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    1415 Michigan Rd Shelbyville, IN 46176

    For Sale
    $399,000

    Prime Shelbyville location, vacant storefront, redevelopment potential.

    Property size:
    4,936 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This 4,936 square foot storefront, located at 1415 E Michigan Rd in Shelbyville, Indiana (zip code 46176), presents a unique redevelopment opportunity. Situated on a 0.35-acre lot, this vacant property boasts exceptional visibility on St. Rd. 44, benefiting from Business Highway (BH) zoning, allowing for diverse uses. Originally built in 1969, the building features multiple dining and meeting rooms, four bathrooms, four fireplaces, a walk-in cooler, a walk-in freezer, two kitchens with full commercial cooking equipment (including a flattop, fryers, grill, stove, ovens, multiple coolers, and prep station), a bar, and ample seating with tables, chairs, and booths. The property's APN is 731104100114000002. Two additional asphalt lots are available for purchase, offering potential for expanded parking. This is an ideal investment for owner-users seeking a high-profile location with significant existing infrastructure. The asking price is $399,000. The property is being sold as-is.

    Property Features for 1415 Michigan Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    4,936 SF
    Lot Size
    15,246 SF

    Building Details

    Year Built
    1969

    HighLights

    • $399,000 asking price for this vacant storefront.
    • 4,936 square foot retail building in Shelbyville, Indiana.
    • Vacant, owner‑user redevelopment opportunity.
    • Located on St. Rd. 44 with high visibility, Business Highway zoning.
    • 0.35‑acre lot; additional parking lots available.
    • Features multiple dining/meeting rooms, 4 bathrooms, 4 fireplaces, walk‑in cooler/freezer, 2 kitchens, and ample restaurant equipment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelbyville
    County
    Shelby
    State
    Indiana
    Longitude
    -85.7560502
    Latitude
    39.5195087

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    FAQs

    What type of property is this?
    Individual retail property - Prime Shelbyville location, vacant storefront, redevelopment potential.
    Where is this individual retail property located?
    The property is located at 1415 Michigan Rd Shelbyville, IN.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: $399,000 asking price for this vacant storefront.; 4,936 square foot retail building in Shelbyville, Indiana.; Vacant, owner-user redevelopment opportunity.
    Request Owner's contact information
    1415 Michigan Rd 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
    1415 Michigan Rd Shelbyville, IN 46176
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