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    5223 In-3 New Castle, IN 47362

    • Land
    • 0.89 lot acres
    For Sale
    View listing
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 5223 In-3

    Lot size
    0.89 lot acres
    Property type
    Land

    Description

    This exceptional commercial land offering presents a unique investment opportunity. Strategically located just north of I-70, exit 123, near New Castle, Indiana, this property boasts high visibility with an impressive 42,076 AADT. The listing encompasses three parcels totaling approximately 10.6 acres. Parcel 1, spanning 3.05 acres, is zoned HB1 (Highway Business 1). Parcels 2 and 3, totaling 8.55 acres, are zoned GB (General Business). Parcel 2, measuring 0.89 acres, is a former gas station with a state-issued NFA. This multi-parcel offering provides flexibility

    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
    -85.411
    Latitude
    39.8561

    Comparable in this City

    • Value Estimation by Request
      23.00 Acres

      County Road 150

      Land • 23.00 Acres
      0 County Road 150, New Castle, IN 47362
      View Details
    • Value Estimation by Request
      0.86 Acres

      3167 In-3

      Land • 0.86 Acres
      3167 In-3, New Castle, IN 47362
      View Details
    • Value Estimation by Request
      281.00 Acres

      0000 Muncie Pike

      Farms • 281.00 Acres
      0000 Muncie Pike, 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
    • 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

    Similar Nearby for Sale

    • $125,000
      1.00 Acre

      Wittenbraker Ave Commercial Land

      Prime Henry County location, high traffic.
      000 Wittenbraker Ave, 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
    • 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
    • $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
    • $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
    • 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

    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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    5223 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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