Turnkey Fine Dining
For Sale
$550,000
201 W Main Street, Syracuse, IN 46567
SINGLE_FAMILY - Syracuse, IN
Property Size3,800 SF
Lot Size0.06 Acres
Price / SF$144.74
Days on Market160
Property Features for 201 W Main Street
General Information
Property type
Residential
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
Taxes and HOA fees
Tax Year
2024
Tax Description
8-24-125 Lot 1 & 3' E Side Lot 2 Waybrights Add
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
Listing Agency:
RE/MAX Advanced Realty · RE/MAX International
(317) 298-0961
Listed By:
Michael Nauman · License #RB22002327
(317) 298-0961
Added: Feb 21
Changed: Jun 16
Last Checked: Jul 31 at 4:06AM
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
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
3k
Monthly Visits Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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.
