN 46143
      View Details
    • Value Estimation by Request
      2.51 Acres

      1050 State Road 135

      Land • 2.51 Acres
      1050 State Road 135, Greenwood, IN 46143
      View Details

    Similar Nearby for Sale

    • $4,500,000
      7.73 Acres

      Greenwood Commercial Land - Redevelopment Opportunity

      7.73 Acres, I-65 Access, Prime Location
      1117 Main St, Greenwood, IN 46143
      View Details
    • $799,000
      4.06 Acres

      Greenwood Commercial Land - 4 Acres

      Prime Greenwood location, high-traffic area, ideal for development.
      601 Emerson Ave, Greenwood, IN 46143
      View Details
    • Contact for pricing
      52.24 Acres

      Prime Greenwood IN Land - 52 Acres

      ±52 Acres Commercial/Industrial Land, Greenwood, IN
      2341 Worthsville Rd, Greenwood, IN 46143
      View Details
    • Contact for pricing

      Greenwood IN Pad Site Opportunity

      High-traffic location, Sam's Club outlot.
      1101 Windhorst Way, Greenwood, IN 46143
      View Details
    • $725,000
      4,000 SF

      Prime Greenwood Commercial Land

      1.96 Acres, 4,000 SF, C-2 Zoning
      1490 Olive Branch Parke Ln, Greenwood, IN 46143
      View Details
    • $2,300,000
      7.69 Acres

      Prime Greenwood Commercial Land

      7.69-acre IC-zoned lot, I-65 access.
      1761 Main St, Greenwood, IN 46143
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Greenwood Retail Land Opportunity

      High-traffic retail land, 1.49 acres.
      0 Worthsville Rd & Sheek Rd, Greenwood, IN 46143
      View Details
    • Contact for pricing

      Land Available in Greenwood, IN

      Five parcels of land for rent in Greenwood, Indiana.
      N Graham Rd, Greenwood, IN 46143
      View Details
    • Contact for pricing

      Land Available For Lease

      Up to 13 acres available for lease or build-to-suit.
      State Road 37, Greenwood, IN 46143
      View Details
    • Contact for pricing

      Greenwood Land Parcels Available

      Five land parcels for rent in Greenwood, Indiana.
      1120 N Graham Rd, Greenwood, IN 46143
      View Details
    • Contact for pricing
      81,436 SF

      Summerfield Crossing Retail Center

      Greenwood, IN shopping center; 6 spaces available
      2200 Independence Dr, Greenwood, IN 46143
      View Details
    • $7 SF/Yr
      241,800 SF

      Modern Industrial Distribution Center

      241,800 SF Distribution Facility - Space Available
      497 Chaney Ave, Greenwood, IN 46143
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    State Road 135
    Greenwood, IN 46143
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.