Historic Bar and Two-Unit
For Sale
$599,999
118 N Peters Street, Garrett, IN 46738
COMMERCIAL - Garrett, IN
Property SizeContact for details
Lot Size0.07 Acres
Days on Market434
Property Features for 118 N Peters Street
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking features
Off Street
Directions
North on County Road 327, turn left on W. Quincy Street, Turn left onto N. Petes St.
Subdivision
Dekalb County
Standard status
Active
APN
17-09-04-228-015.000-013
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
OP LOT 22 BLOCK 16, OP LOT 21, OP LOT 20, OP LOT 19, OP LOT 3, OP LOT 4
Tax Annual Amount
1577
Legal Description
OP LOT 22 BLOCK 16, OP LOT 21, OP LOT 20, OP LOT 19, OP LOT 3, OP LOT 4
Utilities
Cooling system
Central Air
Building Details
Year built
1920
Flooring type
Tile, Wood
Roof type
Metal
Listing Agency:
North Eastern Group Realty
(260) 489-7095
Listed By:
Alyssa Schendel · License #RB18002221
(260) 515-6059
Added: Jun 2, 2025
Changed: Aug 4
Last Checked: Aug 9 at 1:06PM
MLS# 202520617
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
This offering combines a historic bar operation with two income-producing residential apartments. The sale includes a moveable 6-way grandfathered liquor license, along with all inventory (liquor and beer), a brand-new walk-in cooler, and an antique keg cooler. The premises are equipped with a sound and projection system, tables, chairs, TVs, speakers, signage with bright LED lighting, and a security system.
The property is located in Garrett, Indiana and includes the historic building plus six additional lots. The remarks note one newly paved lot for additional parking, which supports on-site overflow and potential for future on-site development.
For buyers or operators seeking a combined hospitality and residential setup, the two 2-bedroom apartments provide a separate source of rental income, stated as $1,450 per month in the listing. The inclusion of bar equipment and on-premises operating components may help streamline transition for an owner-operator or an investor looking for an asset that already has a functioning bar concept and residential units within the same ownership. Transaction is for sale.
The property is located in Garrett, Indiana and includes the historic building plus six additional lots. The remarks note one newly paved lot for additional parking, which supports on-site overflow and potential for future on-site development.
For buyers or operators seeking a combined hospitality and residential setup, the two 2-bedroom apartments provide a separate source of rental income, stated as $1,450 per month in the listing. The inclusion of bar equipment and on-premises operating components may help streamline transition for an owner-operator or an investor looking for an asset that already has a functioning bar concept and residential units within the same ownership. Transaction is for sale.
Key Highlights
- 1920‑built historic building with metal roof, wood and tile flooring, and central air (cooling) throughout
- Fully equipped bar sale includes all liquor and beer inventory, plus a moveable 6‑way grandfathered liquor license
- Bar improvements included: brand‑new walk‑in cooler, antique keg cooler, sound and projection system, tables/chairs/TVs, speakers, and LED‑lit signage
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46738, IN
8,183
Population
3,756
Households
2.2
Avg Household Size
37
Median Age
17%
College-Educated
90%
High-School Grad
26.0 sq mi
ZIP Area
315
Density / Sq Mi
$62,212
Median Household Income
$37,137
Median Earnings
$855
Median Rent
$156,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Martin's Tavern — 115 N Randolph St, Garrett, IN 46738
- Circle K — 201 S Randolph St, Garrett, IN 46738
- Traxside Bar & Grill — 118 N Peters St, Garrett, IN 46738
- Garrett Bowl — 110 W Keyser St, Garrett, IN 46738
- shortys — 127 s randolph st, garrett, in 46738
Frequently Asked Questions
What type of property is this?
Bar & Pub - Turnkey bar ownership with a new walk-in cooler, sound system, and two 2-bedroom residential apartments on additional lots.
Where is this bar & pub located?
The property is located at 118 N Peters Street Garrett, IN.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: 1920‑built historic building with metal roof, wood and tile flooring, and central air (cooling) throughout; Fully equipped bar sale includes all liquor and beer inventory, plus a moveable 6‑way grandfathered liquor license; Bar improvements included: brand‑new walk‑in cooler, antique keg cooler, sound and projection system, tables/chairs/TVs, speakers, and LED‑lit signage
