Mixed-Use Restaurant with
For Sale
$525,000
201 W Main Street, Syracuse, IN 46567
The property combines a full-service restaurant with a renovated one-bedroom apartment above.
Property Size2,400 SF
Price / SF$218.75
Days on Market256
Property Features for 201 W Main Street
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial
Zoning
COMME
Additional Details
Furnished
Yes
Business Included
Yes
Road Access
Yes
Equipment Included
Yes
Multifamily Units
1
Currently Operating
Yes
Building Details
Building Size
2,400 SF
Listing Agency:
RE/MAX Advanced Realty
(317) 298-0961
Listed By:
Michael Nauman · License #RB22002327
(765) 517-0506
Source:
Johnsonrealtysource
Added: Feb 21
Changed: Nov 3
Last Checked: Nov 3 at 7:56AM
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 Advanced Realty
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Investment Insights
Based on property information with market context.
This Syracuse mixed-use property pairs a full-service restaurant with a renovated apartment on the upper floor. The restaurant has an open kitchen, a bar, and an unfinished basement suited to storage. The one-bedroom, one-bath apartment features an open layout and washer and dryer.
A public parking lot sits behind the building, and the sale includes the restaurant’s furniture, fixtures, equipment, and digital assets. The property is at 201 W Main Street in downtown Syracuse, with an upcoming 230-lot RV resort noted in the surrounding area.
A public parking lot sits behind the building, and the sale includes the restaurant’s furniture, fixtures, equipment, and digital assets. The property is at 201 W Main Street in downtown Syracuse, with an upcoming 230-lot RV resort noted in the surrounding area.
Key Highlights
- Full‑service restaurant with a one‑bedroom, one‑bath apartment above
- Restaurant features an open kitchen and full‑service bar
- Unfinished basement provides storage space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,866
Cap Rate
4.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$517,320
$517.3K
Cap Rate 7%
$369,514
$369.5K
Cap Rate 9%
$287,400
$287.4K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$36.0K $15.00/SF
− Vacancy
−$1.5K −$0.63/SF
EGI
$34.5K $14.37/SF
− OpEx
−$8.6K −$3.59/SF
NOI
$25.9K $10.78/SF
Area
Kosciusko County, IN
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$517,320
Cap Rate 7%
$369,514
Cap Rate 9%
$287,400
Alternative Uses
Best Use
Specialty Retail
$369.5K
$323.3K – $431.1K
NOI $25,866 @ 7.0% cap · market cap 4.93%
Second Best
Mixed Use
$215.2K
$188.3K – $251.1K
NOI $15,066 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$418.1K
$365.9K – $487.8K
NOI $29,268 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
2,976 visits/mo
0.3 miles
Demographics for 46567, IN
9,773
Population
5,849
Households
1.7
Avg Household Size
44
Median Age
25%
College-Educated
90%
High-School Grad
57.3 sq mi
ZIP Area
171
Density / Sq Mi
$73,277
Median Household Income
$46,327
Median Earnings
$964
Median Rent
$228,200
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines a full-service restaurant with a renovated one-bedroom apartment above.
Where is this mixed-use property located?
The property is located at 201 W Main Street Syracuse, IN.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Full‑service restaurant with a one‑bedroom, one‑bath apartment above; Restaurant features an open kitchen and full‑service bar; Unfinished basement provides storage space
