4146 In-56Hanover, IN 47243

This exceptional 2.88-acre property in Hanover, Indiana, presents a compelling redevelopment opportunity. Located at 4146 IN-56, this mixed-use parcel boasts a strategic location, directly across from Hanover College's new Veterinary/Graduate School expansion. Currently zoned R-1, allowing up to four single-family homes per acre, the property has been annexed into Hanover town limits and approved for mixed-use zoning under a comprehensive plan. This prime location offers proximity to established commercial businesses, including urgent care, a garage door company, fast food establishments, and a gas station. The existing 2,088 square foot, single-story, one-unit building, constructed in 1960, features three bedrooms and two bathrooms. This structure could continue as a single-family residence or be repurposed for office or business use, subject to Town Board approval. An updated recorded survey is available. The asking price is $548,500, representing a land value of $190,450 per acre. This presents a unique chance to capitalize on the growth and development surrounding Hanover College and the town's strategic planning initiatives. The property's versatility and prime location make it an ideal investment for developers and investors seeking high-return potential.