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    Property profile & analytics

    1641 W County Line Rd Greenwood, IN 46142

    • Retail properties
    • 0.85 lot acres
    For Sale
    View listing
    $350,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0373535
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • T&T Pet Resort / Pet Boarding Service

    Property Details for 1641 W County Line Rd

    Year built
    1951
    Lot size
    0.85 lot acres
    Property type
    Retail properties

    Description

    This exceptional investment opportunity encompasses two adjacent commercial properties totaling nearly two acres of land situated at 1641 and 1655 W County Line Road, Greenwood, Indiana. The combined properties offer significant potential for commercial development or redevelopment. The land is strategically located on a busy section of W County Line Road, providing excellent visibility and accessibility, and is conveniently situated just off Highway 135, ensuring high traffic volume. The combined acreage offers approximately 208 feet of frontage along W County Line Road, extending 375 feet deep, resulting in a substantial 1.74 acres of developable land. The properties are being sold together, as-is, for a total price of $750,000. The Greenwood zoning designation for this land is CM. This presents a unique chance to acquire a significant commercial land holding in a prime Greenwood location. The asking price reflects the value of the land itself, presenting a compelling opportunity for investors seeking to capitalize on the area's growth potential. The existing improvements on the properties are considered secondary to the land value. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Greenwood
    County
    Johnson
    State
    Indiana
    Longitude
    -86.15616
    Latitude
    39.63489

    Comparable in this City

    • $998,500
      1.97 Acres

      Center Grove Commercial Land

      High-traffic retail/mixed-use lots
      3124 Smith Valley Rd, Greenwood, IN 46142
      View Details
    • $2,399,000
      5,234 SF

      Historic Greenwood Retail Gem

      Iconic 1850s building, 5,234 sqft, 1.88 acres.
      243 Madison Ave, Greenwood, IN 46142
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    • $995,000
      2.00 Acres

      Greenwood Retail Center - 2 Acres

      High-visibility retail space, I-69 access.
      3124 Smith Valley Rd, Greenwood, IN 46142
      View Details
    • $1,800,000
      5,000 SF

      Greenwood Retail Space - Prime Location

      High-traffic retail space, 5,000 sq ft, 2 acres.
      1000 State Road 135, Greenwood, IN 46142
      View Details
    • $749,900
      2,660 SF

      Downtown Greenwood Retail Gem

      Main Street retail w/upstairs office
      221 Main St, Greenwood, IN 46142
      View Details
    • $1,575,000
      5,000 SF

      Greenwood Retail Opportunity

      Retail property for sale in Greenwood, Indiana.
      1000 N State Road 135, Greenwood, IN 46142
      View Details

    Similar Nearby for Sale

    • $749,900
      2,660 SF

      Downtown Greenwood Retail Gem

      Main Street retail w/upstairs office
      221 Main St, Greenwood, IN 46142
      View Details
    • $998,500
      1.97 Acres

      Center Grove Commercial Land

      High-traffic retail/mixed-use lots
      3124 Smith Valley Rd, Greenwood, IN 46142
      View Details
    • $2,399,000
      5,234 SF

      Historic Greenwood Retail Gem

      Iconic 1850s building, 5,234 sqft, 1.88 acres.
      243 Madison Ave, Greenwood, IN 46142
      View Details
    • $995,000
      2.00 Acres

      Greenwood Retail Center - 2 Acres

      High-visibility retail space, I-69 access.
      3124 Smith Valley Rd, Greenwood, IN 46142
      View Details
    • $1,800,000
      5,000 SF

      Greenwood Retail Space - Prime Location

      High-traffic retail space, 5,000 sq ft, 2 acres.
      1000 State Road 135, Greenwood, IN 46142
      View Details
    • $1,575,000
      5,000 SF

      Greenwood Retail Opportunity

      Retail property for sale in Greenwood, Indiana.
      1000 N State Road 135, Greenwood, IN 46142
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      60,452 SF

      Shops at Center Grove Retail Space

      Prime Johnson County retail, multiple suites available.
      0 Smith Vly Rd & Morgantown Rd, Greenwood, IN 46142
      View Details
    • Contact for pricing
      6,787 SF

      Retail Space Near Greenwood Park

      Neighborhood shopping center with high visibility and convenient access.
      745 U.S Hwy 31 North, Greenwood, IN 46142
      View Details
    • Contact for pricing
      2,352 SF

      Greenwood Retail Spaces Available

      Retail and restaurant spaces available in Greenwood, Indiana.
      1100 N State Road 135, Greenwood, IN 46142
      View Details
    • $1,065 /Mo
      10,487 SF

      Greenwood Retail Space Available

      Retail space featuring an open layout, restroom, and stock room.
      1678 Stonegate Dr, Greenwood, IN 46142
      View Details
    • $18 SF/Yr
      91,416 SF

      Allyne Parke Retail Space Available

      Greenwood, IN Retail Center: High Traffic
      1001 State Road 135, Greenwood, IN 46142
      View Details
    • $6,500 /Mo
      4,524 SF

      Downtown Greenwood Retail Space Available

      Charming 4,500+ SF storefront in the heart of Greenwood.
      220 W Main St, Greenwood, IN 46142
      View Details
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    1641 W County Line Rd
    Greenwood, IN 46142
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    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
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