2010 Memorial DrNew Castle, IN 47362

Property Details for 2010 Memorial Dr

Year built

1960

Construction

WOOD

Lot size

1.30 AC

Property size (Sq ft)

17,488 SF

Property type

Retail properties

Property subtype

Retail space

APN

33-12-22-130-133.000-016

APU

331222130133000016

Description

This exceptional 16,094 square foot commercial property presents a unique investment opportunity in New Castle, Indiana. Situated on a highly trafficked section of South Memorial Drive (State Road 3), this single-tenant building boasts excellent visibility and accessibility, making it ideal for a variety of businesses. The property's classification as a Class B building reflects its solid construction and functional layout. The building itself sits on a sizable 1.3-acre lot, offering ample space and potential for expansion or outdoor use. Inside, the generous square footage is complemented by a large overhead door, perfect for loading and unloading, and a substantial storage area, catering to diverse operational needs. The property's dual zoning as both traditional and creative office space allows for flexibility in tenant selection and business types. This versatile building is perfect for a company seeking a prominent location with significant space and convenient access. Located in Henry County, this property offers a strategic position within a thriving community. The combination of size, location, and features makes this a truly compelling opportunity for a discerning buyer. This is a rare chance to acquire a substantial commercial property in a high-demand area.

• CAP approach

  CAP return

  Valuation

  6%

  $3,207,121

  6.5%

  $2,960,419

  7%

  $2,748,961

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,473,024

  Geo Method

  $5,473,024

• Alternative Use

  Use

  Valuation

  Residential

  $2,497,224

  Hospitality

  $2,287,444

  Educational

  $1,903,127

  Medical

  $1,968,578

  Retail

  $2,960,419

Location Insight

City

New Castle

County

Henry

State

Indiana

Latitude

39.9123

Longitude

-85.3844

CBSA code

35220

CBSA name

NEW CASTLE, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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