Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    700 700 New Palestine, IN 46163

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    700 700 New Palestine, IN 46163

    View on Map
    • Land
    • 12.60 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 700 700

    Lot size
    12.60 lot acres
    Property type
    Land

    Description

    This exceptional 12.6-acre commercial lot presents a remarkable development opportunity in New Palestine, Indiana. Situated on a highly visible corner, this property boasts significant frontage along a heavily traveled section of US 52, providing unparalleled exposure to daily traffic between Indianapolis and New Palestine. The land is currently bare ground, ready for immediate development, eliminating the need for costly site preparation. Its Ag zoning allows for a variety of uses, making it ideal for a range of commercial ventures. Potential uses include, but are not limited to, a neighborhood grocery store, mixed-use development, car dealership, or healthcare facility. The strategic location and ample acreage offer significant potential for high returns on investment. The property's address is S 700 W, New Palestine, IN 46163, within Hancock County. Its precise coordinates are latitude 39.7449569 and longitude -85.9328831. This is a rare opportunity to acquire a prime commercial lot in a rapidly growing area. Don't miss out on this chance to capitalize on the significant potential of this exceptional property. Broker co-op is available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Palestine
    County
    Hancock
    State
    Indiana
    Longitude
    -85.9329
    Latitude
    39.745

    Comparable in this City

    • Value Estimation by Request
      18.55 Acres

      & County Line Rd

      Land • 18.55 Acres
      0 & County Line Rd, New Palestine, IN 46163
      View Details
    • Value Estimation by Request
      12,600 SF

      600 600

      Land • 12,600 SF
      600 600, New Palestine, IN 46163
      View Details
    • Value Estimation by Request
      8,640 SF

      16 Westside Dr

      SHOW ROOM, WAREHOUSE • 8,640 SF
      16 Westside Dr, New Palestine, IN 46163-1113
      View Details
    • Value Estimation by Request
      11,121 SF

      34 Depot St

      COMMERCIAL (GENERAL) • 11,121 SF
      34 Depot St, New Palestine, IN 46163-8684
      View Details
    • Value Estimation by Request
      0.01 Acres

      4413 400th W

      VACANT COMMERCIAL LAND • 0.01 Acres
      4413 400th W, New Palestine, IN 46163-9610
      View Details
    • Value Estimation by Request
      0.85 Acres

      4007 600th W

      VACANT COMMERCIAL LAND • 0.85 Acres
      4007 600th W, New Palestine, IN 46163-9123
      View Details

    Similar Nearby for Sale

    • $349,000
      Pending

      Residential Land in New Palestine

      10-acre lot perfect for building a dream home.
      5763 S 675 W, New Palestine, IN 46163
      View Details
    • Contact for pricing

      Land in Growing Community

      Commercial land in a growing community, 13 miles from Indianapolis.
      S 700 W, New Palestine, IN 46163
      View Details
    • $2,500,000
      10,454 SF

      Adaptable Church Building For Sale

      One-story, 10,454 SF church on 8.69 acres near New Palestine.
      4053 S 650 W, New Palestine, IN 46163
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Endcap with Drive Thru

      Retail space with drive-thru in growing business park.
      600 S 600 W & US 52, New Palestine, IN 46163
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail spaces available, ranging from 7,000 to 43,996 SqFt.
      52 And 600 W, New Palestine, IN 46163
      View Details
    • Contact for pricing
      14,250 SF

      Upscale Health and Wellness Center

      Newly constructed 108,000 SF health and wellness center.
      S 600 W, New Palestine, IN 46163
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    700 700
    New Palestine, IN 46163
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!