Technical
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Property profile

401 Michigan St Burlington, IN 46915

OFF-MARKET
Retail properties & Spaces
3,670 SF Built 1971
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Property summary

AI-generated overview

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 profile

Verified
Property type Retail properties & Spaces
Year built 1971
Total area 3,670 SF

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Bank Loan Service
  • Photography Service (Bike/Boat/Book/etc) Store

Location

401 Michigan St Burlington, IN 46915
Burlington metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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