Established Bar and Restaurant
For Sale
$960,000
1500 N E St, Richmond, IN 47374
Turnkey bar and restaurant with liquor license and outdoor patio.
Property Size5,021 SF
Price / SF$191.20
Days on Market205
Property Features for 1500 N E St
General Information
Standard status
Active
Size
5,021 SF
Building Details
Year Built
1910
Listing Agency:
Tarter Realty Auction and Appraisal Company
Listed By:
Paul Faddis · License #RB15000347
(765) 994-8533
Source:
Kmsrealestategroup
Added: Mar 26
Changed: Oct 5
Last Checked: Oct 7 at 5:22PM
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 Tarter Realty Auction and Appraisal Company
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Investment Insights
Based on property information with market context.
This established bar and restaurant offers a spacious indoor dining area and an outdoor patio. Volleyball courts are present. The business is equipped for serving pizza, steaks, and classic bar fare. A three-way (210) liquor license is included, allowing for both on-site and carry-out sales. The property size is 5857 square feet.
Key Highlights
- Turnkey bar and restaurant opportunity.
- Includes a three‑way (210) liquor license for on‑site and carry‑out sales.
- Fully equipped for serving pizza, steaks, and classic bar fare.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,489
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$809,780
$809.8K
Cap Rate 7%
$578,414
$578.4K
Cap Rate 9%
$449,878
$449.9K
Market Conditions
NOI Build-Up for 5,021 SF
Gross rent
$60.3K $12.00/SF
− Vacancy
−$6.3K −$1.25/SF
EGI
$54.0K $10.75/SF
− OpEx
−$13.5K −$2.69/SF
NOI
$40.5K $8.06/SF
Area
Wayne County, IN
Vacancy
10.40%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$809,780
Cap Rate 7%
$578,414
Cap Rate 9%
$449,878
Alternative Uses
Best Use
Specialty Retail
$578.4K
$506.1K – $674.8K
NOI $40,489 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$629.4K
$550.7K – $734.3K
NOI $44,059 @ 7.0% cap · market cap 4.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
82k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 76%
Shops & Services 24%
McDonald's
Dining
27,579 visits/mo
0.4 miles
Wendy's
Dining
14,163 visits/mo
0.4 miles
Lee's Famous Recipe Chicken
Dining
8,088 visits/mo
0.4 miles
Dollar General
Shops & Services
7,806 visits/mo
0.5 miles
Marathon Petroleum
Shops & Services
6,416 visits/mo
0.4 miles
Demographics for 47374, IN
45,304
Population
21,553
Households
2.1
Avg Household Size
41
Median Age
22%
College-Educated
88%
High-School Grad
119.8 sq mi
ZIP Area
378
Density / Sq Mi
$52,566
Median Household Income
$34,168
Median Earnings
$816
Median Rent
$121,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- The Down Under — 200 S 9th St, Richmond, IN 47374
- U & I — 233 S 8th St, Richmond, IN 47374
- Smiley's Pub — 39 N 8th St, Richmond, IN 47374
- InCONCERT — 923 N E St, Richmond, IN 47374
- E Street Pub — 815 N E St, Richmond, IN 47374
Frequently Asked Questions
What type of property is this?
Bar & Pub - Turnkey bar and restaurant with liquor license and outdoor patio.
Where is this bar & pub located?
The property is located at 1500 N E St Richmond, IN.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: Turnkey bar and restaurant opportunity.; Includes a three‑way (210) liquor license for on‑site and carry‑out sales.; Fully equipped for serving pizza, steaks, and classic bar fare.
