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Property profile & analytics
OFF-MARKET
Estimated value
$1,540,000
Retail space
1240 State St, Greenfield, IN 46140-1055
Entity Owned
Absentee Owner
Free & Clear
Property ID
US31-1217935
Property summary
AI-generated overview
McKenzie Plaza, located at 1240 N State St, Greenfield, IN 46140, presents a unique opportunity in the thriving Indy - East submarket of Hancock County. This Class A, single-tenant, free-standing retail building boasts a total of 38,714 square feet, with 22,000 square feet currently vacant and readily divisible to suit various business needs. Built in 1988, the property sits on a 3.46-acre lot and features 74 parking spaces, ensuring ample customer convenience. The building's strategic location at the signalized intersection of State Road 9 (SR9) and N State Street provides exceptional visibility and accessibility. Multiple access points via McKenzie Road and State Street/SR9 optimize traffic flow. Currently, successful businesses such as Ace Hardware, McAlister's Deli, and Forum Credit Union are thriving within the plaza, demonstrating the location's strong retail appeal. The property offers a single-story design with no elevators. This exceptional retail space is ready for immediate occupancy and presents a compelling investment opportunity in a high-demand area.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1988
Construction
TYPE NOT SPECIFIED
Total area
38,714 SF
Lot
3.46 ac (150,761 SF)
APN
30-07-29-403-003.000-009
UPID
US31-1217935
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$930k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.15M
Blend (final)
Blend
$1.54M
Owner & transaction history
Greenfield Banking Company
Greenfield Banking Company
since 2025
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Greenfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Greenfield submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$930,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.54M
Range $1.39M – $1.69M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$40 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$38,046
Tax year 2023
Assessed value
$1,818,000
Assessed 2023
Previous assessed
$1,818,000
+0.0% YoY
Effective rate
2.09%
On assessed value
Assessed land
$778,100
Assessed improvement
$1,039,900
Land market value
$778,100
Improvement market value
$1,039,900
Total market value
$1,818,000
Applied tax rate
13.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1988
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
1
Total area
38,714 SF
Lot
3.46 ac (150,761 SF)
APN
30-07-29-403-003.000-009
UPID
US31-1217935
Jurisdiction
HANCOCK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1988
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Buildings
2
Lot
3.46 ac
Current owner
From public records · entity-resolved
Greenfield Banking Company
Entity
Free & Clear · 0 yrs held
Mailing address
749 N STATE ST, GREENFIELD, IN 46140-1405
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 29, 2025
$5,900,000
Greenfield Banking Company
Greenwalt-mkp LLC
Deed
related
—
Jul 21, 2022
—
Greenwalt Mkp LLC
Greenfield Ssg LLC
Warranty Deed
—
Jan 26, 2007
—
Msi North Grennfield Grecery LLC
Marsh Supermarkets INC
Special Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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