Renovated Mixed-Use Bar
New
For Sale
$360,000
117 S Branson St, Marion, IN 46952
Includes a licensed bar, three upper apartments, and a fenced outdoor patio.
Property Size4,670 SF
Price / SF$77.09
Days on Market1
Property Features for 117 S Branson St
General Information
Standard status
Active
Size
4,670 SF
Restaurant
Patio
Yes
Equipment Included
Yes
Liquor License
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Amenities
paved parking
separate outside entrance
Building Details
Year Built
1941
Listing Agency:
RE/MAX Realty One
Listed By:
Sally Jenks · License #RB14036978
(765) 454-7300
Source:
Callcriswell
Added: Sep 14
Last Checked: Sep 14 at 2:23PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Realty One
Investment Insights
Based on property information with market context.
This mixed-use property combines a renovated bar operation with three apartments on the upper level. The bar area includes a 3-way liquor license, equipment, furniture, a walk-in cooler, and a privacy-fenced outdoor patio. Upper-level residences are accessed through a separate exterior entrance and include one two-bedroom, two-bath apartment along with two efficiency units.
The property contains 4,670 square feet and was built in 1941. Additional site features include ample paved parking, supporting both the commercial operation and residential component.
The property contains 4,670 square feet and was built in 1941. Additional site features include ample paved parking, supporting both the commercial operation and residential component.
Key Highlights
- 3‑way liquor license included
- Three upper apartments: one 2‑bedroom and two efficiencies
- 4,670 square feet on a 0.11‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,434
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$508,680
$508.7K
Cap Rate 7%
$363,343
$363.3K
Cap Rate 9%
$282,600
$282.6K
Market Conditions
NOI Build-Up for 4,670 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$42.0K $9.00/SF
− Vacancy
−$5.7K −$1.22/SF
EGI
$36.3K $7.78/SF
− OpEx
−$10.9K −$2.33/SF
NOI
$25.4K $5.45/SF
Area
Grant County, IN
Vacancy
13.55%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$508,680
Cap Rate 7%
$363,343
Cap Rate 9%
$282,600
Alternative Uses
Best Use
Specialty Retail
$906.9K
$793.6K – $1.06M
NOI $63,485 @ 7.0% cap · market cap 17.63%
Second Best
Mixed Use
$572.4K
$500.9K – $667.8K
NOI $40,069 @ 7.0% cap · market cap 11.13%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
805
Businesses Nearby
Explore this area
Business Placement
Demographics for 46952, IN
18,996
Population
8,832
Households
2.2
Avg Household Size
46
Median Age
25%
College-Educated
89%
High-School Grad
105.5 sq mi
ZIP Area
180
Density / Sq Mi
$53,481
Median Household Income
$39,246
Median Earnings
$785
Median Rent
$129,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a licensed bar, three upper apartments, and a fenced outdoor patio.
Where is this mixed-use property located?
The property is located at 117 S Branson St Marion, IN.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 3‑way liquor license included; Three upper apartments: one 2‑bedroom and two efficiencies; 4,670 square feet on a 0.11‑acre lot
