22 New Rd Greenfield, IN 46140-1090
Property profile & analytics
22 New Rd Greenfield, IN 46140-1090
- Warehouses
- 43,527 SF
- 6.54 lot acres
Property ID
US31-0868869
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.
Location Intelligence
Current Use by Public Records
- Warehouses
Property Details for 22 New Rd
- Year built
- 1990
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 6.54 lot acres
- Property size
- 43,527 SF
- Property type
- Warehouses
- APN
- 30-07-20-401-003.000-009
- APU
- 300720401003000009
Description
This exceptional investment opportunity presents a fee-simple, 43,500 square foot industrial property located at 22 W New Rd, Greenfield, IN 46140. The property is situated on a substantial 6.54-acre lot within the Indianapolis MSA, offering significant potential for future expansion or development. Currently operating under a 20-year absolute NNN lease (commencing October 1, 2019, and expiring September 30, 2039), with 14.9 years remaining, this single-tenant building boasts 100% occupancy and a strong tenant profile. The lease includes 10% rent bumps every five years, ensuring consistent income growth. The property generates a substantial net operating income (NOI) of $359,098, resulting in an attractive 8.50% cap rate. The strategic location at the signalized intersection of N State Street and W New Road provides excellent visibility and accessibility, benefiting from high traffic counts exceeding 25,000 AADT. Surrounding the property are numerous established retailers, including Walmart, Home Depot, and Kroger, further enhancing its desirability. The property is also situated in a strong demographic area with a population of 33,000 and an average household income of approximately $78,000 within a 5-mile radius. The lease includes two, five-year options, providing additional long-term security. Assumable financing at 4.5% is available. This is a rare opportunity to acquire a high-performing, low-maintenance industrial asset with significant upside potential. Asking price: $4,225,000.
Value Estimations
based on Realmo’s proprietary methodology
-
Alternative Use
- Use
- Estimation
- WAREHOUSE, STORAGE
- $1,340,000 Current use
- AUTO REPAIR, GARAGE
- $2,340,000 Change: +74% Conversion: Easy
- NEIGHBORHOOD: SHOPPING CENTER
- $1,725,000 Change: +28% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Greenfield
- County
- Hancock
- State
- Indiana
- Longitude
- -85.7717
- Latitude
- 39.8147
- CBSA code
- 26900
- CBSA name
- INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$61,031
$1,788,600
$1,200,600
$2,989,200
-
$1,788,600
$1,200,600
$2,989,200
