Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2807 State Rd 135 Greenwood, IN 46143-9604

    • Commercial land
    • 2,304 SF
    • 7.06 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-3296814
    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

    • Commercial land

    Property Details for 2807 State Rd 135

    Year built
    1986
    Lot size
    7.06 lot acres
    Property size
    2,304 SF
    Property type
    Commercial land
    APN
    41-04-13-022-007.000-040
    APU
    410413022007000040

    Description

    This exceptional commercial land offering in Greenwood, Indiana, presents a unique investment opportunity within Johnson County's fastest-growing area. Located at the intersection of State Road 135 and St. Clare Way, this property boasts a strategic position near a planned $50 million, 100,000 square foot Franciscan Health medical complex and a new 292-unit apartment complex (targeted opening summer 2022). The site benefits from its proximity to over 3,000 planned new homes within a 5-mile radius, solidifying its position in a high-growth residential corridor. Future infrastructure improvements, including the widening of Stones Crossing Road, will further enhance accessibility and visibility, placing this property at the heart of a new east/west corridor connecting I-65, US 31, State Road 135, and the under-construction I-69. The available land parcels range from 1.3 to 41 acres, zoned CM, providing flexibility for a variety of commercial developments. Several parcels are currently pending sale, highlighting the strong market demand. Contact us today to explore the potential of this exceptional investment opportunity. Specific lot availability and sizes should be confirmed.

    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
    -86.1579
    Latitude
    39.5762
    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
    $24,666
    $1,166,900
    $0.00
    $1,166,900
    -
    $1,166,900
    $0.00
    $1,166,900

    Comparable in this City

    • Value Estimation by Request
      1.29 Acres

      700 Us Hwy 31st S

      VACANT COMMERCIAL LAND • 1.29 Acres
      700 Us Hwy 31st S, Greenwood, IN 46143-2401
      View Details
    • Value Estimation by Request
      0.15 Acres

      Smith Vly Rd

      VACANT COMMERCIAL LAND • 0.15 Acres
      Smith Vly Rd, Greenwood, IN 46143
      View Details
    • Value Estimation by Request
      0.31 Acres

      Smith Vly Rd

      VACANT COMMERCIAL LAND • 0.31 Acres
      Smith Vly Rd, Greenwood, IN 46143
      View Details
    • Value Estimation by Request
      0.24 Acres

      705 State Rd 135

      VACANT COMMERCIAL LAND • 0.24 Acres
      705 State Rd 135, Greenwood, IN 46143-9411
      View Details
    • Value Estimation by Request
      0.09 Acres

      880 Us Hwy 31st S

      VACANT COMMERCIAL LAND • 0.09 Acres
      880 Us Hwy 31st S, Greenwood, IN 46143-2403
      View Details
    • Value Estimation by Request
      0.23 Acres

      498 White House S Dr

      VACANT COMMERCIAL LAND • 0.23 Acres
      498 White House S Dr, Greenwood, IN 46143-1641
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Greenwood Development Land Opportunity

      60 acres of prime development land in Greenwood, Indiana.
      3310 Rocklane Rd, Greenwood, IN 46143
      View Details
    • $3,399,620
      69.38 Acres

      Greenwood, IN Residential Lots

      Development opportunity for single-family homes near I-69 and SR 144.
      200 Blf Crk Pkwy, Greenwood, IN 46143
      View Details
    • $7,300,000
      62.24 Acres

      62.24 Acres in Greenwood, IN

      Unimproved land suitable for mixed-use development or business headquarters.
      W County Rd 144, Greenwood, IN 46143
      View Details
    • $799,000

      Commercial Development Opportunity in Greenwood

      Two-story building and pole barn on 2+ acres.
      774 S Morgantown Rd, Greenwood, IN 46143
      View Details
    • Contact for pricing

      Prime Land SR 135 Frontage

      105 acres at SR 135 & Whiteland Rd, Greenwood, IN
      5391 N State Road 135, Greenwood, IN 46143
      View Details
    • $822,480

      Greenwood Land I-65 Visibility

      2.384 AC lot ideal for various commercial uses.
      Greenwood Springs Blvd, Greenwood, IN 46143
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land Available in Greenwood, IN

      Five parcels of land for rent in Greenwood, Indiana.
      N Graham Rd, Greenwood, IN 46143
      View Details
    • Contact for pricing

      Land Available For Lease

      Up to 13 acres available for lease or build-to-suit.
      State Road 37, Greenwood, IN 46143
      View Details
    • Contact for pricing

      Greenwood Land Parcels Available

      Five land parcels for rent in Greenwood, Indiana.
      1120 N Graham Rd, Greenwood, IN 46143
      View Details
    • Contact for pricing
      1 SF

      Greenwood Retail Land Opportunity

      High-traffic retail land, 1.49 acres.
      0 Worthsville Rd & Sheek Rd, Greenwood, IN 46143
      View Details
    • $7 SF/Yr
      78,394 SF

      Greenwood Warehouse with Tax Abatement

      78,394 SF warehouse with tax abatement and highway access.
      2000 Southtech Dr, Greenwood, IN 46143
      View Details
    • Contact for pricing
      511,680 SF

      Southpoint Two Industrial Space

      511,680 SF industrial space available for lease.
      764 N Graham Rd, Greenwood, IN 46143
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2807 State Rd 135
    Greenwood, IN 46143-9604
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.