Mixed-Use Restaurant with
For Sale
$525,000
201 W Main Street, Syracuse, IN 46567
Commercial Sale, Syracuse, IN
Property Size1,400 SF
Lot Size0.06 Acres
Price / SF$375
Days on Market249
Property Features for 201 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
COMME
Elementary school district
Wawasee Community School Corp
Middle school district
Wawasee Community School Corp
High school district
Wawasee Community School Corp
Directions
GPS Friendly
Subdivision
4304 - Kosciusko - Turkey Creek
Standard status
Active
APN
430406200294000026
Lot size
0.06 Acres
Tenancy & Operations
Currently Operating
Yes
Business Included
Yes
Taxes and HOA fees
Tax Year
2024
Tax Description
8-24-125 Lot 1 & 3' E Side Lot 2 Waybrights Add
Tax Annual Amount
4190
Legal 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
Amenities
washer/dryer
Listing Agency:
RE/MAX Advanced Realty · RE/MAX International
Listed By:
Michael Nauman
(317) 298-0961
Added: Feb 21
Changed: Oct 28
Last Checked: Oct 28 at 5:06PM
MLS# 22085329
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This mixed-use property combines a 1,400-square-foot restaurant with a renovated 1,000-square-foot apartment above. The restaurant has an open-concept kitchen and full-service bar; its unfinished 1,400-square-foot basement provides additional storage space. Furniture, fixtures, equipment, and digital assets are included in the sale. The apartment has one bedroom, one bathroom, an open layout, and a washer and dryer. Forced-air heating and central air conditioning are listed for the property.
The building is at 201 W Main Street in Syracuse. A public parking lot is located behind the restaurant. The property is zoned COMME.
The building is at 201 W Main Street in Syracuse. A public parking lot is located behind the restaurant. The property is zoned COMME.
Key Highlights
- 1,400‑square‑foot restaurant with open‑concept kitchen and full‑service bar
- Renovated 1,000‑square‑foot apartment with one bedroom and one bathroom
- Unfinished 1,400‑square‑foot basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,089
Cap Rate
2.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,780
$301.8K
Cap Rate 7%
$215,557
$215.6K
Cap Rate 9%
$167,656
$167.7K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$21.0K $15.00/SF
− Vacancy
−$882 −$0.63/SF
EGI
$20.1K $14.37/SF
− OpEx
−$5.0K −$3.59/SF
NOI
$15.1K $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%
$301,780
Cap Rate 7%
$215,557
Cap Rate 9%
$167,656
Alternative Uses
Best Use
Specialty Retail
$215.6K
$188.6K – $251.5K
NOI $15,089 @ 7.0% cap · market cap 2.87%
Second Best
Mixed Use
$125.6K
$109.9K – $146.5K
NOI $8,789 @ 7.0% cap · market cap 1.67%
Theoretical Best
Office A
$243.9K
$213.4K – $284.6K
NOI $17,073 @ 7.0% cap · market cap 3.25%
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 - Restaurant space includes an open-concept kitchen and full-service bar, with a renovated residence on the upper floor.
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: 1,400‑square‑foot restaurant with open‑concept kitchen and full‑service bar; Renovated 1,000‑square‑foot apartment with one bedroom and one bathroom; Unfinished 1,400‑square‑foot basement
