Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1805 Miller Ave Shelbyville, IN

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    45,000 SF warehouse with ample parking and convenient location.

    Type:INDUSTRIAL
    Property size:
    45,000 SF
    Lot size:
    9.32 Acres
    Added:
    Apr 1, 2025
    Days on Market:
    394
    Last Refresh:
    Apr 5 at 9:51 pm

    Property Features for 1805 Miller Ave

    General Information

    Standard status
    Active
    Size
    45,000 SF
    Lot size
    9.32 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Jeff Merritt

    Listing agent Jeff Merritt

    Listing office CBRE | Indianapolis

    Listing date Apr 1, 2025

    Source Moodyscre

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

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE | Indianapolis

    Overview

    Shelbyville Warehouse on 5.7 Acres

    This warehouse property features approximately 45,000 square feet of space on approximately 5.7 acres. The building includes men’s and women’s restrooms, and a fire suppression system. The clear height is 20 feet, reaching 22 feet at its peak. There are four drive-in doors: one measuring 20 feet by 14 feet, one measuring 10 feet by 14 feet, and two measuring 8 feet by 14 feet. The property provides 78 dedicated parking spaces. It is zoned as Business General (BG) District. Electrical features include 277/480v 3 Phase power, a 1600 Amp Switch Gear, ITE/Siemens Panels, six 480 panels, and two 225 kvd transformers for 480-120/208v 3 Phase Power. The property is located 10 minutes from I-74.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hubler Collision Repair ... Auto Repair Shop American Auto Detailing Car Wash

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

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

    Similar Places Nearby

    • Ralph Leppert Self Storage — 601 S Noble St, Shelbyville, IN 46176
    • Custom Storage — 1204 Hale Rd, Shelbyville, IN 46176
    • Beverly Street Self Storage — 1126 Miller Ave, Shelbyville, IN 46176
    • nul — 137 e washington st, shelbyville, in 46176

    Location Insight

    • Map
    • Local Demand
    City
    Shelbyville
    County
    Shelby
    State
    Indiana
    Longitude
    -85.7993
    Latitude
    39.5088

    Nearby Similar for Sale

    • $574,900
      6,960 SF

      Downtown Shelbyville Investment Opportunity

      Three fully leased storefronts with value-add residential space.
      12 S Harrison Street, Shelbyville, IN 46176
      View Details
    • $324,900

      Shelbyville Investment Property: Five Units

      Five-unit investment property in Shelbyville's historic West Side neighborhood.
      617 W Franklin Street, Shelbyville, IN 46176
      View Details
    • $110,000
      2,199 SF

      Shelbyville Triplex Investment Opportunity

      Triplex in Shelbyville, great for investors or homeowners.
      110 E South Street, Shelbyville, IN 46176-2189
      View Details
    • $299,900

      Shelbyville Quadruplex Investment Opportunity

      Quadruplex near downtown Shelbyville with stable tenants and low maintenance.
      106-108 W Pennsylvania Street, Shelbyville, IN 46176
      View Details
    • $110,000

      Shelbyville Triplex: Investment Opportunity

      Triplex in Shelbyville, Indiana, ideal for investors or homeowners.
      110 E South Street, Shelbyville, IN 46176
      View Details
    • $120,000

      Shelbyville Duplex on Generous Lot

      Duplex on a generous lot, great for investors.
      328-330 W Mechanic Street, Shelbyville, IN 46176
      View Details
    • $120,000
      2,240 SF

      Shelbyville Duplex on Mechanic Street

      Duplex on a generous lot, great for investors.
      328 E Mechanic Street, Shelbyville, IN 46176-1628
      View Details
    • $2,189,415
      12,375 SF

      Retail Investment Opportunity in Shelbyville

      Prime retail investment opportunity in Shelbyville, Indiana.
      570 Saraina Rd, Shelbyville, IN 46176
      View Details
    • $1,000,000
      5,000 SF

      Shelbyville Retail Space For Sale

      5000 sq ft retail space with expansion potential.
      613 E State Road 44, Shelbyville, IN 46176
      View Details
    • $3,500,000
      61,479 SF

      Shelbyville Mixed-Use Redevelopment Opportunity

      Redevelop entire block in Shelbyville's Central Business District.
      134 E Jackson St, Shelbyville, IN 46176
      View Details
    • $3,925,000
      45,000 SF

      ±45,000 SF Warehouse Building in Shelbyville

      45,000 SF warehouse on 5.7 acres, convenient location.
      1805 South Miller Avenue, Shelbyville, IN 46176
      View Details
    • $1,190,000
      5,940 SF

      Fresenius Dialysis Center Investment Opportunity

      Fully-occupied medical office building leased to Fresenius Medical Care.
      2500 Parkway Dr, Shelbyville, IN 46176
      View Details

    FAQs

    What type of property is this?
    Warehouse - 45,000 SF warehouse with ample parking and convenient location.
    Where is this warehouse located?
    The property is located at 1805 Miller Ave Shelbyville, IN.
    What are key features of this property?
    This property features: ±45,000 SF Warehouse on ±5.7 Acres; Located 10 minutes from I‑74; Parking: 78 dedicated spaces
    (317) 269-1000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jeff Merritt
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!