$1,950,000 | 10.7 Acre Enclosed Boat/RV Storage Development Site | Indianapolis MSA

Description

Colliers is proud to present an exclusive opportunity to acquire a prime 10.7-acre industrial land parcel at 743 West New Road in Greenfield, Indiana. Situated in the eastern suburbs of Indianapolis in Hancock County, this development-ready site offers exceptional accessibility and versatility.

The property consists of two parcels and boasts direct access to W New Road, Broadway St, and Muskegon Drive, providing multiple entry points and enhanced development flexibility.

The site is zoned IM (Innovation & Manufacturing), allowing for a broad range of permitted uses, including enclosed boat and RV storage—a sector with high demand and minimal competition in the area. A recent market survey of enclosed boat and RV storage within a 20-mile radius found that only one competitor had available units, which were limited to just one size, 14×50. All other facilities were fully occupied and operating with a waitlist.

Additionally, self-storage in this trade area is experiencing strong demand. According to Yardi, the availability of climate-controlled storage within a 5-mile radius is just 0.71 square feet per person, while total storage saturation is 5.48 square feet per person. Due to limited supply, rental rates are strong, with 10×10 climate-controlled units averaging $1.72 PSF and non-climate units at $1.20 PSF.

The site benefits from Greenfield’s strong demographics and continued growth. Currently, 41,700 residents live within 7 miles, with the population expected to increase by 4.2% by 2029. The area attracts affluent, well-educated individuals, with 40% holding a college degree and an average household income of $106,002.

This highly visible parcel presents a unique opportunity for a developer to leverage its strategic location, flexible zoning, and unmet market demand. Situated just a few miles east of downtown Indianapolis, the site offers access to a large and growing tenant base. The versatility of the land and zoning allows for multiple potential uses, making it a compelling investment for industrial, storage, or mixed-use development.