5255 In-3 New Castle, IN 47362
- Warehouses
- 25,404 SF
- 5.78 lot acres
Current Use by Public Records
- Warehouses
Property Details for 5255 In-3
- Year built
- 2018
- Lot size
- 5.78 lot acres
- Property size
- 25,404 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This fee-simple industrial warehouse, totaling 25,404 square feet, presents a compelling redevelopment opportunity. Situated on a 5.78-acre lot in New Castle, Indiana, this single-story, Class B building boasts a 20-foot ceiling height and is zoned for General Business (GB), allowing for diverse commercial and industrial uses. Built in 2018, the property enjoys high visibility along I-70, Exit 123, a major thoroughfare with approximately 40,000 vehicles daily. Its strategic location, two miles south of the New Castle-Henry County Industrial Park, benefits from over $200 million in recent investments and the creation of over 1,000 jobs in the area. The surrounding area offers a strong demographic profile, with 41,000 people within a 10-mile radius and an average household income of $63,000. This prime location, combined with the expansive lot size, makes this property ideal for expansion, re-tenanting, or complete redevelopment, leveraging the existing infrastructure and the potential benefits of a Tax Increment Finance (TIF) District. The asking price is $3,800,000, translating to $149.58 per square foot. This presents a unique chance to capitalize on a thriving industrial market and a highly desirable location. The property's previous use as a gun range offers a blank canvas for a variety of future uses.
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
- New Castle
- County
- Henry
- State
- Indiana
- Longitude
- -85.4122
- Latitude
- 39.8555
