5239 W US Hwy 40, Greenfield, IN 46140 – 22004247

Listed by Richard Graham • Fair Market Value Investment Sales

$660,000

$895,000 26.3%

Est. payment - /mo

9,384 SqFt

UPDATED:

Key Details

Sold Price $660,000

Property Type Commercial

Sub Type Multi-Family 5+

Listing Status Sold

Purchase Type For Sale

Square Footage 9,384 sqft

Price per Sqft $70

MLS Listing ID 22004247

Year Built 1946

Tax Year 2023

Lot Size 9.590 Acres

Property Description

Hancock County is the fastest growing county in Indiana. With a population growth rate of 3.7%. Housing demand is high while supply remains limited. Property values have appreciated 95% over the last 10 years. 9.5 acres of land along W Hwy 40 in Hancock County just west of Greenfield. Proposed multifamily development on 5 acres. According to delineated study completed on October 17th, 2023. One forested/ emergent wetland (totaling 3.545 acres) was identified within the Study Area during the investigation. Additionally, because the wetland system is a class-two wetland that is over 3/8-acre, the wetland system should be considered jurisdictional under the Indiana Department of Environmental Management (IDEM). The Study Area predominantly consists of forested land with strips of grass lawn along the northern and eastern boundaries and an apartment complex with an associated parking lot within the northernmost region of the Study Area. W U.S. Highway 40 occurs to the north of the Study Area and is followed by an agricultural field. East of the Study Area is a church and sports complex with an associated parking lot. The Study Area is bounded by a gravel driveway and riprap to the south which is followed by a strip of forested land and an agricultural field. Adjacent land use to the west is forested before turning to agricultural land and residential properties. Property consist of a 22 unit rental property with 17 units currently occupied on a month to month basis. Gross income is currently $11,300 monthly with an NOI of $7295. Public sewer is available on site, currently connected to 5 units. Municipal gas and electric. Property is currently not on public water system.9.5 acres of land along W Hwy 40 just west of Greenfield. Proposed multi family development on 5 acres. According to delineated study completed on October 17th, 2023. One forested/ emergent wetland (totaling 3.545 acres) was identified within the Study Area during the investigation. Additionally

Location

State IN

County Hancock

Zoning Commercial Neighborhood

Exterior

Utilities Available Electricity Connected, Gas, Septic System, Sewer Connected, Well

Roof Type Asphalt

Building

Story One

New Construction false

Schools

Middle Schools Greenfield Central Junior High Sch

High Schools Greenfield-Central High School

School District Greenfield-Central Com Schools

Read Less Info

GET MORE INFORMATION

Jake Stiles, CLHMS

+1(317) 201-4092

Broker | RB14032222

Broker RB14032222

QUICK SEARCHES - SCHOOL DISTRICTS

5239 W US Hwy 40 Greenfield, IN 46140