Commercial Land for Sale in Lebanon, Indiana

7984 W State Road 32, Lebanon, IN 46052 - Prime Commercial Opportunity This versatile commercial property, built in 2003, now includes the adjacent parcel on the north side for a total of approximately 2.3 acres (combined). It offers excellent visibility and access along the heavily traveled State Road 32 corridor in Lebanon, Indiana. The building provides approximately 2,100 square feet of flexible space, ideal for retail, office, service, medical, or light industrial uses. Its strategic location combines strong road frontage with proximity to major growth drivers in Boone County. Location & Accessibility Highlights High Traffic Exposure: Positioned directly on SR 32 (a major east-west artery), the property benefits from substantial daily traffic volumes. SR 32 in the Lebanon corridor carries significant Average Annual Daily Traffic (AADT), with counts historically ranging from approximately 17,000 to 22,000 vehicles per day in the broader study area, providing outstanding visibility for customers, clients, and employees. Proximity to Eli Lilly's Explosive Growth: The site sits within just a couple of miles of Eli Lilly's massive LEAP Research and Innovation District developments along SR 32. Lilly has committed billions in investments here, including the recent groundbreaking and ongoing expansion of the Lilly Medicine Foundry (a $4.5+ billion facility), advanced therapies manufacturing, and API production sites. These projects are generating thousands of high-skilled jobs, attracting supporting businesses, and driving rapid economic and population growth in the immediate area. This expanded site positions the property perfectly to capitalize on the surging demand from Lilly employees, contractors, and the broader supply chain ecosystem in one of Indiana's fastest-growing corridors. Whether you're looking for a turnkey business location or a development site with strong commercial potential, 7984 W State Road 32 (including the northern parcel) delivers u