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    4938 N State Road 101 Milan, IN 47031

    For Sale
    $150,000

    Commercial - Milan, IN

    Lot size:
    0.50 Acres
    Days on Market:
    21
    Last Refresh:
    Dec 5 at 3:06 am

    Property Features for 4938 N State Road 101

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    69-08-18-200-015.000-009
    Parking features
    None
    Exterior features
    Lights, Outside Storage, Signage
    Lot size
    0.50 Acres

    Utilities

    Cooling system
    Central Air, Window Unit(s)

    Building Details

    Year built
    1900
    Floors in Building
    1
    Flooring type
    Carpet
    Building materials
    Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Other
    Additional Structures
    Storage

    Keller Williams Realty Services (859) 240-0727 [email protected]

    Listing agent Blake Haag (812) 577-2186 License #RB20000760

    Listing date Nov 15, 2025

    MLS# 205781 Listing URL

    Copyright © 2025 Southeastern Indiana Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Church with Commercial Potential

    This place of worship, constructed in 1832, is located on a corner lot in Milan, Indiana. The property features a spacious auditorium, a fellowship hall, a baptistry, and a fully equipped kitchen. It also includes five office rooms and two bathrooms. The property has ample parking. It is ideally suited for a church relocation, office space, or a mower shop. There is a possibility of being rezoned and converted back to a single-family home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Churches & religious facilities

    Suggested Use

    Restaurant Realty agency Building Supply Wholesale Shop Auto Repair Shop Pharmacy Auto Parts Store Electrical Service Car Rental Breakfast

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Milan
    County
    Ripley
    State
    Indiana
    Longitude
    -85.131431
    Latitude
    39.147767

    Nearby Similar for Sale

    • $350,000
      2.62 Acres

      Milan Automotive Business Opportunity

      60' x 80' auto shop on 2.62 acres.
      7646 Mill Rd, Milan, IN 47031
      View Details

    FAQs

    What type of property is this?
    Church & religious facility - Unique property in Milan, Indiana, suitable for various commercial uses.
    Where is this church & religious facility located?
    The property is located at 4938 N State Road 101 Milan, IN.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: - Spacious auditorium and fellowship hall suitable for various uses.; - Fully equipped kitchen and five office rooms.; - Potential for rezoning and conversion to a single-family home.
    (812) 577-2186
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    Milan, IN 47031
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4938 N State Road 101 Milan, IN 47031
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