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    State Road 64 Marengo, IN 47170

    Sponsored
    For Sale
    $200,000

    Established Restaurant, Huge Potential, 1.98 Acres

    Property size:
    1,440 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional 1,440 square foot property located at 0 E State Road 64, Marengo, Indiana, presents a unique investment opportunity. Currently zoned for commercial use, this established restaurant, formerly known as Green Acres 'The Place To Be,' boasts a rich history as a local favorite. The building includes some remaining restaurant equipment in good working order, such as a food prep table, a functional hood system, a freezer, and tables and chairs, providing a head start for a new culinary venture. The ample parking area easily accommodates cars and semi-trucks, a significant advantage for any food service business. However, the property's versatility extends beyond restaurant use. With its generous 1.98-acre lot, it offers significant potential for conversion into a spacious residence, allowing for the construction of a large barn or workshop. The property's prime location, just minutes from the popular Marengo Cave, ensures high visibility and convenient access for both residents and tourists. This is a rare chance to acquire a well-situated property with a proven track record and the flexibility to adapt to various uses. The property is listed under both commercial and residential MLS numbers. Don't miss this chance to own a piece of Marengo's history and shape its future.

    Property Features for State Road 64

    General Information

    Property type
    Other commercial real estate
    Square Feet
    1,440 SF
    Lot Size
    86,249 SF
    Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Marengo
    County
    Crawford
    State
    Indiana
    Longitude
    -86.34402
    Latitude
    38.37423

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    FAQs

    What type of property is this?
    Commercial real estate - Established Restaurant, Huge Potential, 1.98 Acres
    Where is this commercial real estate located?
    The property is located at State Road 64 Marengo, IN.
    What is the asking price?
    The asking price for this property is $200,000.
    (812) 738-4232
    Request Owner's contact information
    State Road 64 Marengo, IN 47170
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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
    State Road 64 Marengo, IN 47170
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