For sale: Former Shapiro's building in Carmel

August 8, 2013
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The Range Line Road building that housed Shapiro’s Delicatessen for more than a decade is for sale following the restaurant’s June closure.

The Carmel Redevelopment Commission issued a request for proposals from potential buyers this month. The minimum asking price: $2.1 million.

Shapiro’s built the 11,500-square-foot eatery at 918 S. Range Line Road in 2001, kicking off the Carmel City Center redevelopment project. But nearby development was slow to materialize, and the deli struggled to make ends meet.

The CRC bought Shapiro’s $2.5 million mortgage three years ago, and but financial woes forced the company to close the Carmel restaurant June 16. President Brian Shapiro handed over the keys and remaining ownership in the building about a week later.

Shapiro’s flagship deli in downtown Indianapolis remains open.

CRC President Bill Hammer said other restaurant operators have expressed interest in the property, which includes the brick building, limited land and surface parking rights.

Bids are due to the commission by Sept. 18. In addition to making an offer, would-be buyers must identify how they intend to use the building. It is zoned for office, retail and/or commercial use.

The minimum price is based on the average of two appraisals.

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  • How about a Red Lobster?
    I wish the only local RL was not in Castleton. Maybe not fancy enough for Carmel, but I think it would be great!
    • How about something local
      Hello...let's get a local place to open up there, not some national chain. Let's have some high expectations of the place and location, shall we?
      • Not a good restaurant location
        Unfortunately the spot is just too isolated there. If it wasn't for the Shapiro's sign, I would have assumed that was a part of the government complex. Seems like a location for offices, not retail and restaurants. I hope Shapiro's eventually reopens somewhere else in Carmel. Foot traffic might not have been enough at that location, but their lunch catering orders always seemed to be doing well judging by the number of deliveries every day to offices in carmel. Maybe they can try a smaller space in that new retail development that is supposed to go up eventually off Spring Mill.
        • Not Surprised
          They should never have left their 86th & Township Line location to begin with.
          • Red Lobster
            Elaine, I know there is at least a Red Lobster on Shadeland Ave. and another on W. 38th St.
          • Location
            Don't understand comments regarding bad location. There is plenty of visibility at this location, as well as close parking. Other restaurants nearby appear to be doing well. Shapiro's prices were getting too high.
          • off Springmill?
            Personally, I think anyone opening a new local business in the bridges property, is a fool. With all of the 31 construction happening over the next few years, specifically between St Vincents and 96th street, the access to that location is going to be terrible. Remember what happened to all the businesses at 116th and Keystone while that construction was going on? Deja Vu.
          • To TD
            Agreed. However sometimes even smart business people make bad decisions. Personally, I always felt they were sold a bill of goods by the City. There is more to this than meets the eye. I'm afraid the same will happen to many of the retail and restaurant business in the City Center.
            • City Center doing fine!
              Have you been to City Center lately? hour waits at Matt the Miller, full house at Divvy, Yoga and spinning studios thriving, best gift / home store ever with Addendum, new outpost of chic 14 Districts, Bike Line is ALWAYS busy, Bath Junkies has 4 people working whipping up products!
            • Agreed
              I agree. A local resturaunt would be great. There are TOO MANY chains!

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