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    3167 In-3 New Castle, IN 47362

    • Land
    • 0.86 lot acres
    OFF-MARKET
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 3167 In-3

    Lot size
    0.86 lot acres
    Property type
    Land

    Description

    This exceptional 0.86-acre commercial land parcel presents a unique investment opportunity in New Castle, Indiana. Situated directly in front of the only Walmart Supercenter in Henry County, this outparcel benefits from the high volume of traffic generated by this major retailer. The property boasts prime frontage on SR 3/S. Memorial Drive, a heavily trafficked thoroughfare, and features a signalized entry for convenient access. Its location in the county seat ensures high visibility and accessibility. The surrounding area is vibrant with a mix of retail, restaurant, and educational establishments, including well-known national chains such as GameStop, Sally Beauty, White Castle, and Steak & Shake, as well as Ivy Tech Community College. This strategic location offers significant potential for a variety of commercial uses, capitalizing on the substantial foot and vehicle traffic generated by the adjacent Walmart and neighboring businesses. The property's size and visibility make it an ideal site for a variety of commercial developments. The address is 3167 IN-3, New Castle, IN 47362, within Henry County.

    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
    -85.3889
    Latitude
    39.8869

    Comparable in this City

    • Value Estimation by Request
      0.89 Acres

      5223 In-3

      Land • 0.89 Acres
      5223 In-3, New Castle, IN 47362
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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
      1.00 Acre

      000 Wittenbraker Ave

      Land • 1.00 Acre
      000 Wittenbraker Ave, New Castle, IN 47362
      View Details
    • Value Estimation by Request
      1.20 Acres

      Memorial Dr

      Land • 1.20 Acres
      0 Memorial Dr, New Castle, IN 47362
      View Details
    • Value Estimation by Request
      20.00 Acres

      County Road 275

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

      1720 Westbrooke Pl

      Land • 1.84 Acres
      1720 Westbrooke Pl, New Castle, IN 47362
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.89 Acres

      Prime I-70 Commercial Land

      High-traffic location, multiple parcels available.
      5223 In-3, New Castle, IN 47362
      View Details
    • $250,000
      1.20 Acres

      Prime Commercial Land, New Castle, IN

      1.2-acre lot, high visibility, C-1 zoning.
      0 Memorial Dr, New Castle, IN 47362
      View Details
    • $125,000
      1.00 Acre

      Wittenbraker Ave Commercial Land

      Prime Henry County location, high traffic.
      000 Wittenbraker Ave, New Castle, IN 47362
      View Details
    • Contact for pricing

      New Castle Land Parcels

      Three parcels totaling 10.6 AC near I-70 for sale.
      5223 Indiana 3, New Castle, IN 47362
      View Details
    • $1,500,000

      Land Near I-70 Interchange

      Spacious land parcel near I-70, suitable for various developments.
      E County Road 400 S, New Castle, IN 47362
      View Details
    • $3,300,000
      25,404 SF

      I-70 Visible Redevelopment Opportunity

      5.7 acres with high visibility and redevelopment potential.
      5243 S State Road 3, New Castle, IN 47362
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      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
      View Details
    • 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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    3167 In-3
    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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