1025 HWY 135 NE, Palmyra, IN 47164

Positioned along Highway 150 in Palmyra, this exceptional mixed-use investment and redevelopment opportunity offers substantial potential for commercial operators, developers, and investors seeking a versatile property with multiple future use possibilities. Situated on approximately 1.367 acres, the property features a prominent 6000 square foot commercial structure formerly operated as the town grocery store and currently utilized for retail operations, mechanic shop space, and storage facilities. In addition to the commercial improvements, the property includes an occupied 3-bedroom, 1-bath residential home, providing immediate occupancy and additional income-producing potential. The expansive lot size and layout create an attractive opportunity for future development, with potential uses including retail redevelopment, multifamily or apartment construction, mixed-use concepts, or a single-family residential subdivision. The existing commercial building offers substantial square footage, excellent frontage, and strong visibility along a well-traveled corridor, making it well-suited for a variety of business applications. While the structure would require comprehensive renovation to accommodate a modern retail concept, restaurant, or bar & grill operation, the property provides an outstanding foundation for a value-add redevelopment project tailored to a purchaser's vision. With its strategic location, flexible potential uses, and combination of commercial and residential components, 1025 Highway 150 NE presents a rare opportunity to acquire a property with significant long-term upside in Southern Indiana.