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    534 Miller Ave Shelbyville, IN 46176

    Sponsored
    For Sale
    $339,025

    Versatile Property, Downtown Shelbyville

    Property size:
    4,352 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional Shelbyville property offers a unique blend of commercial and residential space, ideal for diverse uses. The main retail building at 534 Miller Avenue, totaling 4,352 square feet, is currently configured as a church but is zoned for a variety of permitted uses under IS zoning. Its striking sanctuary boasts soaring 17-foot ceilings and 12-foot eaves, creating an impressive and adaptable space. The upper level comprises two offices, while the lower level features multiple classrooms, a relaxing lounge area, and separate restrooms for men and women. Adding to its appeal is the adjacent residential property at 535 Dunn Avenue, a well-maintained 1,774-square-foot home. This two-bedroom, two-bathroom residence includes a spacious kitchen and most appliances. A significant advantage is the converted two-car garage, now a finished family life center with its own kitchen and restroom, offering versatile space for gatherings or additional living quarters. Situated on a 0.15-acre lot, this combined property presents a compelling investment opportunity in a prime location near Shelbyville's downtown area. The property's flexible zoning and existing features make it suitable for a wide range of commercial ventures, while the included residence provides additional income potential or comfortable living space. This is a rare chance to acquire a substantial property with significant upside in a thriving community. The asking price is $339,025.

    Property Features for 534 Miller Ave

    General Information

    Property type
    Retail properties
    Square Feet
    4,352 SF
    Lot Size
    6,534 SF

    Building Details

    Year Built
    1900
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail properties

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelbyville
    County
    Shelby
    State
    Indiana
    Longitude
    -85.78592
    Latitude
    39.51939

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    FAQs

    What type of property is this?
    Retail property - Versatile Property, Downtown Shelbyville
    Where is this retail property located?
    The property is located at 534 Miller Ave Shelbyville, IN.
    What is the asking price?
    The asking price for this property is $339,025.
    (812) 662-7878
    Request Owner's contact information
    534 Miller Ave Shelbyville, IN 46176
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    Shelbyville, IN 46176
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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
    534 Miller Ave Shelbyville, IN 46176
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