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Property profile & analytics
OFF-MARKET
Retail space

534 Miller Ave Shelbyville, IN 46176-1950

4,352 SF 0.15 ac lot Built 1900
Entity Owned ~ Est. High Equity
Property ID
US31-1874808
Property summary
AI-generated overview

This exceptional Shelbyville property offers a unique blend of commercial and residential space, ideal for diverse uses. The main retail building at 534 Miller Avenue, totaling 4,352 square feet, is currently configured as a church but is zoned for a variety of permitted uses under IS zoning. Its striking sanctuary boasts soaring 17-foot ceilings and 12-foot eaves, creating an impressive and adaptable space. The upper level comprises two offices, while the lower level features multiple classrooms, a relaxing lounge area, and separate restrooms for men and women. Adding to its appeal is the adjacent residential property at 535 Dunn Avenue, a well-maintained 1,774-square-foot home. This two-bedroom, two-bathroom residence includes a spacious kitchen and most appliances. A significant advantage is the converted two-car garage, now a finished family life center with its own kitchen and restroom, offering versatile space for gatherings or additional living quarters. Situated on a 0.15-acre lot, this combined property presents a compelling investment opportunity in a prime location near Shelbyville's downtown area. The property's flexible zoning and existing features make it suitable for a wide range of commercial ventures, while the included residence provides additional income potential or comfortable living space. This is a rare chance to acquire a substantial property with significant upside in a thriving community. The asking price is $339,025.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1900
Construction WOOD
Total area 4,352 SF
Lot 0.15 ac (6,534 SF)
APN 73-11-06-200-308.000-002
UPID US31-1874808
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
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
534 Miller Ave LLC
534 Miller Ave LLC
since 2025
1 recorded transaction
2025
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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