Turnkey Brewery and Restaurant
For Sale
Contact for pricing
1409-1411 119th St, Whiting, IN
Two-story building with brewery, restaurant, and redevelopment potential.
Property Size5,920 SF
Lot Size0.14 Acres
Price / SF$92.91
Days on Market382
Property Features for 1409-1411 119th St
General Information
Standard status
Active
Size
5,920 SF
Lot size
0.14 Acres
Property subtype
RETAIL
Listing Agency:
Latitude Commercial
(219) 545-4328
Listed By:
Brett McDermott · License ##RB14050416
(219) 545-4328
Source:
Moodyscre
Added: Aug 6, 2025
Changed: Aug 17
Last Checked: Aug 21 at 12:00PM
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 Latitude Commercial
Investment Insights
Based on property information with market context.
This is a 5,920 square-foot, two-story building located in downtown Whiting, Indiana. The first floor features a turnkey brewery with a full restaurant and brewing equipment, as well as an outdoor patio. The second floor is in vanilla shell condition, making it suitable for private dining, office space, or multifamily conversion. The property benefits from a location with strong foot traffic and redevelopment potential.
Key Highlights
- Turnkey brewery with full restaurant and brewing equipment on the first floor.
- 5,920 SF two‑story building in the heart of downtown Whiting, IN.
- Second floor in vanilla shell condition, ideal for private dining, office, or multifamily conversion.
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
$34,345
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
6.24%
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%
$686,900
$686.9K
Cap Rate 7%
$490,643
$490.6K
Cap Rate 9%
$381,611
$381.6K
Market Conditions
NOI Build-Up for 5,920 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
$51.9K $8.76/SF
− Vacancy
−$2.8K −$0.47/SF
EGI
$49.1K $8.29/SF
− OpEx
−$14.7K −$2.49/SF
NOI
$34.3K $5.80/SF
Area
Lake County, IN
Vacancy
5.39%
Lease Rate
$8.76 /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%
$686,900
Cap Rate 7%
$490,643
Cap Rate 9%
$381,611
Alternative Uses
Best Use
Specialty Retail
$1.65M
$1.45M – $1.93M
NOI $115,684 @ 7.0% cap · market cap 21.03%
Second Best
Retail
$815.0K
$713.1K – $950.8K
NOI $57,048 @ 7.0% cap · market cap 10.37%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial 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?
Brewery - Two-story building with brewery, restaurant, and redevelopment potential.
Where is this brewery located?
The property is located at 1409-1411 119th St Whiting, IN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Turnkey brewery with full restaurant and brewing equipment on the first floor.; 5,920 SF two‑story building in the heart of downtown Whiting, IN.; Second floor in vanilla shell condition, ideal for private dining, office, or multifamily conversion.
