Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    R 37 Martinsville, IN 46151

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    R 37 Martinsville, IN 46151

    View on Map
    • Land
    • 113.95 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 R 37

    Lot size
    113.95 lot acres
    Property type
    Land

    Description

    This exceptional 113.95-acre commercial land parcel presents a compelling investment opportunity in Morgan County, Indiana. Located on South State Road 37, this property boasts unparalleled visibility and high traffic counts, situated along the heavily trafficked South 69 corridor. The site benefits from an advantageous location with approximately 24,244 vehicles per day passing on Interstate 69, ensuring significant exposure for any future development. The property is zoned for Agricultural use (AG), offering flexibility for a range of commercial ventures. The expansive acreage provides ample space for various projects, from large-scale commercial developments to strategically positioned businesses. This prime location, combined with the substantial lot size and high traffic volume, makes this a rare and highly desirable investment opportunity. The asking price of $2,000,000 reflects the exceptional value and potential of this property. The parcel includes APNs 55-12-24-300-001.001-020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Martinsville
    County
    Morgan
    State
    Indiana
    Longitude
    -86.4839
    Latitude
    39.3703

    Comparable in this City

    • Value Estimation by Request
      1.00 Acre

      383 Grand Valley Blvd

      Land • 1.00 Acre
      383 Grand Valley Blvd, Martinsville, IN 46151
      View Details
    • Value Estimation by Request
      159.27 Acres

      Blue Blf Road/Lincoln Hl Rd

      Land • 159.27 Acres
      0 Blue Blf Road/Lincoln Hl Rd, Martinsville, IN 46151
      View Details
    • Value Estimation by Request
      5.95 Acres

      383 Grand Valley Blvd

      Land • 5.95 Acres
      383 Grand Valley Blvd, Martinsville, IN 46151
      View Details
    • Value Estimation by Request

      Mahalasville Rd

      Land
      0 Mahalasville Rd, Martinsville, IN 46151
      View Details
    • Value Estimation by Request
      5.47 Acres

      Kristi Rd

      Land • 5.47 Acres
      0 Kristi Rd, Martinsville, IN 46151
      View Details
    • Value Estimation by Request
      2.93 Acres

      1313 Morton Ave

      Land • 2.93 Acres
      1313 Morton Ave, Martinsville, IN 46151
      View Details

    Similar Nearby for Sale

    • $135,900
      Pending

      Land For Sale

      Land available in Martinsville, Indiana.
      2 Skunk Hollow Rd, Martinsville, IN 46151
      View Details
    • $100,000
      0.40 Acres

      Waterfront Residential Lots in Martinsville

      Two spacious, waterfront lots with community amenities in Foxcliff South.
      2925 Fox Ct E, Martinsville, IN 46151
      View Details
    • $657,305
      23.90 Acres

      Martinsville Residential Lots For Sale

      23+/- acre residential lots suitable for farming, hunting, or homesites.
      00e S R 37, Martinsville, IN 46151
      View Details
    • $5,800,000
      10.00 Acres

      Prime Commercial Land Opportunity

      10 acre commercial site with development potential in Martinsville, IN.
      00 Wysscraft Ln, Martinsville, IN 46151
      View Details
    • $625,000
      2.71 Acres

      Commercial Land For Sale/Lease

      2.71 acre commercial land parcel in Martinsville, Indiana.
      665 Morton Ave, Martinsville, IN 46151
      View Details
    • $300,000
      1.03 Acres

      Prime Commercial Lot Near I-69

      One-acre commercial lot near I-69 in Martinsville, Indiana.
      555 Commercial Blvd, Martinsville, IN 46151
      View Details

    Similar Nearby for Lease

    • $3,425 /Mo
      56,000 SF

      Martinsville Retail Space Available

      Retail property available for lease in Martinsville, Indiana.
      2028 Burton Ln, Martinsville, IN 46151
      View Details
    • $2,500 /Mo
      2,500 SF

      Versatile Commercial/Industrial Property in Martinsville

      Mixed-use property with high visibility and flexible commercial options.
      400 E Mahalasville Dr, Martinsville, IN 46151
      View Details
    • Contact for pricing

      Retail Space with Interstate Visibility

      Retail space with premium visibility and access from I-69.
      2028-2138 Burton Ln, Martinsville, IN 46151
      View Details
    • Contact for pricing

      IN, Martinsville - Robin Road

      Discover many ways to work your way in Cornerstone Corporate
      1839 Floors, Martinsville, IN 46151
      View Details
    • $3,000 /Mo
      2,116 SF

      Martinsville Office Space For Rent

      Former Farm Credit building with flexible office space available for rent.
      1209 E Morgan St, Martinsville, IN 46151
      View Details
    • Contact for pricing

      Mixed-Use Property with Flexible Space

      Mixed-use property featuring flexible space, offices, and potential expansion.
      1209 E Morgan St, Martinsville, IN 46151
      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.
    R 37
    Martinsville, IN 46151
    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.
    Sign Up Successful!
    You now have access to more from Realmo!