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    Property profile & analytics

    3408 State Rd 56 Hanover, IN 47243-9063

    • Industrial properties
    • 40,594 SF
    • 5.26 lot acres
    OFF-MARKET
    Value Estimation
    $690,000
    Location Intelligence
    Property ID
    US31-1412649
    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

    • Industrial properties

    Property Details for 3408 State Rd 56

    Year built
    1952
    Construction
    WOOD
    Lot size
    5.26 lot acres
    Property size
    40,594 SF
    Property type
    Industrial properties
    APN
    39-13-06-000-018.004-002
    APU
    391306000018004002

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $655,000

    • CAP approach

      CAP return
      Estimation
      6%
      $925,000
      6.5%
      $830,000
      7%
      $820,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $970,000
      Geo Method
      $860,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $820,000
      Retail
      $870,000
      Mixed-Use
      $775,000
      Hospitality
      $870,000
      Educational
      $725,000
      Residential Income
      $910,000
      Energy
      $805,000
      Income-Based Land
      $955,000
      Food Service
      $855,000

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    Jefferson
    State
    Indiana
    Longitude
    -85.4517
    Latitude
    38.7357
    CBSA code
    31500
    CBSA name
    MADISON, IN MICROPOLITAN 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
    $11,619
    $263,000
    $291,000
    $554,000
    -
    $263,000
    $291,000
    $554,000

    Comparable in this City

    • Value Estimation by Request
      4,500 SF

      419 Lagrange Rd

      INDUSTRIAL (GENERAL) • 4,500 SF
      419 Lagrange Rd, Hanover, IN 47243-9772
      View Details
    • Value Estimation by Request
      11.00 Acres

      9727 Barker Dr

      Industrial properties • 11.00 Acres
      9727 Barker Dr, Hanover, IN 47243
      View Details
    • Value Estimation
      $390,000
      9,090 SF

      6583 State Rd 56

      WAREHOUSE, STORAGE • 9,090 SF
      6583 State Rd 56, Hanover, IN 47243-9368
      View Details
    • Value Estimation
      $700,000
      54,000 SF

      9511 Barker Dr

      STORAGE YARD, OPEN STORAGE • 54,000 SF
      9511 Barker Dr, Hanover, IN 47243
      View Details
    • Value Estimation
      $920,000
      54,000 SF

      9727 Barker Dr

      WAREHOUSE, STORAGE • 54,000 SF
      9727 Barker Dr, Hanover, IN 47243
      View Details
    • Value Estimation by Request
      2,088 SF

      4146 In-56

      Mixed-use properties • 2,088 SF
      4146 In-56, Hanover, IN 47243
      View Details

    Similar Nearby for Sale

    • $3,000,000
      11.00 Acres

      9727 Barker Dr, Hanover, IN 47243

      Industrial properties • 11.00 Acres
      9727 Barker Dr, Hanover, IN 47243
      View Details
    • $199,500
      14.30 Acres

      Hanover Land Development Opportunity

      14 acres of land ideal for development or private use.
      W Sr 56, Hanover, IN 47243
      View Details
    • $529,000
      2.46 Acres

      Hanover Retail Building - High Traffic!

      Prime location, high traffic count, 7200+ sq ft.
      3498 Sr 56, Hanover, IN 47243
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    • $199,000
      0.55 Acres

      Hanover Retail Property - Prime Location

      High-visibility retail space near Hanover College.
      214 Lagrange Rd, Hanover, IN 47243
      View Details
    • $68,500
      0.20 Acres

      Hanover Commercial Property - Huge Potential

      Versatile building, great location, many uses.
      106 Main St, Hanover, IN 47243
      View Details
    • $199,500
      14.34 Acres

      Hanover Acreage with Development Potential

      14 acres in Hanover, IN, ideal for development or private use.
      3632 W Sr 56, Hanover, IN 47243
      View Details
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    3408 State Rd 56
    Hanover, IN 47243-9063
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    Realmo Value Estimation

    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.

    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.

    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
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