Turn-Key Restaurant with Liquor
2023 Southeastern Avenue Indianapolis, IN 46201
For Sale
$520,000
SINGLE_FAMILY - Indianapolis, IN
Property Size2,500 SF
Lot Size0.26 Acres
Price / SF$208
Days on Market786
Property Features for 2023 Southeastern Avenue
General Information
Property type
Residential
Property subtype
Retail
Zoning
C1
Standard status
Active
APN
491007205204000101
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
State Square Add L176
Utilities
Utilities
Cable Available
Cooling system
Separate Meters
Building Details
Year built
1920
Floors in Building
1
Listing Agency:
Keller Williams Indy Metro S
(317) 882-5900
Listed By:
Shelly Johnson · License #RB14043056
(317) 882-5900
Added: Jun 5, 2024
Changed: Jun 16
Last Checked: Jul 30 at 4:06AM
MLS# 21983422
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.
This turn-key restaurant was completely renovated in 2023 and is presented with core operating assets. The offering includes the hood, fryers, walk-in cooler, prep station, grill, tables and chairs, along with a 3-way liquor license. A pylon sign is also available.
The property is located in downtown Indianapolis at 2023 Southeastern Avenue, listed under C1 zoning. The seller notes the site is less than 1 mile from the new Justice center. Parking on site is listed as 15+ spaces, with additional street parking nearby.
For operators or buyers looking for a ready-to-run foodservice concept, the combination of renovated interior and the included kitchen equipment supports immediate use. The presence of the liquor license can also streamline licensure for a properly structured hospitality business, while on-site parking helps accommodate customers visiting the restaurant.
The property is located in downtown Indianapolis at 2023 Southeastern Avenue, listed under C1 zoning. The seller notes the site is less than 1 mile from the new Justice center. Parking on site is listed as 15+ spaces, with additional street parking nearby.
For operators or buyers looking for a ready-to-run foodservice concept, the combination of renovated interior and the included kitchen equipment supports immediate use. The presence of the liquor license can also streamline licensure for a properly structured hospitality business, while on-site parking helps accommodate customers visiting the restaurant.
Key Highlights
- Completely renovated in 2023 2,500 SF turn‑key restaurant building
- Includes restaurant kitchen equipment: hood, fryers, prep station, grill, and walk‑in cooler
- Business items included: tables and chairs, plus a 3‑way liquor license
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 | $45.0k | $18.00 |
| − Vacancy | −$3.4k | −$1.35 |
| EGI | $41.6k | $16.65 |
| − OpEx | −$10.4k | −$4.16 |
| NOI | $31.2k | $12.49 |
2,500 SF · lease $18.00/SF/yr · vacancy 7.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$446.0K
$390.2K – $520.3K
NOI $31,219 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$622.3K
$544.5K – $726.0K
NOI $43,560 @ 7.0% cap · market cap 8.38%
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 - Completely renovated 2023 restaurant includes core kitchen equipment and a 3-way liquor license plus on-site parking.
Where is this conventional restaurant located?
The property is located at 2023 Southeastern Avenue Indianapolis, IN.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Completely renovated in 2023 2,500 SF turn‑key restaurant building; Includes restaurant kitchen equipment: hood, fryers, prep station, grill, and walk‑in cooler; Business items included: tables and chairs, plus a 3‑way liquor license
