3 Beds • 2 Baths · 1,156 Sq. Ft.
1509 Ashley Drive
Lebanon, IN 46052
BluPrint Real Estate Group


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Based on information submitted to the MLS GRID as of November 11, 2026 at 10:45 AM EST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
7984 W State Road 32
Lebanon, IN
$489,900
Lebanon, IN 46052
MLS# MBR22104065
Listed 3 days ago
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
Estimate principal and interest for this listing.
$97,980
Estimated monthly payment
$2,477/mo
Estimate only — not MLS listing data. Does not include taxes, insurance, or other costs. Rates change daily.
Listed by eXp Realty, LLC with Alec Conner. Contact alec.conner@exprealty.com.