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Property profile & analytics
OFF-MARKET
Commercial real estate

4540 State Rd 32 Lebanon, IN 46052-9605

7,120 SF 0.98 ac lot Built 1980
Entity Owned 1-yr Hold ~ Est. High Equity
Property ID
US31-2384964
Property summary
AI-generated overview

This exceptional 7,200 square foot industrial property presents a unique investment opportunity. Situated on a two-acre lot at 4540 E State Road 32 in Lebanon, Indiana, this strategically located building enjoys convenient access, positioned midway between I-65 and US 421, approximately four miles east of Lebanon. The property features a spacious barn-style structure with a recently updated roof (installed four years ago) and blown-in insulation. High ceilings (14 feet) provide ample vertical space, complemented by three 13-foot insulated garage doors, ensuring easy access for equipment and materials. Durable concrete floors throughout the main area add to the practicality of the space. A dedicated 20' x 12' paint booth is included, ideal for various finishing processes. For added flexibility, a non-load-bearing wall separates the manufacturing area from the office and a separate apartment space, allowing for potential expansion or reconfiguration to suit specific needs. The barn benefits from a dual heat source, while the living area/apartment includes air conditioning. The property is being sold in its current "as-is" condition. This versatile property is perfect for a variety of industrial or commercial uses.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1980
Construction METAL FRAME
Total area 7,120 SF
Lot 0.98 ac (42,689 SF)
Zoning code ZO01
APN 06-11-35-000-006.000-001
UPID US31-2384964
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
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Michalak & Shannon Properties LLC · 1 yrs held
Michalak & Shannon Properties LLC
since 2025
Last sale
$270,000
2 recorded transactions
2025
$270,000
2018
Price N/A
Zoning & alternative use
ZO01 · Lebanon, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source § 1.1 TITLE.
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