Turnkey Fine Dining
201 W Main Street Syracuse, IN 46567
For Sale
$550,000
SINGLE_FAMILY - Syracuse, IN
Property Size3,800 SF
Lot Size0.06 Acres
Price / SF$144.74
Days on Market158
Property Features for 201 W Main Street
General Information
Property type
Residential
Property subtype
Retail
Zoning
COMME
Standard status
Active
APN
430406200294000026
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
8-24-125 Lot 1 & 3' E Side Lot 2 Waybrights Add
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Listing Agency:
RE/MAX Advanced Realty
(317) 298-0961
Listed By:
Michael Nauman · License #RB22002327
(317) 298-0961
Added: Feb 21
Changed: Jun 16
Last Checked: Jul 29 at 8:06PM
MLS# 22085329
Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
West Main Kitchen is a turnkey fine dining restaurant offering an open-concept kitchen and a full-service bar. The restaurant is approximately 1,400 SF and includes an unfinished basement of approximately 1,400 SF, which may be used for storage or a future proof-kitchen buildout.
The property is located at 201 W Main Street in Syracuse, IN, within the COMME zoning designation. The listing notes a brand new public parking lot behind the restaurant and potential to add a back deck patio.
In addition to the restaurant, the sale includes a fully renovated 1 bed/1 bath apartment above the restaurant, described as an incoming producing unit available to live in or rent out. The apartment is approximately 1,000 SF and features an open concept, a washer/dryer, and plenty of natural light. All FFE and digital assets are included with the sale. This offering is supported by long-standing operations and the inclusion of restaurant operating components, along with the apartment as an additional income stream option.
The property is located at 201 W Main Street in Syracuse, IN, within the COMME zoning designation. The listing notes a brand new public parking lot behind the restaurant and potential to add a back deck patio.
In addition to the restaurant, the sale includes a fully renovated 1 bed/1 bath apartment above the restaurant, described as an incoming producing unit available to live in or rent out. The apartment is approximately 1,000 SF and features an open concept, a washer/dryer, and plenty of natural light. All FFE and digital assets are included with the sale. This offering is supported by long-standing operations and the inclusion of restaurant operating components, along with the apartment as an additional income stream option.
Key Highlights
- Established, turnkey fine dining restaurant with a proven business model and loyal customer base.
- Prime location in a growing area, poised to benefit from a new luxury RV resort and increased affluent clientele.
- Includes all Furniture, Fixtures, and Equipment (FFE) and digital assets.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.0k | $15.00 |
| − Vacancy | −$2.4k | −$0.63 |
| EGI | $54.6k | $14.37 |
| − OpEx | −$13.7k | −$3.59 |
| NOI | $41.0k | $10.78 |
3,800 SF · lease $15.00/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$585.1K
$511.9K – $682.6K
NOI $40,955 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$662.0K
$579.3K – $772.4K
NOI $46,341 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey fine dining restaurant with full-service bar, open kitchen, and an upstairs 1-bed apartment.
Where is this conventional restaurant located?
The property is located at 201 W Main Street Syracuse, 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: Established, turnkey fine dining restaurant with a proven business model and loyal customer base.; Prime location in a growing area, poised to benefit from a new luxury RV resort and increased affluent clientele.; Includes all Furniture, Fixtures, and Equipment (FFE) and digital assets.
