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1511 N Meridian St 2,455 SF Retail Building Portland, IN 47371 $687,692 CAD ($280.12 CAD/SF)
Investment Highlights
- Great location!
Executive Summary
Turnkey restaurant opportunity located on a highly visible and large corner lot along a major highway in Portland. This fully remodeled commercial building offers excellent traffic counts, outstanding exposure, and a convenient drive-up window. The property features a spacious asphalt parking lot with easy access, making it ideal for dine-in, carryout, or drive-through service.
The building has been extensively updated and is truly move-in ready. Improvements include new exterior paint, expanded and newly paved parking lot, updated electrical, new HVAC systems, new plumbing, new drywall, brand new bathrooms, and a fully updated dining area with new booths. Additional features include a walk-in cooler and a new storage shed for added functionality.
With its prime location, high visibility, and turnkey restaurant setup, this property offers an outstanding opportunity for restaurant operators, franchise concepts, or investors. Offered at $499,000.
Agent has partial ownership of property. The driveway on the south side of the property is a shared driveway. The north side of the property has an easement for ingress and egress. Any & all personal property & equipment (including the exhaust /hood oven system) are not included in the sale but are negotiable.
The building has been extensively updated and is truly move-in ready. Improvements include new exterior paint, expanded and newly paved parking lot, updated electrical, new HVAC systems, new plumbing, new drywall, brand new bathrooms, and a fully updated dining area with new booths. Additional features include a walk-in cooler and a new storage shed for added functionality.
With its prime location, high visibility, and turnkey restaurant setup, this property offers an outstanding opportunity for restaurant operators, franchise concepts, or investors. Offered at $499,000.
Agent has partial ownership of property. The driveway on the south side of the property is a shared driveway. The north side of the property has an easement for ingress and egress. Any & all personal property & equipment (including the exhaust /hood oven system) are not included in the sale but are negotiable.
Taxes & Operating Expenses (Actual - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Taxes |
$67,667
|
$27.56
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$67,667
|
$27.56
|
Taxes & Operating Expenses (Actual - 2026)
| Taxes (CAD) | |
|---|---|
| Annual | $67,667 |
| Annual Per SF | $27.56 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $67,667 |
| Annual Per SF | $27.56 |
Property Facts
Sale Type
Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,455 SF
Building Class
C
Year Built/Renovated
1975/2024
Price
$687,692 CAD
Price Per SF
$280.12 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.66 AC
Zoning
HS
Parking
30 Spaces (12.22 Spaces per 1,000 SF Leased)
Frontage
40’ on Meridian Street
Amenities
- Restaurant
- Drive Thru
- Storage Space
- Air Conditioning
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 38-07-16-200-016.000-034 | Total Assessment | $368,033 CAD (2025) |
| Land Assessment | $109,885 CAD (2025) | Annual Taxes | $67,667 CAD ($27.56 CAD/SF) |
| Improvements Assessment | $258,148 CAD (2025) | Tax Year | 2026 Payable 2026 |
Property Taxes
Parcel Number
38-07-16-200-016.000-034
Land Assessment
$109,885 CAD (2025)
Improvements Assessment
$258,148 CAD (2025)
Total Assessment
$368,033 CAD (2025)
Annual Taxes
$67,667 CAD ($27.56 CAD/SF)
Tax Year
2026 Payable 2026
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1511 N Meridian St
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