Current Use by Public Records
- Land
Property Details for 0 Sec Of Us-31 & Us-24
- Lot size
- 7.76 lot acres
- Property type
- Land
- Property subtype
- Industrial properties
Description
This exceptional 7.76-acre commercial land parcel is strategically located at the southeast corner of US-31 and US-24 in Peru, Indiana, offering unparalleled visibility and access. The B-3 commercial zoning allows for a variety of uses, including a truck stop, gas station, and convenience store, perfectly suited to capitalize on the high volume of traffic on these major trucking routes. With 20,647 vehicles per day on US-31 and 13,427 on US-24, this site presents a significant opportunity for substantial returns. The property benefits from the impending reduction in access for a nearby competitor due to Indiana Department of Transportation (INDOT) improvements on US-31, creating a competitive advantage. Furthermore, the site's proximity to the under-construction $2.5 billion Stellantis/Samsung EV battery plant (with a planned $3.4 billion Phase II) ensures long-term growth potential. Existing infrastructure includes 16-inch water and 15-inch sewer lines along the bisecting road. An adjacent 22-acre parcel is also available for purchase. A retail gap analysis indicates significant market demand for various retail services within a 25-minute drive, further supporting the viability of this development opportunity. The asking price for this prime development site is $1,500,000.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Peru
- County
- Miami
- State
- Indiana
- Longitude
- -86.1279
- Latitude
- 40.7675
