The funding is being made available through the UK Shared Prosperity Fund (UKSPF).
Shropshire Council said the project would help to preserve “the unique character of our historic towns”.
The grants are available to support improvement works that will help make properties more attractive and rentable.
The council said that in exceptional cases, higher grants may be considered.
All applications for funding will be assessed against the potential for economic impact, deliverability, and alignment with conservation area priorities.
Councillor Rob Wilson said: “This is a fantastic opportunity to bring long-vacant properties back into use.
“By supporting landlords to invest in their buildings, we’re helping to revitalise our high streets, encourage new businesses, and strengthen the economic resilience of our market towns.”
