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    Memorial Dr New Castle, IN 47362

    • Land
    • 1.20 lot acres
    For Sale
    View listing
    $250,000
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Memorial Dr

    Lot size
    1.20 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 1.2-acre commercial land parcel presents a remarkable development opportunity in New Castle, Indiana. Situated on N Memorial Drive, this property boasts prime frontage on SR 3, ensuring high visibility and significant traffic exposure for any business. The C-1 zoning allows for a wide range of commercial uses, making it ideal for restaurants, retail establishments, or other commercial ventures. Its strategic location offers significant advantages, with proximity to a newly constructed medical facility and a YMCA, further enhancing its appeal and potential for attracting customers and employees. City utilities are readily available, simplifying the development process. The asking price is $250,000, translating to approximately $208,333.33 per acre, reflecting the exceptional value and potential of this highly desirable location in Henry County. This is a rare chance to acquire a well-positioned commercial lot with excellent visibility and access in a growing area.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Castle
    County
    Henry
    State
    Indiana
    Longitude
    -85.3817
    Latitude
    39.9368

    Comparable in this City

    • Value Estimation by Request
      0.86 Acres

      3167 In-3

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      0.89 Acres

      5223 In-3

      Land • 0.89 Acres
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    • Value Estimation by Request
      281.00 Acres

      0000 Muncie Pike

      Farms • 281.00 Acres
      0000 Muncie Pike, New Castle, IN 47362
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    • Value Estimation by Request
      20.00 Acres

      County Road 275

      Land • 20.00 Acres
      0 County Road 275, New Castle, IN 47362
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    • Value Estimation by Request
      1.84 Acres

      1720 Westbrooke Pl

      Land • 1.84 Acres
      1720 Westbrooke Pl, New Castle, IN 47362
      View Details
    • Value Estimation by Request
      1.00 Acre

      000 Wittenbraker Ave

      Land • 1.00 Acre
      000 Wittenbraker Ave, New Castle, IN 47362
      View Details

    Similar Nearby for Sale

    • $250,000
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      Prime Commercial Land, New Castle, IN

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    • $125,000
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      Wittenbraker Ave Commercial Land

      Prime Henry County location, high traffic.
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      Prime I-70 Commercial Land

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      I-70 Visible Redevelopment Opportunity

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      Versatile Industrial Property Near New Castle

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    Similar Nearby for Lease

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      7,500 SF

      Retail Space in New Castle

      Retail space available for lease in New Castle, Indiana.
      427-501 S Memorial Dr, New Castle, IN 47362
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    • Contact for pricing
      1,848 SF

      Retail Space on Memorial Drive

      Retail space with high visibility and traffic count.
      1902 S Memorial Dr, New Castle, IN 47362
      View Details
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    Memorial Dr
    New Castle, IN 47362
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    Realmo Value Estimation

    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.

    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.

    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
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