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    825 W 375 N Lebanon, IN 46052
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    825 W 375 N, Lebanon, IN 46052

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    • Commercial real estate
    • 2.27 lot acres
    For Sale
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    Land Near Eli Lilly Project For Sale
    Contact for pricing
    2.27 Acres

    Land Near Eli Lilly Project

    2.27 acres near the $9 billion Eli Lilly project.

    825 W 375 N, Lebanon, IN
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    Property ID
    US31-1926610
    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

    • Commercial real estate

    Property Details for 825 W 375 N

    Lot size
    2.27 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 2.27-acre commercial land parcel in Lebanon, Indiana, presents a unique investment opportunity. Located directly across from the new $9 billion Eli Lilly manufacturing campus within the burgeoning LEAP Lebanon Innovation District, this property benefits from the significant economic growth and job creation associated with this major development. The LEAP District encompasses over 9,000 acres, strategically positioned along the I-65 corridor, and is planned to house hundreds of companies employing over 50,000 people. This prime location offers easy access to Indianapolis (30 miles), Purdue University, and Purdue's Discovery Park, all within a 30-mile radius. The area boasts a skilled workforce of approximately 1 million people within a 60-minute commute. Further enhancing the property's value is the planned construction of a 400-home community nearby, creating a strong residential base for future retail and commercial development. The property's proximity to multiple I-65 access points ensures excellent connectivity and accessibility. With proposed retail development at I-65 and W 300 N, this site is ideally positioned to capitalize on the explosive growth of the LEAP Lebanon Innovation District and the influx of new residents and businesses. This is a rare chance to acquire land in a rapidly expanding area with exceptional long-term potential. The property's commercial zoning and strategic location make it suitable for a variety of uses, offering significant upside for investors.

    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
    Lebanon
    County
    Boone
    State
    Indiana
    Longitude
    -86.48379133
    Latitude
    40.09383289

    Comparable in this City

    • Contact for pricing

      Development Land Near Eli Lilly

      4.75+/- acres near planned developments in Lebanon, Indiana.
      3760 W 375 N, Lebanon, IN 46052
      View Details
    • $6,200,000
      57.00 Acres

      57 Acres Development Land Lebanon

      57 acres of prime development land in Boone County.
      4755 N 275 W, Lebanon, IN 46052
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      Boone County Land Opportunity

      2.65 acres near Eli Lilly development in Boone County.
      690 W State Road 47, Lebanon, IN 46052
      View Details
    • Contact for pricing

      Commercial Land Near I-65

      Two lots available near I-65 and Whitestown Parkway.
      780 S & 525 E, Whitestown, IN 46052
      View Details
    • Contact for pricing
      21.23 Acres

      21.23 Acres Development Land

      Development land adjacent to Boone County LEAP project and Eli Lily.
      17 N 300 W, Lebanon, IN 46052
      View Details
    • Contact for pricing

      1.44 Acres Commercial Land Lebanon

      1.44 acres of commercial land for sale or lease.
      200 Sam Ralston Rd, Lebanon, IN 46052
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Development Land Near Eli Lilly

      4.75+/- acres near planned developments in Lebanon, Indiana.
      3760 W 375 N, Lebanon, IN 46052
      View Details
    • $6,200,000
      57.00 Acres

      57 Acres Development Land Lebanon

      57 acres of prime development land in Boone County.
      4755 N 275 W, Lebanon, IN 46052
      View Details
    • Contact for pricing

      Boone County Land Opportunity

      2.65 acres near Eli Lilly development in Boone County.
      690 W State Road 47, Lebanon, IN 46052
      View Details
    • Contact for pricing

      Commercial Land Near I-65

      Two lots available near I-65 and Whitestown Parkway.
      780 S & 525 E, Whitestown, IN 46052
      View Details
    • Contact for pricing
      21.23 Acres

      21.23 Acres Development Land

      Development land adjacent to Boone County LEAP project and Eli Lily.
      17 N 300 W, Lebanon, IN 46052
      View Details
    • Contact for pricing

      1.44 Acres Commercial Land Lebanon

      1.44 acres of commercial land for sale or lease.
      200 Sam Ralston Rd, Lebanon, IN 46052
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo

      304 S Baldwin Ave, Unit 306

      Retail Space On Bypass
      304 S Baldwin Ave, Marion, IN 46052
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      Lebanon Commercial Property For Rent

      Commercial property available for rent in Lebanon, Indiana.
      John Shaw Rd, Lebanon, IN 46052
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    • Contact for pricing
      2,616 SF

      Retail Space in Village North

      Retail space available in a well-established shopping center.
      2462 North Lebanon St, Lebanon, IN 46052
      View Details
    • Contact for pricing
      746 SF

      Retail Space on Main Corridor

      Retail space available on a main retail corridor.
      2222 North Lebanon St, Lebanon, IN 46052
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    • Contact for pricing

      Retail Center in Lebanon, IN

      Retail center anchored by national and regional tenants.
      North Lebanon St, Lebanon, IN 46052
      View Details
    • Contact for pricing
      2,600 SF

      New Retail Space with Drive-Thru

      New construction retail space with drive-thru and pylon signage.
      4250 S State Road 267, Lebanon, IN 46052
      View Details
    View Listing
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    Lebanon, IN 46052
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    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.

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