# 7984 W State Road 32, Lebanon, IN 46052

> **TL;DR:** commercial, $489,900 ($233/sqft), 2,100 sqft. Est. $2,123/mo. Listed 2 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $489,900 |
| Price/sqft | $233 |
| Square Feet | 2,100 |
| Lot Size | 112,385 sqft (2.58 acres) |
| Property Type | Commercial (Mixed Use) |
| Status | For Sale |
| Days on Market | 2 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $2,123 |
| **Total** | **$2,123** |

## Nearby Schools

- **High:** Western Boone Jr-Sr High School

## Property Highlights

- 2.58 acre lot

## Description

### Agent Description
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

## Location

- **Address:** 7984 W State Road 32, Lebanon, IN 46052
- **County:** Boone
- **Coordinates:** 40.054788, -86.619285
- **Google Maps:** https://www.google.com/maps?q=40.054788,-86.619285

## Listing Agent

- **Name:** Alec Conner
- **Brokerage:** eXp Realty, LLC
- **Phone:** 3173136401
- **Email:** alec.conner@exprealty.com

## Primary Photo

![7984 W State Road 32 - Primary Photo](http://lh.rdcpix.com/f75b2c69e7da13156bce9118f8c3feedl-f4122023882r.jpg)

*3 total photos available on [listing page](https://www.propertysimple.com/listing/7984-w-state-road-32-lebanon-in-46052-22104065)*

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**MLS#:** 22104065 | **Updated:** 2026-06-18
**Source:** listhub

*Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/7984-w-state-road-32-lebanon-in-46052-22104065)

---

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