401 Michigan Rd Burlington, IN 46915-1504
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.