7874 E State Road 28
Elwood, IN, 46036 $ 150,000
Bedrooms-- Baths-- Sq 8,120 Monthly Estimate*
$ 947
for $150,000. This 8,120 square foot building was built on a lot size of 4.09.
Commercial Real Estate Auction - Friday, August 14th at Noon Outstanding opportunity to own a versatile commercial property situated on 4.09 acres with excellent visibility along high-traffic State Road 28. Offering exceptional flexibility for both owner-users and investors, this property features two separate commercial buildings with endless possibilities. The primary building offers approximately 6,900 square feet and includes warehouse space, office area, restroom, and abundant storage/workspace. The second building consists of approximately 1,200 square feet of fully heated and cooled space with a restroom, making it ideal for office, retail, or additional business operations. Occupy one building while leasing the other to generate additional income, or utilize both buildings for your growing business. This property would be well suited for contractors, fleet operations, landscaping companies, light manufacturing, service businesses, distribution, storage, and many other commercial uses. Additional features include billboard rights for added income potential, city water and sewer, a large paved parking lot, and approximately two-year-old roofs on both buildings. Properties offering this combination of acreage, multiple buildings, visibility, and income potential are rarely available. Whether you're expanding your business or adding to your investment portfolio, this is an outstanding opportunity to acquire a high-exposure commercial property with tremendous upside. Whether you're looking to expand your business, establish a new headquarters, or add a high-performing asset to your investment portfolio, this property offers exceptional flexibility and outstanding income potential. With two separate buildings, billboard revenue, and multiple occupancy options, the possibilities are endless. Investors will appreciate the property's strong cap rate potential and long-term upside in this highly visible commercial location.
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FeaturesGeneralUtilities Natural Gas Connected Sewer Connected
Possession Closing
Roof Metal
Zoning Commerical General Zoning
Township Madison
Property Subtype Mixed Use
Tax Year 2025
Current Use See Remarks
County Tipton
New Construction N
Property Type Commercial Sale
Status Active
Directions GPS Friendly
High School Tipton High School
City Elwood
High School District Tipton Community School Corp
MLS Area 8006 - Tipton - Madison
Lot Size Square Feet 178160
Elementary School Tipton Elementary School
Middle/Junior High School Tipton Middle School
Additional Parcels Y/N N
Virtual Tour https://listing.threesixtyindy.com/ut/7874_East_State_Road_28.html https://listing.threesixtyindy.com/bt/7874_East_State_Road_28.html
Standard Status Active
Tax Lot 0
Legal Description Pt Se Se 4.09 Ac 8 -21 -6
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ExteriorParking Features Detached
Water Source Well
Building Area Total 8120
Lot Size Acres 4.09
Road Surface Type Asphalt
Road Frontage Type State Road
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* Excluded FeaturesList ByJ. Snider Real EstateBroker
snidergroup@gmail.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $947
- Monthly Property Taxes
- $117
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCommerical listings in Elwood, IN
Average List Price $844,950
Percent of Sale Price 463%
About Elwood, IN 8,319 Population
-12% Since 2002
$ 38,531 Median Income
39.81 Median Age
28% Households with Children
Trends Information provided by ATTOM Data Solutions.
4061085 Elementary School
4061087 Middle School
Tipton High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 7/7/2026 | $150,000 | | Listed Price |