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Rare Opportunity - Former Gray's Restaurant | Turnkey or Redevelopment Site - Price Drop! Motivated! just reduced the price on this iconic former restaurant space, creating an exceptional opportunity for investors, developers, or restaurateurs! Located in a high-visibility, well-traveled area, this property is ideal for a turnkey restaurant setup-with existing kitchen infrastructure, dining space, and layout ready to go-or perfect for redevelopment into a retail, mixed-use, or commercial concept. The building offers flexible zoning, ample parking, and strong traffic counts, making it a strategic site for a variety of business models. Whether you're launching your next dining concept or reimagining the site entirely, this is a property with strong bones and endless potential. Priced to sell - bring offers!
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Listing Snapshot
Price
$4,800,000
Days On Site
584 Days
Bedrooms
N/A
Inside Area (SqFt)
22,647 sqft
Total Baths
N/A
Full Baths
N/A
Partial Baths
N/A
Lot Size
5 Acres
Year Built
1979
MLS® Number
22021733
Status
Pending
Property Tax
N/A
HOA/Condo/Coop Fees
N/A
Sq Ft Source
N/A
Friends & Family
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Recent Activity
8 months ago
Status changed to Pending
8 months ago
Listing updated with changes from the MLS®
a year ago
Price changed to $4,800,000
2 years ago
Listing first seen on site
General Features
Acres
5
Parking
AsphaltStorageWorkshop in Garage
Property Sub Type
Retail
SqFt Total
22647
Utilities
Natural Gas ConnectedSewer ConnectedWater Connected
Zoning
Commercial
Interior Features
Cooling
Central Air
Heating
Natural Gas
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Exterior Features
Road Frontage
State Road
Roof
Shingle
Community Features
MLS Area
5503 - Morgan - Brown
School District
Mooresville Con School Corp
Township
Brown
Roads
Asphalt
Schools
School District
Mooresville Con School Corp
Elementary School
Unknown
Middle School
Paul Hadley Middle School
High School
Mooresville High School
Listing courtesy of Your Home Team (317) 281-7996
Listings courtesy of Metropolitan Indianapolis Board of REALTORS® as distributed by MLS GRID. All information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties that a consumer may be interested in purchasing. All information is believed to be reliable but is not guaranteed and should be independently verified.
Based on information submitted to the MLS GRID as of 2026-09-23 03:36 AM UTC.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied
Open House Information is subject to change without notice. All information should be independently reviewed
and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.