Turn-Key Bar and
For Sale
$2,100,000
2385 Willowcreek Road, Portage, IN 46368
Turn-key bar and restaurant with an indoor-outdoor patio opening concept, liquor license, and paved parking.
Property Size7,566 SF
Price / SF$277.56
Days on Market146
Property Features for 2385 Willowcreek Road
General Information
Standard status
Active
Size
7,566 SF
Total Parking Spaces
60
Additional Details
Business Included
Yes
Highway Access
Yes
Drive-In Doors
1
Liquor License
Yes
Taxes and HOA fees
Annual Taxes
$8,043
Listing Agency:
McColly Real Estate
(219) 322-5508
Listed By:
Anthony Christopher · License #RB22001074
(708) 715-6193
Source:
Exprealty
Added: Jun 12
Changed: Oct 25
Last Checked: Nov 3 at 8:42AM
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 McColly Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This turn-key bar and restaurant building offers nearly all-in-use operating space designed around a seamless indoor-outdoor experience. A roll-up garage door with windows opens the bar/restaurant to an outdoor patio, supporting flexible service and guest flow. The sale includes the operating business, all fixtures, and a valuable 3-way liquor license. On the back-of-house side, there is a large walk-in cooler to support food and beverage storage. The property is described as being beyond well maintained and ready for its next owner.
The property is located on Willowcreek Road just off the Indiana Toll Road exit, positioned for visibility in a high-traffic area. It is within walking distance to multiple hotels and surrounding businesses, placing it in a built-in customer corridor.
For buyers looking to acquire an operating hospitality concept rather than start from scratch, this offering combines a ready-to-run setup with the key elements that support day-to-day service: established interior and outdoor layout, complete fixture package, liquor license inclusion, on-site cold storage, and convenient paved parking for 60 vehicles. The configuration is well suited for a restaurant/bar operator seeking continuity and immediate operations.
The property is located on Willowcreek Road just off the Indiana Toll Road exit, positioned for visibility in a high-traffic area. It is within walking distance to multiple hotels and surrounding businesses, placing it in a built-in customer corridor.
For buyers looking to acquire an operating hospitality concept rather than start from scratch, this offering combines a ready-to-run setup with the key elements that support day-to-day service: established interior and outdoor layout, complete fixture package, liquor license inclusion, on-site cold storage, and convenient paved parking for 60 vehicles. The configuration is well suited for a restaurant/bar operator seeking continuity and immediate operations.
Key Highlights
- 7,566 SF building built in 1980 with nearly 1,700 SF of rentable space
- Bar/restaurant includes roll‑up garage door windows that open to an outdoor patio
- Sale includes a thriving business, all fixtures, and a valuable 3‑way liquor license
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$147,849
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,956,980
$3.0M
Cap Rate 7%
$2,112,129
$2.1M
Cap Rate 9%
$1,642,767
$1.6M
Market Conditions
NOI Build-Up for 7,566 SF
Gross rent
$204.3K $27.00/SF
− Vacancy
−$7.1K −$0.95/SF
EGI
$197.1K $26.06/SF
− OpEx
−$49.3K −$6.51/SF
NOI
$147.8K $19.54/SF
Area
Porter County, IN
Vacancy
3.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,956,980
Cap Rate 7%
$2,112,129
Cap Rate 9%
$1,642,767
Alternative Uses
Best Use
Specialty Retail
$2.11M
$1.85M – $2.46M
NOI $147,849 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.87M
$2.51M – $3.35M
NOI $200,730 @ 7.0% cap · market cap 9.56%
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
Drive-in doors
Turnkey business
Opportunity
Yes
Highway access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
107k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Groceries 35%
Shops & Services 18%
Hotels & Casinos 2%
Strack & Van Til
Groceries
37,168 visits/mo
0.3 miles
McDonald's
Dining
19,411 visits/mo
0.4 miles
Dunkin' Donuts
Dining
13,207 visits/mo
0.4 miles
Pet Supplies Plus
Shops & Services
8,744 visits/mo
0.4 miles
Burger King
Dining
7,644 visits/mo
0.4 miles
Demographics for 46368, IN
39,837
Population
16,870
Households
2.4
Avg Household Size
39
Median Age
18%
College-Educated
90%
High-School Grad
25.3 sq mi
ZIP Area
1,575
Density / Sq Mi
$72,638
Median Household Income
$42,508
Median Earnings
$1,140
Median Rent
$213,500
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
Similar Off Market Nearby
- Moods Pub & Sports Bar — 2548 Portage Mall, Portage, IN 46368
- Stone Quarry Lounge — 2596 Portage Mall, Portage, IN 46368
- Decibels at Roxx — 2522 Portage Mall, Portage, IN 46368
- On the Roxx — 2522 Portage Mall, Portage, IN 46368
- Mark O's Bar & Grill Portage — 2385 Willowcreek Rd, Portage, IN 46368
Frequently Asked Questions
What type of property is this?
Bar & Pub - Turn-key bar and restaurant with an indoor-outdoor patio opening concept, liquor license, and paved parking.
Where is this bar & pub located?
The property is located at 2385 Willowcreek Road Portage, IN.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 7,566 SF building built in 1980 with nearly 1,700 SF of rentable space; Bar/restaurant includes roll‑up garage door windows that open to an outdoor patio; Sale includes a thriving business, all fixtures, and a valuable 3‑way liquor license
