For Sale or Lease. Rare Mixed-Use Investment Opportunity in Historic Downtown Knightstown! This exceptional property offers a unique opportunity to own a substantial portion of the community square in the heart of historic Knightstown. The property features two commercial spaces on the main level, currently combined and operating as a state-of-the-art, turnkey restaurant with equipment and an established restaurant operation in place. The upper level includes two separate apartments, providing additional rental income and creating an attractive mix of commercial and residential uses. Each unit is equipped with its own HVAC system, providing independent climate control for added convenience and flexibility. The historic building has benefited from multiple updates and improvements and is ready for continued commercial and residential use. Whether you’re looking to expand an existing business, operate a restaurant while generating residential rental income, or add a distinctive mixed-use property to your investment portfolio, this property offers versatility and strong potential. Opportunities to acquire a property of this size and location on the historic Knightstown community square are rare. Don’t miss your chance to own a piece of downtown Knightstown with multiple income-producing possibilities.
2.5 COMMERICAL ACRES, with 29 UNIT STORAGE BUILDING! At I-70 Exit 115/SR 109! Adjacent to eastbound off ramp! New Henry Community Health Outpatient Center nearby! Already ZONED GENERAL BUSINESS/COMMERCIAL! Space for additional storage buildings on the 2.5 AC parcel! Also, 4.5 AC parcel for sale (still to be divided, hence, will receive new parcel numbers once completed.)
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.
Updated investment property that checks all the boxes. Fully occupied, five unit building in historic Knightstown. Charming finishes, location, and appeal. Original hardwood floors, tall ceilings, and exposed brick walls mix with modern plumbing and electrical throughout. Unit 24 houses Historic Knightstown Inc and includes a show room, kitchenette, bathroom and storage. Unit 26 exudes character and features a lobby, three private offices and washer/dryer connection. Unit 28A (2nd FL) is features 14' ceilings and two large/open rooms. Unit 28B (2nd FL) is a fully renovated two bedroom apartment with open floor plan. Unit 32 is also fully renovated commercial unit. Each unit features an updated bathroom. Tenant pays gas & electric (individually metered). Owner pays water.
Albert Wright Page, License RB14038157, Xome Inc., License RC51300094, [email protected], 844-400-XOME (9663), 4471 North Billman Estates, Shelbyville, IN 46176
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Knightstown is located in Indiana. Knightstown, Indiana has a population of 2,109. Knightstown is more family-centric than the surrounding county with 28.72% of the households containing married families with children. The county average for households married with children is 28.42%.
The median household income in Knightstown, Indiana is $55,000. The median household income for the surrounding county is $54,154 compared to the national median of $69,021. The median age of people living in Knightstown is 39 years.
The average high temperature in July is 83.7 degrees, with an average low temperature in January of 18.4 degrees. The average rainfall is approximately 44 inches per year, with 23.9 inches of snow per year.
