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Property profile & analytics
OFF-MARKET
Commercial land

401 Michigan Rd Burlington, IN 46915-1504

0.06 ac lot
Individually Owned 8-yr Hold ~ Est. High Equity
Property ID
US31-2800937
Property summary
AI-generated overview

This exceptional 0.34-acre commercial property at 401 Michigan Road, Burlington, IN, presents a unique investment opportunity. The building, a well-maintained 1971 structure, boasts a captivating history as a former bank, complete with an original vault and numerous security deposit boxes. The flexible interior layout, currently without fixed walls, allows for a wide range of uses. Imagine transforming this space into a thriving restaurant, bakery, office complex, salon, or even returning it to its banking roots. The possibilities are truly limitless. A significant advantage is the existing drive-up ATM, currently under contract with Horizon Bank, generating a consistent income stream. Further enhancing the property's appeal is a drive-through teller window at the rear, recently updated with fresh concrete. Ample parking is available both in front of the building and in an additional lot at the rear, offering potential for expansion. The strategic location on SR29/US421 ensures high visibility and significant traffic flow. Recent improvements include a new gas furnace and completed mold remediation, ensuring the building is move-in ready. Architectural renderings showcasing a potential bakery conversion are available upon request. Priced at $250,000, this property offers an unparalleled chance to establish a successful business in a vibrant downtown setting.

Property profile
Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Lot 0.06 ac (2,744 SF)
APN 08-09-34-004-061.000-003
UPID US31-2800937
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Lawrence M Hayes · 8 yrs held
Lawrence M Hayes
since 2018
2 recorded transactions
2018
Price N/A
2014
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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