700 State Road 28 Alexandria, IN 46001
- Land
- 460.00 lot acres
Current Use by Public Records
- Land
Property Details for 700 State Road 28
- Lot size
- 460.00 lot acres
- Property type
- Land
- Property subtype
- Industrial properties
Description
This exceptional 460-acre industrial land parcel, located at 700 E State Rd 28, Alexandria, IN 46001 (40.2782699, -85.6590404), presents a significant investment opportunity. Currently zoned agricultural, rezoning to General Industrial (GI) is anticipated to proceed swiftly, facilitating expedited development. The property is privately owned and situated within Madison County, offering potential annexation into the City of Alexandria for streamlined permitting, incentives, and utility access. The asking price is $25,300,000, translating to $55,000 per acre. Tax rates include Monroe Township at 2.1398% and Alexandria City at 5.1525%, with an industrial tax cap of 3%. Utilities are provided by Indiana & Michigan Power, an AEP Company. Rail access is available via a switch off the Norfolk Southern (NS) mainline, with estimated connection costs ranging from $300,000 to $350,000 (NS owned). Additional track beyond the switch is privately owned, and a private rail contractor can provide inside switch-off spur connections for approximately $50,000. New rail track construction is estimated at $150-$200 per foot (excluding significant grading). This prime location offers unparalleled potential for large-scale industrial development. The property is managed by MCED on behalf of 11 private owners across 16 parcels. An air permit is in place through the Indiana Department of Environmental Management (IDEM).
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Alexandria
- County
- Madison
- State
- Indiana
- Longitude
- -85.659
- Latitude
- 40.2783
