5239 W US Highway 40

Greenfield, IN 46140

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.

Listing courtesy of Fair Market Value Investment Sales 3174121572



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