Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2962 500th N Whiteland, IN 46184-9708
    Back to Search
    Property profile & analytics

    2962 500th N, Whiteland, IN 46184-9708

    View on Map
    • Commercial land
    • 1.17 lot acres
    Off-Market
    Property ID
    US31-0661157
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • McDonald's / Restaurant / Take-out & Catering
    • Pilot / Gas Station
    • Pilot Travel Center / Parking Lot & Garage / Gas Station
    • Road Kings Fleet Services LLC / Auto Repair Shop
    • PJ Fresh / Restaurant / Take-out & Catering

    Property Details for 2962 500th N

    Lot size
    1.17 lot acres
    Zone code
    B-2
    Property type
    Commercial land
    APN
    41-05-23-044-028.000-028
    APU
    410523044028000028

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 5, 2026 — Pilot Travel Centers LLC Gene Hereford LLC Warranty Deed —
    Aug 4, 2015 — Gene Hereford LLC Jean C Larson Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Whiteland
    County
    Johnson
    State
    Indiana
    Longitude
    -86.0465
    Latitude
    39.551
    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
    $4,745
    $205,100
    $0.00
    $205,100
    -
    $205,100
    $0.00
    $205,100

    Comparable in this City

    • Value Estimation by Request
      0.06 Acres

      Us 31

      VACANT COMMERCIAL LAND
      Us 31, Whiteland, IN 46184
      View Details
    • Value Estimation by Request
      0.11 Acres

      3542 500th N

      VACANT COMMERCIAL LAND
      3542 500th N, Whiteland, IN 46184-9591
      View Details
    • Value Estimation by Request
      1.29 Acres

      600 600th Nn

      VACANT COMMERCIAL LAND
      600 600th Nn, Whiteland, IN 46184
      View Details
    • Value Estimation by Request
      0.22 Acres

      629 Brewer St

      VACANT COMMERCIAL LAND
      629 Brewer St, Whiteland, IN 46184-1603
      View Details
    • Value Estimation by Request
      0.05 Acres

      530 Main St

      VACANT COMMERCIAL LAND
      530 Main St, Whiteland, IN 46184-1517
      View Details
    • Value Estimation by Request
      0.10 Acres

      600 Main St

      VACANT COMMERCIAL LAND
      600 Main St, Whiteland, IN 46184-1620
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,148 SF

      Versatile Commercial Property on 3.63 Acres

      Commercial property with C2 zoning, high visibility, and traffic counts.
      529 N Us Highway 31, Whiteland, IN 46184
      View Details
    • Contact for pricing

      Prime Commercial Development Land

      52.24 acres for sale with immediate Interstate access.
      2341 E Worthsville Rd, Greenwood, IN 46184
      View Details
    • $695,000
      5.55 Acres

      Whiteland Development Opportunity on US 31

      5.5 acre parcel on high-visibility corridor, ideal for development.
      6516 N Us Highway 31, Whiteland, IN 46184
      View Details
    • Contact for pricing

      Land Ready for Development

      Land available for retail development with high traffic and visibility.
      811 Us Highway 31, Whiteland, IN 46184
      View Details
    • Contact for pricing

      Highway Commercial Land Available

      15 acres of commercial land with I-65 frontage.
      3009 E County Rd 500 N & N Cr 300 E, Whiteland, IN 46184
      View Details
    • $1,000,000
      5.00 Acres

      Commercial Land on US 31

      5 acres of commercial land with high visibility.
      6540 N Us Highway 31, Whiteland, IN 46184
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      617,316 SF

      Whiteland Warehouse Space Available

      617,316 SF warehouse space in Whiteland, ready June 2023.
      822 Gtwy Dr, Whiteland, IN 46184
      View Details
    • Contact for pricing
      180,338 SF

      Whiteland Warehouse with 40' Clearance

      180,099 SF warehouse with 20 dock doors for lease.
      5743 N Graham Rd, Whiteland, IN 46184
      View Details
    • $4,000 /Mo
      6,500 SF

      Whiteland Industrial Warehouse For Rent

      6,500 SF industrial warehouse space available for lease.
      80 S Us Highway 31, Whiteland, IN 46184
      View Details
    • Contact for pricing

      Whiteland Industrial Property for Rent

      Industrial property available for rent in Whiteland, Indiana.
      2510 Whiteland Rd, Whiteland, IN 46184
      View Details
    • Contact for pricing
      431,460 SF

      Whiteland Industrial Property for Lease

      431,460 SF warehouse/distribution space available for lease.
      2510 Whiteland Rd, Whiteland, IN 46184
      View Details
    • Contact for pricing

      Whiteland Warehouse with Tax Abatement

      357,015 SF warehouse space with customizable delivery date.
      Bob Glidden Blvd, Whiteland, IN 46184
      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.
    2962 500th N
    Whiteland, IN 46184-9708
    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

    Thank You for Inquiry
    2962 500th N, Whiteland, IN, 46184
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!