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    118 N Peters St Garrett, IN 46738

    For Sale
    $649,999

    Restaurant/Bar - Garrett, IN

    Lot size:
    0.07 Acres
    Days on Market:
    100
    Last Refresh:
    Dec 5 at 10:06 pm

    Property Features for 118 N Peters St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2
    Bathrooms
    2
    APN
    17-09-04-228-015.000-013
    Parking features
    Off Street
    Interior features
    Drywall, Living Space, Alley, Ventilating/Exhaust Fans
    Exterior features
    Living Space, Alley, Ventilating/Exhaust Fans
    Lot size
    0.07 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1920
    Floors in Building
    2
    Flooring type
    Tile, Vinyl, Wood
    Building materials
    Brick
    Roof type
    Metal
    Architectural style
    Other

    North Eastern Group Realty, Inc (260) 437-9844 [email protected]

    Listing agent Alyssa Schendel (260) 489-7095 License #RB18002221

    Listing date Aug 28, 2025

    MLS# 202520617 Listing URL

    Copyright © 2025 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Turnkey Bar and Apartments in Garrett

    This is an opportunity to own a well-established and profitable bar in a historic building. The sale includes all inventory (liquor and beer), a new walk-in cooler, an antique keg cooler, a sound and projection system, tables, chairs, TVs, speakers, signage with LED lighting, and a security system. The property includes a transferable 6-way grandfathered liquor license suitable for catering and gaming events. The well-maintained historic building has had improvements and comes with 6 additional lots, one newly paved for parking, offering possibilities for expansion or development. In addition to the bar, the building features two income-producing 2-bedroom residential apartments that generate $1,450 per month. The property is located in Garrett, Indiana, in Dekalb County, with a lot size of 0.07 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Martin's Tavern, Circle K, Traxside Bar & Grill, Garrett Bowl, shortys

    Location Insight

    • Map
    • Local Demand
    City
    Garrett
    County
    DeKalb
    State
    Indiana
    Longitude
    -85.138375
    Latitude
    41.351125

    FAQs

    What type of property is this?
    Bar - Thriving bar with apartments and a transferable liquor license.
    Where is this bar located?
    The property is located at 118 N Peters St Garrett, IN.
    What is the asking price?
    The asking price for this property is $649,999.
    What are key features of this property?
    This property features: - Turnkey, Profitable Bar Business with All Inventory Included; - Rare, Moveable 6-Way Grandfathered Liquor License; - Historic Building with Two Income-Producing 2-Bedroom Apartments
    (260) 489-7095
    Request Owner's contact information
    118 N Peters St Garrett, IN 46738
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    Garrett, IN 46738
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    118 N Peters St Garrett, IN 46738
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