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Property profile & analytics
FOR SALE
Hotels

4300 Western Ave Connersville, IN 47331

7,368 SF 4.38 ac lot Built 1954
Entity Owned Absentee Owner Free & Clear
Property ID
US31-0118808
Property summary
AI-generated overview

This exceptional 4.38-acre commercial land parcel presents a unique investment opportunity in Connersville, Indiana. Located at 4300 Western Ave, 47331, this property boasts a prime location immediately adjacent to a Walmart store, ensuring high visibility and significant foot traffic. The site is zoned GB and offers substantial redevelopment potential. Its strategic position just south of Connersville Airport and near Ivy Tech Community College further enhances its appeal. The property features frontage on a busy highway, guaranteeing excellent traffic counts. This large lot is ideal for a variety of commercial uses, including the potential conversion of an existing motel into multi-family housing. The asking price is $1,095,000, translating to $250,000 per acre. This land is situated within the 2024 QCT Tract, providing additional advantages for investors. The property's size, location, and zoning make it an attractive proposition for developers and investors seeking a high-impact commercial investment in a thriving area. Don't miss this chance to acquire a strategically located parcel with significant upside potential.

Property profile
Verified
Property type Hotels
Use group HOTEL/MOTEL
Year built 1954
Construction WOOD
Total area 7,368 SF
Lot 4.38 ac (190,575 SF)
APN 21-05-12-200-010.000-008
UPID US31-0118808
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history
CONNERSVILLE MOTEL, INC
CONNERSVILLE MOTEL, INC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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