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    2834 State Road 66 Marengo, IN 47140

    Sponsored
    For Sale
    $300,000

    Restaurant, Axe Throwing, & More!

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional Marengo, IN property offers a unique blend of business ventures on 1.14 acres. Currently operating as a family-owned restaurant and a 5-lane indoor axe throwing venue housed in a newly renovated 30 x 40 pole barn, this established business includes catering services for a major local warehouse. The property's history includes operation as a convenience store and fuel center, with USTs in compliance and new anodes installed in 2017, presenting the possibility of resuming these operations. An outdoor seating area connects the restaurant and axe throwing venue, allowing alcohol service throughout. The sale includes all real estate, plus $90,000 worth of equipment and inventory, for a total price of $300,000. The property's prime location, just 5 minutes from I-64 and within 10 minutes of popular attractions like Marengo Cave, Cave Country Canoes, and Sycamore Springs, ensures high visibility and accessibility. The property has been surveyed into three separate tracts, allowing for flexible purchase options. Further expansion opportunities exist with an additional commercial/residential building and approximately 1 acre of land across the street (separate sale at $135,000, survey pending), currently leased until September 2024. The possibilities are vast, including continued operation of the existing businesses, restarting the convenience store, or developing residential or rental spaces.

    Property Features for 2834 State Road 66

    General Information

    Property type
    Investment properties
    Lot Size
    49,658 SF

    Building Details

    Year Built
    1980
    Property Profile Location Intelligence

    Current Use by Public Records

    Investment properties

    Suggested Use

    Restaurant Storage Facility Bar & Pub Discount Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Marengo
    County
    Crawford
    State
    Indiana
    Longitude
    -86.35073
    Latitude
    38.29493

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    FAQs

    What type of property is this?
    Investment property - Restaurant, Axe Throwing, & More!
    Where is this investment property located?
    The property is located at 2834 State Road 66 Marengo, IN.
    What is the asking price?
    The asking price for this property is $300,000.
    (812) 944-7024
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    2834 State Road 66 Marengo, IN 47140
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    Marengo, IN 47140
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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
    2834 State Road 66 Marengo, IN 47140
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