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    Eastern Ave Shelbyville, IN 46176

    For Sale
    $120,000

    0.36-acre lot, R-1 zoning, $120,000

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional 0.36-acre commercial land parcel, located on Eastern Avenue in Shelbyville, Indiana, presents a unique investment opportunity. Currently zoned R-1, the property (APN 731104100081000002) offers flexibility for various uses, including continued use as parking, as it previously served this purpose for the former Fiddlers Three Restaurant. The asking price is $120,000, translating to $333,333 per acre. Situated in Shelby County, Indiana, with a zip code of 46176, this property's location provides convenient access to local amenities and transportation routes. While currently zoned R-1, the Shelbyville Planning & Building Department indicates that a rezoning might be necessary for alternative uses, with Business Highway (BH) zoning potentially being the most suitable classification for redevelopment. This property is being sold in conjunction with another parcel (1415 E. Michigan Road, Blc 21956964), with both sales subject to a common closing. This presents a compelling opportunity for investors seeking a strategically located land parcel with potential for diverse development options. The property's size and zoning make it an attractive prospect for various commercial ventures, subject to necessary approvals and permits. Detailed information regarding zoning regulations and potential redevelopment scenarios is readily available from the Shelbyville Planning & Building Department.

    Property Features for 0 Eastern Ave

    General Information

    Property type
    Land
    Lot Size
    15,682 SF
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Shelbyville
    County
    Shelby
    State
    Indiana
    Longitude
    -85.7563252
    Latitude
    39.5186829

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    FAQs

    What type of property is this?
    Land - 0.36-acre lot, R-1 zoning, $120,000
    Where is this land located?
    The property is located at Eastern Ave Shelbyville, IN.
    What is the asking price?
    The asking price for this property is $120,000.
    (317) 852-4091
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    Eastern Ave 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
    Eastern Ave Shelbyville, IN 46176
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