The place where it was found may well be close to its original location, given that the aforementioned street runs next to what would have been the Forum and there’s a known Roman street nearby. Central and close to crowded streets, it would have been an excellent site to display a statue of a god and the accompanying inscription.
In 1935, during construction works at the Rua das Canastras (street of the [fish] baskets), an inscription to Apollo was found about four metres underground. Currently on display at the National Archaeology Museum, it reads: APOLLINI SACRVM MIVLM LIB TYRANNVS AVGVSTA D. D., which has been translated as “sacred to Apollo. Marcus Julius Tiranus, freedman of Marcus Julius, augustal, gave as offering” (Vieira da Silva 1944, 214; n. 101). It’s dated from the 1st century and it’s assumed that it had a statue on top.