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Property profile & analytics
OFF-MARKET Estimated value $510,000
Retail space

2010 Memorial Dr New Castle, IN 47362-1220

17,488 SF 1.3 ac lot Built 1960
Entity Owned 11-yr Hold Free & Clear
Property ID
US31-1767299
Property summary
AI-generated overview

This exceptional 16,094 square foot commercial property presents a unique investment opportunity in New Castle, Indiana. Situated on a highly trafficked section of South Memorial Drive (State Road 3), this single-tenant building boasts excellent visibility and accessibility, making it ideal for a variety of businesses. The property's classification as a Class B building reflects its solid construction and functional layout. The building itself sits on a sizable 1.3-acre lot, offering ample space and potential for expansion or outdoor use. Inside, the generous square footage is complemented by a large overhead door, perfect for loading and unloading, and a substantial storage area, catering to diverse operational needs. The property's dual zoning as both traditional and creative office space allows for flexibility in tenant selection and business types. This versatile building is perfect for a company seeking a prominent location with significant space and convenient access. Located in Henry County, this property offers a strategic position within a thriving community. The combination of size, location, and features makes this a truly compelling opportunity for a discerning buyer. This is a rare chance to acquire a substantial commercial property in a high-demand area.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1960
Construction WOOD
Total area 17,488 SF
Lot 1.3 ac (56,628 SF)
APN 33-12-22-130-133.000-016
UPID US31-1767299
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
$390k
CAP Approach CAP
by Request
Comparable Approach Comparable
$630k
Blend (final) Blend
$510k
Owner & transaction history
Kalpritt Investments LLC · 11 yrs held
Kalpritt Investments LLC
since 2015
1 recorded transaction
2015
$200,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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