Building Details

Year built 1930

Listing Agency: Lohmiller Real Estate a***@lohmillerrealestate.com Show Phone

Listed By: Charles Peters Jr · License #RB14044461 Show Phone

Added: Sep 25, 2025 Changed: Aug 26 Last Checked: Aug 30 at 9:06AM

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MLS# 205992

Copyright © 2026 Southeastern Indiana Board of Realtors. 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 mixed-use property combines a restaurant operation with three apartments in an approximately 1930 building on 0.16 acres. The commercial portion includes two pizza ovens, a walk-in cooler, food-service equipment, and a period bar with matching back bar dating to the early 1900s. The restaurant was previously operated as Classic Pizza.

The upper level contains two two-bedroom apartments and one one-bedroom apartment, providing a residential component alongside the restaurant space. The property is located in downtown Sunman at 119 S Meridian Street in Ripley County, Indiana.

Key Highlights

• Restaurant area includes 2 pizza ovens, a walk‑in cooler, and food‑service equipment
• Three upstairs apartments: (2) two‑bedroom units and (1) one‑bedroom unit
• Original early 1900s bar and back bar remain in the building

Property Analytics

Property Profile

Current Use

Conventional restaurants

Suggested Use

Top Pick Garden Center Big Box & Wholesale Store Grocery & Convenience Store Auto Repair Shop Hair Salon Food Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

108

Businesses Nearby

Explore this area Business Placement

Demographics for 47041, IN

5,891

Population

2,449

Households

2.4

Avg Household Size

42

Median Age

25%

College-Educated

90%

High-School Grad

77.8 sq mi

ZIP Area

76

Density / Sq Mi

$86,778

Median Household Income

$45,872

Median Earnings

$834

Median Rent

$280,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Restaurant improvements and three upper-level apartments combine food-service functionality with residential income space.

Where is this mixed-use property located?

The property is located at 119 S Meridian Street Sunman, IN.

What is the asking price?

The asking price for this property is $349,000.

What are key features of this property?

This property features: Restaurant area includes 2 pizza ovens, a walk‑in cooler, and food‑service equipment; Three upstairs apartments: (2) two‑bedroom units and (1) one‑bedroom unit; Original early 1900s bar and back bar remain in the building