Description

Live upstairs. Operate downstairs. Invest once. Opportunities like this don’t come around often-this rare mixed-use property in the heart of Knightstown combines retail and residential in one building, creating multiple income streams and long-term flexibility for an owner-user or investor. Downstairs, the property features a commercial winery production space (business not included) with a dedicated production area. Equipment may be purchased separately, allowing a buyer to continue the current use or reimagine the space for another retail, food, beverage, or creative concept. Upstairs, the furnished 2-bedroom, 1-bath apartment offers separate utilities, its own address, and independent water and electric-ideal for owner occupancy, short- or long-term rental, or employee housing. A second-floor storage area and attic provide valuable additional space rarely found in properties like this. The building has been thoughtfully updated to reduce future capital expenses. Recent improvements include a new asphalt-shingle roof in 2025, new siding in 2025, attic insulation in 2025, two new furnaces in 2024, a new AC system in 2024, and upgraded plumbing and drainage in 2021. Parking is a major advantage, with a rear lot where the city is working to create additional parking, plus ample public parking directly across the street at the town square, supporting both residential and commercial uses. Knightstown continues to gain momentum as a smart Central Indiana investment. Positioned along the I-70 corridor, the town offers convenient access to Indianapolis while maintaining a charming, walkable downtown. Ongoing revitalization, support for local businesses, and lower acquisition costs compared to metro markets make this an attractive opportunity for investors seeking growth, stability, and community appeal. The sky is truly the limit with this property.