3988 State Road 227, Richmond, IN 47374
This exceptional 16-acre property in Richmond, Indiana, presents a prime development opportunity. The site includes a large (6,332 sq ft), renovated (2000) commercial building, previously a club, featuring a full bar and commercial kitchen, all equipment included. Additional structures include a 46' x 40' x 12' pole barn and a separate house trailer. The property boasts an inground pool, extensive paved parking (40 spaces), and a private paved lane. Its location near the Richmond airport offers excellent accessibility. The property's current tax-exempt status provides a significant advantage. Potential uses are diverse, including equestrian facilities, learning centers, private clubs, or residential development. The 10-foot ceiling height in the main building offers flexibility. This unique property offers a rare combination of existing structures and ample land, making it an ideal investment for a variety of ventures. The two buildings are situated on a versatile lot with access to a pond. This is a truly remarkable opportunity to acquire a valuable and adaptable property in a desirable location.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.