1651 E Us Highway 40 Greencastle, IN 46135
This exceptional retail property, located at 1651 E US Highway 40 in Greencastle, Indiana, presents a unique investment opportunity. The 4.89-acre lot boasts a highly desirable corner location with exceptionally high traffic counts, ensuring maximum visibility and accessibility for any business. The property comprises two parcels totaling 4.89 acres: one 2.95 acres and the other 1.94 acres. Significant improvements include a substantial 60x42 pole barn constructed in 1987. This barn features a poured concrete floor, electricity, heat, and a large overhead service door, offering ample storage or workshop space. An older building, constructed in 1960, is also present on the site and offers potential for redevelopment or repurposing. The property benefits from convenient access, with entrances from both US Highway 40 (including a dedicated turning lane) and US 231. The existing building on the front left portion of the property may qualify for boundary grandfather provisions, offering flexibility for future development plans. This property is listed at $3,000,000 and represents a compelling opportunity for businesses seeking a high-visibility location with substantial land and existing structures. The combination of high traffic, ample space, and convenient access makes this an ideal location for a variety of retail ventures.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
ZO01 · Greencastle, INGreencastle. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.