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    1050 N State Road 5 Shipshewana, IN 46565

    For Sale
    $1,800,000

    High-visibility commercial lots in a bustling tourist destination.

    Lot size:
    2.03 Acres

    Property Features for 1050 N State Road 5

    General Information

    Lot size
    2.03 Acres

    Source: Sturges Property Group Agent Neal Bowman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Prime Commercial Lots in Shipshewana

    Two commercial lots are available at the intersection of US 20 and SR 5 in Shipshewana. The location offers visibility and access in a Northern Indiana tourist destination. The sites are suited for a convenience store or quick-serve restaurant and are ready for development. The property is situated at the northwest corner of US 20 and SR 5, just south of downtown Shipshewana. US 20 has a daily vehicle count of 10,768, and SR 5 has a daily vehicle count of 7,794. The property is surrounded by large employers, and national and regional retailers. Shipshewana sees approximately 2 million tourists annually, creating consistent tourism flow. It has access to cities like Chicago, Fort Wayne, and South Bend via US 20 and Indiana Toll Road 80/90. The property is zoned for commercial use, and a ground lease is also available.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Building Supply Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Gym & Fitness Pharmacy Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Shipshewana
    County
    LaGrange
    State
    Indiana
    Longitude
    -85.580862
    Latitude
    41.655798

    Nearby Similar for Sale

    • $284,900
      1,200 SF

      Retail Property in Shipshewana

      Well-maintained retail property in a high-traffic tourist destination.
      135 Harrison St, Shipshewana, IN
      View Details

    FAQs

    What type of property is this?
    Commercial land - High-visibility commercial lots in a bustling tourist destination.
    Where is this commercial land located?
    The property is located at 1050 N State Road 5 Shipshewana, IN.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: - High-visibility location at the busiest corner in Shipshewana (US 20 and SR 5).; - Exceptional access and exposure in a high-traffic tourist destination.; - High daily vehicle count (10,768 on US 20 and 7,794 on SR 5).
    (260) 424-8448
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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
    1050 N State Road 5 Shipshewana, IN 46565
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