$ 895,000
5239 W US Hwy 40 Greenfield, IN 46140
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Listed by Richard Graham • Fair Market Value Investment Sales
$ 895,000
Est. payment /mo
Active
5239 W US Hwy 40 Greenfield, IN 46140
9,384 SqFt
UPDATED:
10/03/2024 04:32 PM
Key Details
Property Type Commercial
Sub Type Multi-Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 9,384 sqft
Price per Sqft $95
MLS Listing ID 22004247
Year Built 1946
Tax Year 2023
Lot Size 9.590 Acres
Acres 9.59
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
Interior
Fireplace N
Exterior
Utilities Available Electricity Connected, Gas, Septic System, Sewer Connected, Well
Roof Type Asphalt
Parking Type Common, Asphalt, Aggregate
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
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