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    401 Michigan Rd Burlington, IN 46915

    For Sale
    $250,000

    Iconic Bank Building - Endless Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    316
    This exceptional 0.34-acre commercial property at 401 Michigan Road, Burlington, IN, presents a unique investment opportunity. The building, a well-maintained 1971 structure, boasts a captivating history as a former bank, complete with an original vault and numerous security deposit boxes. The flexible interior layout, currently without fixed walls, allows for a wide range of uses. Imagine transforming this space into a thriving restaurant, bakery, office complex, salon, or even returning it to its banking roots. The possibilities are truly limitless. A significant advantage is the existing drive-up ATM, currently under contract with Horizon Bank, generating a consistent income stream. Further enhancing the property's appeal is a drive-through teller window at the rear, recently updated with fresh concrete. Ample parking is available both in front of the building and in an additional lot at the rear, offering potential for expansion. The strategic location on SR29/US421 ensures high visibility and significant traffic flow. Recent improvements include a new gas furnace and completed mold remediation, ensuring the building is move-in ready. Architectural renderings showcasing a potential bakery conversion are available upon request. Priced at $250,000, this property offers an unparalleled chance to establish a successful business in a vibrant downtown setting.

    Property Features for 401 Michigan Rd

    General Information

    Property type
    Other commercial real estate
    Lot Size
    14,810 SF

    Building Details

    Year Built
    1971
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Building Supply Clothing Store Department Store Storage Facility Bar & Pub Garden Center Convenience Store Cafe & Coffee Shop Pawn Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Burlington
    County
    Carroll
    State
    Indiana
    Longitude
    -86.39533
    Latitude
    40.48222

    Nearby Comparable

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    Nearby Similar for Sale

    • $250,000
      3,670 SF

      Downtown Burlington Commercial Gem

      Former bank, high traffic, income potential.
      401 Michigan St, Burlington, IN 46915
      View Details
    • $279,999
      3,670 SF

      Downtown Burlington Retail Space

      Prime Retail Space, 3670 sq ft, High Traffic Area
      401 Michigan St, Burlington, IN 46915
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Iconic Bank Building - Endless Potential
    Where is this commercial real estate located?
    The property is located at 401 Michigan Rd Burlington, IN.
    What is the asking price?
    The asking price for this property is $250,000.
    (317) 776-0200
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    Burlington, IN 46915
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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
    401 Michigan Rd Burlington, IN 46915
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