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1511 N Meridian Street

Portland, IN 47371

ActiveListed Mar 16, 2026 · 179 days on market

Key facts

Living area
2,554 sqft
Lot
0.66 acres
Year built
1975
Type
Commercial Sale · Retail
MLS #
22089023
County
Jay
Total building area
2,554 sqft

About this home

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.

Description provided by the listing brokerage.

Interior

Security
Smoke Detector(s)

Exterior

Roof
Metal
Parking and garage
CarportCommonConcreteStorage

Systems

Heating
Forced Air
Cooling
Central Air
Utilities
Electricity ConnectedSewer ConnectedWater Connected

Lot and HOA

Zoning
HS

Schools

School district
Jay School Corporation

Taxes

Estimated annual tax
$40 / yearTwice the semi-annual installment the listing reports.
Tax year
2026

Estimate your monthly payment

$2,693per month, estimated
Principal and interest $2,515Property tax $3Insurance $175
20% · $99,800
6.47%
Loan type
Loan term

Estimates only. This calculator does not give a quote. Defaults reflect Marion County / Indianapolis averages: property tax from this home's actual county bill, homeowners insurance at 0.42% annually. Conventional: PMI runs 0.55% of the loan annually when your down payment is below 20%, and drops automatically at 22% equity. Your real number depends on credit, taxes assessed for the parcel, escrow, condo insurance, and HOA. Rates as of May 2026 and subject to change.

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Listed at$499,000
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