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    Turnkey Gas Station & Deli Title is generated by Realmo AI

    8995 S US Highway 35, Monterey, IN 46960

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    Claim this Listing
    New
    For Sale
    $1,100,000

    Retail - Monterey, IN

    Type:Retail
    Lot size:
    0.70 Acres
    Added:
    May 8, 2026
    Days on Market:
    6
    Last Refresh:
    May 13 at 9:06 am

    Property Features for 8995 S US Highway 35

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3
    Interior features
    Drywall, Handicap Access, Living Space, Office Space, Public Restrooms, Other, Refrigeration/Freezer
    Exterior features
    Handicap Access, Living Space, Office Space, Public Restrooms, Other, Refrigeration/Freezer
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    75-10-35-400-036.100-002
    Lot size
    0.70 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2131

    Utilities

    Heating system
    Natural Gas, Space Heater, Wall Furnace
    Cooling system
    Central Air, Multi Units

    Building Details

    Year built
    1941
    Floors in Building
    1
    Flooring type
    Concrete, Laminate, Other
    Building materials
    Block
    Roof type
    Metal, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Kyle Pugh

    Listing agent Kyle Pugh License #RB25001630

    Listing office Century 21 Scheetz - Carmel 270 E Carmel Drive, Carmel, IN

    Listing date May 8, 2026

    MLS# 202617625 Listing URL

    Copyright © 2026 Indiana Uplands Realtor® Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey gas station and popular Polish deli with established business and loyal customers.
    • Prime location on US 35 near major camping site and paintball course, ensuring high traffic year‑round.
    • Multiple revenue streams: gas pumps (including kerosene and diesel), fully stocked deli/convenience store, and licenses for alcohol, tobacco, and lottery.
    • Complete kitchen setup ready for fresh Polish specialties, with all inventory included.
    • Additional income potential from a small home in the back, suitable for owner‑occupant or rental.
    • High‑visibility location with strong daily traffic and excellent growth potential from nearby recreational activities.

    Overview

    This turnkey gas station and authentic Polish deli is located on US 35 in Monterey, Indiana, between Winamac and Bass Lake. The high-traffic location is near a major camping site and a popular paintball course, serving local residents, campers, paintball enthusiasts, and daily travelers year-round. The property includes 3 gas pumps, 1 kerosene pump, and diesel. The fully stocked deli and convenience store includes all inventory. A complete kitchen setup and accessories are ready for fresh Polish specialties. Licenses are in place for alcohol, tobacco, and lottery. Additional income is generated from a small home in the back, suitable for owner-occupancy or rental income. The business benefits from a high-visibility spot with strong daily traffic, loyal customers, multiple revenue streams, and growth potential from nearby recreational traffic. The property is situated on 0.7 acres in Starke County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Gas stations

    Suggested Use

    Real Estate Agency Grocery & Convenience Store (Bike/Boat/Book/etc) Store Pet Grooming Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Monterey
    County
    Pulaski
    State
    Indiana
    Longitude
    -86.602162
    Latitude
    41.173505

    FAQs

    What type of property is this?
    Gas station - Gas station and deli with multiple revenue streams and growth potential.
    Where is this gas station located?
    The property is located at 8995 S US Highway 35 Monterey, IN.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: Turnkey gas station and popular Polish deli with established business and loyal customers.; Prime location on US 35 near major camping site and paintball course, ensuring high traffic year‑round.; Multiple revenue streams: **gas pumps (including kerosene and diesel), fully stocked deli/convenience store, and licenses for alcohol, tobacco, and lottery.**
    (463) 224-2992
    We can help!
    Listing Contact
    Kyle Pugh
    Real Estate License ID: RB25001630
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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