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    Turnkey Full-Service Restaurant Title is generated by Realmo AI

    1643 Old US Highway 24, Huntington, IN 46750

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    For Sale
    $729,969

    Restaurant, Restaurant/Bar - Huntington, IN

    Lot size:
    1.07 Acres
    Added:
    Jul 7, 2025
    Days on Market:
    334
    Last Refresh:
    Jun 5 at 6:06 am

    Property Features for 1643 Old US Highway 24

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Kitchen
    Parking
    50
    Parking features
    Off Street
    Interior features
    Drywall, Three Phase, Public Restrooms, Refrigeration/Freezer
    Exterior features
    Three Phase, Public Restrooms, Refrigeration/Freezer
    Standard status
    Active
    APN
    35-05-11-300-223.400-005
    Lot size
    1.07 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4947

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1978
    Floors in Building
    1
    Flooring type
    Carpet, Tile, Vinyl
    Roof type
    Asphalt, Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Joel Buzzard
    Joel Buzzard

    Listing agent Joel Buzzard License #RB14028464

    Listing office Hoosier Real Estate Group 16 E Market Street, Huntington, IN

    Listing date Jul 7, 2025

    MLS# 202526193 Listing URL

    Copyright © 2026 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey restaurant with established brand, menu, recipes, and vendor relationships
    • High‑traffic location with excellent visibility and ample parking
    • Fully‑equipped kitchen with walk‑ins and updated mechanicals
    • Spacious dining area with tables and booths
    • 3 Way Liquor License
    • Loyal customer base and great income

    Overview

    This full-service restaurant offers a turnkey operating setup for a new owner. The property includes a spacious dining area with tables and cozy booths, along with an “unbelievable” fully equipped kitchen. Walk-in facilities are included, and the business is described as having updated mechanicals. The offering also references existing operational components such as the existing menu and recipes, plus vendor relationships and a long-standing, loyal customer base.

    The restaurant is located at 1643 Old US Highway 24 in Huntington, Indiana, positioned on a high-traffic road with excellent visibility. The property is described as having ample parking, supporting easy customer access for both local patrons and out-of-town diners.

    For an operator seeking a restaurant that is ready to run without starting from scratch, this is a practical fit. The space supports comfortable dine-in service with substantial seating in a dedicated dining room, and the kitchen configuration with walk-ins supports day-to-day food preparation. The listing also states a 3 Way Liquor License is included, which may be a key consideration for restaurants planning to offer bar service as part of the concept.
    Property Profile Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Huntington
    County
    Huntington
    State
    Indiana
    Longitude
    -85.487206
    Latitude
    40.892674

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    FAQs

    What type of property is this?
    Conventional restaurant - Full-service restaurant built for immediate operations, featuring a fully equipped kitchen, walk-ins, and on-site liquor licensing.
    Where is this conventional restaurant located?
    The property is located at 1643 Old US Highway 24 Huntington, IN.
    What is the asking price?
    The asking price for this property is $729,969.
    What are key features of this property?
    This property features: Turnkey restaurant with established brand, menu, recipes, and vendor relationships; High‑traffic location with excellent visibility and ample parking; Fully‑equipped kitchen with walk‑ins and updated mechanicals
    (260) 224-0297
    We can help!
    Listing Contact
    Joel Buzzard
    Joel Buzzard
    Real Estate License ID: RB14028464
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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