82.6 Acres of Recreational Land for Sale in Cloverdale, Indiana

Opportunity Zone! This property is located in an Opportunity Zone and may qualify for certain tax incentives/tax deferment. A very unique and rare investment opportunity in a prime area hungry for services! The interchange at I-70 and State Road 231 commonly known as the Cloverdale/Greencastle exit is a huge artery for traffic coming and going to Greencastle (DePauw University) and beyond from the north. Currently there are no amenities for food and fuel on the north side of this very busy interchange. This property has frontage right on 231 on the east side (north-bound) lane and is ideally located less than a 1/5 mile from I-70. There are currently city water and electricity utilities located at the road. Also, a spur street (High Street) is already in place allowing for ideal access to the property utilizing the street for southern border entry. There are currently a few fast food restaurants and gas stations on the south side of 70, but nothing on the north side until you get to U.S. 40 and then into the city. The zoning on the first 2 parcels is commercial, and the third is zoned residential and multi-family, offering the opportunity for housing and or apartments as well. There is an active stone quarry just across 231 to the west so the possibility exists that similar resources could be mined from this site. The 32 acres of farmland on the site are currently in row crop production and pay a nice return from the farmland cash rent to the farmer. There is also just over 50 acres in beautiful fine Indiana hardwood timber, which this area is known world-wide for growing. Please call to arrange a private showing. Shown by appointment only.

Property Features:

• Opportunity Zone, may qualify for certain tax incentives/tax deferment
• Located just north of I-70 and State Road 231 interchange
• 45 minutes from Indianapolis, 40 minutes from Terre Haute, 25 minutes from Brazil
• Ideal location less than a 1/5 mile north of I-70
• Totally undeveloped area out of balance with the heavily developed south side
• Ideal location for gas/fuel/station or truck stop, restaurants, trucking company, quarry, or manufacturing
• Road frontage on St Rd 231 to the west and High Street to the south
• Electricity and water currently available at the frontage, city sewer accessible very nearby
• 3 individual parcels, first 2 are zoned commercial, the third is residential and multi-family
• 32 acre of tillable farmland currently in production and drawing 150.00 per acre cash-rent income
• 50.6 acres of timber offering great hunting opportunities and ROI with marketable timber
• Traffic from I-70 must currently head south for fuel or food, creating demand for services for northbound
• Shown by appointment only