Restaurant with Fully Equipped
New
For Sale
$370,000
218 E Vistula St, Bristol, IN 46507
Downtown Bristol property combines dine-in space, restaurant infrastructure, and an operating business under one ownership opportunity.
Property Size1,276 SF
Price / SF$289.97
Days on Market6
Property Features for 218 E Vistula St
General Information
Standard status
Active
Size
1,276 SF
Additional Details
Business Included
Yes
Equipment Included
Yes
Building Details
Year Built
1910
Listing Agency:
RE/MAX Results
(574) 584-4009
Listed By:
Nicolas Wyse · License #RB14045263
Source:
Spencerchildersgroup
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 30 at 8:31PM
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 Results
Investment Insights
Based on property information with market context.
This downtown Bristol restaurant offering includes the building, business operations, equipment, and goodwill. The premises feature a fully equipped kitchen and dedicated dine-in space, providing the core physical components of an established food-service operation. The property was built in 1910 and includes infrastructure associated with its existing restaurant use.
Chicago's Pizza is included with the real estate and business components, creating a combined acquisition rather than a standalone building purchase. The offering is situated in downtown Bristol at 218 E Vistula St and includes the restaurant equipment and operating business for transfer to new ownership.
Chicago's Pizza is included with the real estate and business components, creating a combined acquisition rather than a standalone building purchase. The offering is situated in downtown Bristol at 218 E Vistula St and includes the restaurant equipment and operating business for transfer to new ownership.
Key Highlights
- Building, restaurant business, equipment, and goodwill included
- Fully equipped kitchen with dedicated dine‑in space
- Chicago's Pizza business included with the real estate
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,537
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$330,740
$330.7K
Cap Rate 7%
$236,243
$236.2K
Cap Rate 9%
$183,744
$183.7K
Market Conditions
NOI Build-Up for 1,276 SF
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.
Gross rent
$23.0K $18.00/SF
− Vacancy
−$919 −$0.72/SF
EGI
$22.0K $17.28/SF
− OpEx
−$5.5K −$4.32/SF
NOI
$16.5K $12.96/SF
Area
Elkhart County, IN
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$330,740
Cap Rate 7%
$236,243
Cap Rate 9%
$183,744
Alternative Uses
Best Use
Specialty Retail
$236.2K
$206.7K – $275.6K
NOI $16,537 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
183
Businesses Nearby
26k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 93%
Dining 7%
Dollar General
Shops & Services
8,253 visits/mo
0.4 miles
Marathon
Shops & Services
6,328 visits/mo
0.3 miles
Phillips 66
Shops & Services
5,036 visits/mo
0.1 miles
REBEL Convenience Store
Shops & Services
2,837 visits/mo
0.3 miles
KeyBank
Shops & Services
2,036 visits/mo
0.2 miles
Demographics for 46507, IN
9,371
Population
3,966
Households
2.4
Avg Household Size
41
Median Age
20%
College-Educated
90%
High-School Grad
40.4 sq mi
ZIP Area
232
Density / Sq Mi
$88,510
Median Household Income
$40,929
Median Earnings
$1,065
Median Rent
$231,300
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 - Downtown Bristol property combines dine-in space, restaurant infrastructure, and an operating business under one ownership opportunity.
Where is this conventional restaurant located?
The property is located at 218 E Vistula St Bristol, IN.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Building, restaurant business, equipment, and goodwill included; Fully equipped kitchen with dedicated dine‑in space; Chicago's Pizza business included with the real estate
