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    401 Michigan St Burlington, IN 46915

    For Sale
    $250,000

    Former bank, high traffic, income potential.

    Property size:
    3,670 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    314
    This exceptional 3,670 square foot commercial property, situated on a 0.3-acre lot at 401 S Michigan Street in Burlington, Indiana, presents a unique investment opportunity. Built in 1971, this former bank boasts a solid structure and is ready for immediate occupancy. The building features an iconic vault and numerous security deposit boxes, offering versatile possibilities for a variety of businesses. The open floor plan allows for creative customization, making it ideal for restaurants, bakeries, office spaces, salons, or even a return to its banking roots. A significant advantage is the existing drive-up ATM, currently under contract with Horizon Bank, generating a consistent income stream. Further enhancing its functionality 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, providing room for expansion. The property's prime 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 in excellent condition. Bakery design renderings are available for interested parties. This is a turnkey opportunity to own a well-maintained, income-producing commercial property in a thriving downtown location.

    Property Features for 401 Michigan St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    3,670 SF
    Lot Size
    13,068 SF

    Building Details

    Year Built
    1971
    Property Profile Location Intelligence

    Current Use by Public Records

    Horizon Bank Bank Katie's Joyful Memories ... Photographer

    Suggested Use

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

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    Nearby Similar for Sale

    • $250,000
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      Downtown Burlington Commercial Gem

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      Downtown Burlington Retail Space

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    FAQs

    What type of property is this?
    Commercial real estate - Former bank, high traffic, income potential.
    Where is this commercial real estate located?
    The property is located at 401 Michigan St Burlington, IN.
    What is the asking price?
    The asking price for this property is $250,000.
    (317) 776-0200
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    401 Michigan St Burlington, IN 46915
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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 St Burlington, IN 46915
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