Residents have expressed their concerns about the building at 22 Market Place, next to Blue Florists, which has had debris falling from it and barriers around it for more than a year.
The council said it has formally written to the owners and warned them unless urgent action is taken, it could consider using its powers to take over the structure and make it safe.
Other properties throughout the town, including the former Beehive pub in Curriers Lane, which has been deemed safe by council building assessors, have caused concern posing a danger to young schoolchildren exploring the premises.
Shropshire councillor for Shifnal North, Kevin Turley said he was urging residents to contact the council individually over the issues.
He said: "A lot of parents are particularly worried about The Beehive, as it is on route to schools and has been left to fall apart.
"It has been left empty for so long the fence around it has been broken and kicked down – there's broken items all around that area and if a child goes running into it, it could cause a problem. These empty buildings could be put to much better use.
"People need to get their voices heard. By all means contact myself but the more people that email the council, the more logs Shropshire Council will make of the issue."
Gwilym Butler, Shropshire Council cabinet member for communities, place planning and regulatory services, said: “Shropshire Council’s building control team have assessed The Beehive in Shifnal and have advised that it is not immediately dangerous and that the premises is secure.
“In regards to 22 Market Place, it is a listed building and Shropshire Council is aware that is in poor condition.
"We have formally written to the owners of the building to warn them that unless they undertake urgent works to address the poor external condition of the building the council will consider using its planning enforcement powers. We are currently awaiting their response.
“In the meantime, the council put security barriers in place to remove the danger to the public and make the building safe. The council is currently seeking to recover the cost of the barriers from the owners of the property.”
A recent report from Karen Collier, regulatory services operations manager at Shropshire Council, said there are 1,329 long-term empty properties in the county and a further 455 which are empty and exempt from paying council tax.
Ms Collier said the council is currently working to secure these homes and ensure they do not become a problem.