A Wangaratta man is expected to be charged with handle stolen goods after police recovered a $15,000 bike stolen from a Wangaratta bike shop at his home on Thursday.

Detective Senior Constable Aidan Hogan of Wangaratta Criminal Investigation Unit said the 40 year old was arrested, interviewed and released on Thursday evening, and will be charged on summons with handle stolen goods.

"Our investigation into the theft and burglary of the bike is ongoing," he said.

Det Sen Const Hogan said the Trek mountain bike was stolen from Rock and Road Cycles in Rowan Street around 3.30am on Thursday.

Security cameras filmed a male Caucasian offender, wearing a black hoodie, smash a large front glass window to access the business, take the bike and head off in a westerly direction on Rowan Street.

Det Sen Const Hogan said Sergeant James McGinn of Wangaratta police observed a man riding the bike in the Yarrunga area around 5pm Thursday, and a search of the man's Rangeview Avenue address later that evening discovered the stolen bike hidden under the home.

Rock and Road Cycles owner Rob Sullivan said the recovered bike had sustained significant damage.

He said it was extremely disappointing to see such a brazen burglary, which a member of the public had witnessed and alerted police.

"We've had stuff taken before...a few Christmases ago we were broken into at the rear of the premises, but this is the first time we've had a smash a grab," Mr Sullivan said.

"In the past 12 to 18 months we've seen a rise in thefts...shoplifting incidents...and we're having to ban people from the premises."

Anyone with information that can assist police with their ongoing investigation into the theft and burglary is asked to call Wangaratta CIU on (03) 5723 0888 or Crime Stoppers 1800 333 000.