Lafayette / West Lafayette, IN
Executive Summary
Market spread
- $31,193/ac — lowest (S 500 E ag assemblage, 16.51 ac, sold 2021-08)
- $162,602/ac — highest (S 460 E, 3.69 ac, sold 2024-05) — small-parcel premium
- Realistic industrial comp band: $39,506 – $126,050/ac
- Active median (of 8 priced listings): $110,000/ac
- Sold median (10 sales): ~$72,500/ac
Supply skew & recommendation
- 100+ ac bucket: 4 Active vs 0 Sold — liquidity is in smaller ranges
- Park 350 (#3 / 116.25 ac) — 12 marketed lots, 2 SOLD, 1 option, 9 available; avail avg ~$112K/ac (range $68K–$165K)
- Haggerty (#24 / 110 ac) listed at $75K/ac — only Active peer at the 100+ ac stack matching Gateway’s profile
- Recommendation: massemblage narrative + rail/utilities path → support $60–$65K/ac, bridge from $50K offer
Methodology
Geographic scope
- Bounding box: lat 40.25 – 40.50, lng −87.10 – −86.65
- All 24 pins fall inside the Lafayette – West Lafayette IN core footprint
- Subject (#11) sits outside city center near SR-38 east corridor
Geocoder mix (in order of use)
- OpenStreetMap Nominatim — primary street-level geocoding
- Photon (Komoot) — secondary road geometry
- Census Bureau — confirmation for numbered routes & named courts
- User-corrected — 7 pins re-positioned by client verification 2026-08-17
Data lineage & confidence
Source CSV (Lafayette_West_Lafayette_IN_Land_Sale_Comps_8.17 (1).csv, 14 Active + 10 Sold rows) → north-western Indiana parcel stack. Coordinates were initially geocoded server-side, then superseded by client-supplied lat/lng for any pin flagged APX (approximate). Final pass on 2026-08-17 accepted every correction (apx:true → 0 pins remaining), with rounded maps_metadata noise stripped from a small number of entries.
Active Listings (14)
| ID | Address | Subdivision | Class | Acres | Price | $/Ac | Zoning | Coord |
|---|
Sold Properties (10)
| ID | Address | Sold | Class | Acres | Price | $/Ac | Zoning | Coord |
|---|
Pricing Statistics
Combined spread (all priced properties)
lowest: $31,193 / ac · S 500 E assemblage, 16.51 ac, sold 2021-08-01 (agricultural designation)
highest: $162,602 / ac · S 460 E, 3.69 ac small-parcel sale, sold 2024-05-09
Realistic industrial comp band (excl. outliers): $39,506 – $126,050 / ac
Acreage Bucket Matrix
| Bucket (gross acres) | Active count | Sold count | Total | $/acre band (sold) | Market read |
|---|---|---|---|---|---|
| 0 – < 10 ac | 2 | 4 | 6 | $58,824 – $162,602 | Liquidity band; small-parcel premium |
| 10 – < 25 ac | 4 | 4 | 8 | $31,193 – $90,455 | Most balanced bucket; clean comparables |
| 25 – < 50 ac | 2 | 1 | 3 | $75,416 – $80,840 | Mid-tract Industrial; S 500 E cluster anchors |
| 50 – < 100 ac | 2 | 0 | 2 | — (no closed comps) | Thin: 0 sales; rely on listing analogues |
| 100+ ac | 4 | 0 | 4 | — (no closed comps) | Subject zone; supply-skew at the top end |
| TOTAL | 14 | 10 | 24 | 4 of 24 comps are 100+ ac — only Active peers; subject must price off listings | |
Takeaway for Gateway 65 (338 ac / subject)
No closed sale in Tippecanoe County above 100 ac in the dataset. Comp set is listings only at this scale — Park 350 (#3, 116.25 ac), McCarty Ln (#2, 155 ac), 0 Park East Blvd (#5, 58.4 ac not 100+ but adjacent commercial), Haggerty Ln (#24, 110 ac).
$/Acre Scatter — all 24 properties
Subject Deep Dive — Gateway 65 Business Park
Position
- Listed: $23,322,000 (~$69,000 / acre)
- Offer on table: $50,000 / acre (~$16.9M)
- Coord: 40.370171, −86.794289 (user-verified 2026-08-17)
- Brokers’ flags: no utilities on site, rail access issues
- Status: Active
Direct comp peers — same corridor (ordered by $/acre)
| ID | Address | Acres | $/Ac | Distance from subject |
|---|---|---|---|---|
| 2 | 4509 McCarty Ln | 155 | $110,000 | ~2.0 mi N |
| 5 | 0 Park East Blvd | 58.4 | $110,000 | ~7.8 mi W (near West Lafayette) |
| 6 | County Rd 500 East | 37.07 | $110,018 | ~1.6 mi W |
| 4 | 3601 Veterans Memorial Pky S | 73.53 | $73,500 | ~9.7 mi SW |
| 14 | 3950 Veterans Memorial Pky S | 12.3 | $97,561 | ~9.7 mi SW |
| 24 | Haggerty Ln | 110 | $75,000 | ~2.5 mi NE |
| 21 | S 460 E (sold 3.69) | 3.69 | $162,602 | ~2.5 mi NW |
| 19 | 1934 S 500 E (sold) | 15.71 | $80,840 | ~2.4 mi N |
Offer strategy
$50,000 / ac is the floor. Direct peers (Industrial I-3, 25 ac+, sold within 24 months) trade $73,500 – $110,018. Adjusted for 338-ac scale, no-utilities discount, and rail-access issue, a defensible landing zone is $58,500 – $65,500 / ac ($19.8M – $22.2M). Push by eliminating utilities gap, zoning certainty, and rail spur treetop.
Park 350 / Four Corners Master-Plan
Park 350 (#3) — 116.25 ac master
- 12 marketed lots; total 116.25 ac
- 2 SOLD, 1 under option, 9 available
- Avg of 6 priced available: ~$112,000 / ac
- Range: $68,000 – $165,000 / ac
- Prior land sales (11.98 ac): ~$72,000 / ac
Four Corners (#17) — 6 ac active
- Same intersection as Park 350
- List price $600,000 · $100,000 / ac
- Originally part of the Four Corners Master Development
- Coord 40.355851, −86.815376 (same as #3)
David Howarth slice (#18) — sold
- Sold 2025-12-01 · 4.25 ac
- Sale price $250,000 · $58,824 / ac
- Confirmed closed comp inside the master plan
Implication for Gateway 65
Park 350 / Four Corners proves industrial-end-user demand at 50–120 ac around S 350 E. Gateway historically larger (338 ac) and further from utility rail — comparable buyers overlap but pricing should not exceed Park 350’s established $112K/ac ceiling absent exceptional amenitization.
Map Overview — all 24 coordinates
| # | St | Address | Latitude | Longitude | Source |
|---|
Sources & Next Steps
Coordinate provenance table
Next steps
- Parcel APN lookup for #3, #16, #17 — Tippecanoe County GIS / Beacon (apn fields currently empty for these three active listings)
- Sale-comps deep dive on the 6.5–22 ac band (#12, #14, #16, #20, #21, #22) where liquidity is densest
- Park 350 lot-status check — verify the 1 under option; if it converts, median ask re-anchors
- Gateway 65 utilities & rail — broker comments flag both; on-site due-diligence visit confirms or downgrades offer
- Subject listing refresh — confirm $23.32M ask still active; comp refresh every 30 days