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    401 Michigan St Burlington, IN 46915

    For Sale
    $279,999

    Prime Retail Space, 3670 sq ft, High Traffic Area

    Property size:
    3,670 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 3,670 square foot retail space, located at 401 S Michigan St in Burlington, Indiana, presents a unique investment opportunity. Previously a bank, this well-maintained Class B building boasts a solid 1971 construction and sits on a 13,200 square foot lot. The property features a prominent vault, numerous security deposit boxes, and a drive-through teller window with recently poured concrete. The flexible floor plan allows for diverse uses, including restaurants, bakeries, offices, or even another bank. Currently, a four-year agreement with Horizon Bank generates additional income through a self-operated ATM. The building benefits from convenient access to SR29/US421, ensuring high visibility and traffic. Recent improvements include a new gas furnace and mold remediation. Parking is available both in front of the building and in an additional lot at the rear, offering potential for expansion. Zoned B3 Central Business, this property is priced at $279,999 ($76.29/sq ft). Bakery renderings are available upon request. This is a truly blank slate, ready for your vision.

    Property Features for 401 Michigan St

    General Information

    Property type
    Individual retail properties
    Square Feet
    3,670 SF
    Class
    B

    Building Details

    Year Built
    1971
    Stories
    1

    HighLights

    • 3,670 SF retail space in Burlington, IN, on a 13,200 SF lot.
    • Former bank building with a drive‑through window and vault.
    • Flexible floor plan suitable for various uses, including restaurant, bakery, or office.
    • Four‑year ATM lease with Horizon Bank provides additional income.
    • Located on SR 29/US 421 with high visibility and ample parking.
    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
    -86.3953539
    Latitude
    40.4821487

    Nearby Comparable

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    Nearby Similar for Sale

    • $250,000
      3,670 SF

      Downtown Burlington Commercial Gem

      Former bank, high traffic, income potential.
      401 Michigan St, Burlington, IN 46915
      View Details
    • $250,000
      0.34 Acres

      Downtown Burlington Commercial Gem

      Iconic Bank Building - Endless Potential
      401 Michigan Rd, Burlington, IN 46915
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Prime Retail Space, 3670 sq ft, High Traffic Area
    Where is this individual retail property located?
    The property is located at 401 Michigan St Burlington, IN.
    What is the asking price?
    The asking price for this property is $279,999.
    What are key features of this property?
    This property features: 3,670 SF retail space in Burlington, IN, on a 13,200 SF lot.; Former bank building with a drive-through window and vault.; Flexible floor plan suitable for various uses, including restaurant, bakery, or office.
    Request Owner's contact information
    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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