506 Crone Rd Memphis, IN 47143
- Industrial properties
- 4.93 lot acres
Current Use by Public Records
- Industrial properties
Property Details for 506 Crone Rd
- Lot size
- 4.93 lot acres
- Property type
- Industrial properties
Description
This exceptional 4.93-acre industrial property boasts unparalleled visibility and accessibility, directly adjacent to I-65 in Memphis, Indiana. Zoned M-1 light industrial, the land comprises two parcels offering significant development potential. The property's strategic location benefits from high traffic counts due to its proximity to I-65, providing excellent exposure for any business. Further enhancing its value is a currently active billboard generating $450 per month in revenue ($5,400 annually), with a lease expiring April 30th, 2021, requiring 30 days written notice for termination. The seller has chosen not to automatically renew the lease. The recent addition of a Thorntons Fuel Store at the nearby Blue Lick exit has generated increased interest in the area, signaling a positive trend in local development. Permitted uses under Clark County zoning regulations include B2 and B classifications, offering flexibility for a variety of industrial and commercial ventures. This presents a unique opportunity to capitalize on Southern Indiana's burgeoning growth and establish a strong presence in a high-traffic location. The asking price of $350,000 reflects the property's prime location and income-generating potential. This is a rare chance to acquire a well-situated industrial property with immediate revenue generation and significant long-term growth prospects.
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
- Memphis
- County
- Clark
- State
- Indiana
- Longitude
- -85.77278
- Latitude
- 38.48494
