1511 N Meridian Street Portland, IN $ 499,000
1511 N Meridian Street
$ 499,000
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1511 N Meridian Street

Portland, IN, 47371
$ 499,000
Bedrooms-- Baths-- Sq 2,554

Monthly Estimate*

$ 3,072

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Commercial Property for sale in Portland, IN

for $499,000. This 2,554 square foot building was built in 1975 on a lot size of 0.66.

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.

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Commercial Active

Price

$ 499,000

Property Type

Commercial

Taxes

$ 40

Style

Retail

Lot Size

0.66

Year Built

1975

Town/City

Portland

County/Region

Jay

MLS | Web ID

22089023

Features
General
Heating Forced Air
Cooling Central Air
Utilities Electricity Connected Sewer Connected Water Connected
Possession Negotiable
Roof Metal
Zoning HS
Security Features Smoke Detector(s)
Year Built 1975
Township Wayne
Property Subtype Retail
Tax Year 2026
Current Use Restaurant
Building Name Chicago's Pizza
County Jay
New Construction N
Property Type Commercial Sale
Possible Use Restaurant Retail Vacant
Status Active
Directions GPS Friendly
City Portland
High School District Jay School Corporation
MLS Area 3807 - Jay - Wayne
Lot Size Square Feet 28750
Current Financing Conventional FHA USDA VA
Additional Parcels Y/N N
Standard Status Active
Tax Lot n/a
Legal Description Pt Sw 1/4 Nw 1/4 115' X 250.40' S16 T23 R14
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Exterior
Parking Features Carport Common Concrete Storage
Building Area Total 2554
Lot Size Acres 0.66
Road Surface Type Asphalt
Waterfront Y/N N
Road Frontage Type City Street Highway
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* Excluded Features
List By
Tarter Realty Auction & Apprai

Broker

matt@teamtarter.com

Email

Affordability Calculator

$3,076
Per Month
100%
0%
0%
Monthly Principal & Interest
$3,072
Monthly Property Taxes
$3
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4050401 Elementary School
4048276 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
3/16/2026$499,000 Listed Price

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1511 N Meridian Street, Portland, IN, 47371 is a Commercial Property for sale at $499,000 with 2,554 sqft and a lot size of 0.66. 1511 N Meridian Street was built in 1975. The property's zip code is 47371 which is in Portland, IN