Restaurant Building with Bar
2402 S Home Avenue, Marion, IN 46953
For Sale
Contact for pricing
Commercial Sale, Marion, IN
Property Size1,089 SF
Lot Size0.12 Acres
Price / SF$22.96
Days on Market466
Property Features for 2402 S Home Avenue
General Information
Property type
Property subtype
Zoning
Middle school
Elementary school district
Middle school district
High school district
Directions
Subdivision
Standard status
APN
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Building Details
Year built
Listing Agency:
Starr Real Estate LLC
Listed By:
Heather Clemmons · License IN RB14039183
(765) 288-1711
Added: Aug 1, 2025
Changed: Oct 8
Last Checked: Nov 9 at 10:06PM
MLS# 22052799
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 1,089-square-foot commercial restaurant building was constructed in 1940 and includes a primary customer area, bar fixtures, kitchen, bathroom, and rear storage room. The property is zoned 430: Commercial Restaurant, supporting its established restaurant-oriented configuration. Three front windows and the bathroom window were replaced in 2024.
Electric, natural gas, and sewer utilities are available to the property. Water service requires connection from the city main. Parking is provided in both the front and rear of the building. The 0.12-acre site is located at 2402 S Home Avenue in Marion, Indiana.
Electric, natural gas, and sewer utilities are available to the property. Water service requires connection from the city main. Parking is provided in both the front and rear of the building. The 0.12-acre site is located at 2402 S Home Avenue in Marion, Indiana.
Key Highlights
- 1,089‑square‑foot commercial restaurant building constructed in 1940
- Zoned 430: Commercial Restaurant
- Existing bar area, kitchen, bathroom, and rear storage room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,804
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,080
$296.1K
Cap Rate 7%
$211,486
$211.5K
Cap Rate 9%
$164,489
$164.5K
Market Conditions
NOI Build-Up for 1,089 SF
Gross rent
$20.6K $18.96/SF
− Vacancy
−$908 −$0.83/SF
EGI
$19.7K $18.13/SF
− OpEx
−$4.9K −$4.53/SF
NOI
$14.8K $13.59/SF
Area
Grant County, IN
Vacancy
4.40%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,080
Cap Rate 7%
$211,486
Cap Rate 9%
$164,489
Alternative Uses
Best Use
Specialty Retail
$211.5K
$185.1K – $246.7K
NOI $14,804 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
142
Businesses Nearby
2k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Marathon Petroleum
Shops & Services
2,330 visits/mo
0.4 miles
Demographics for 46953, IN
22,781
Population
10,095
Households
2.3
Avg Household Size
37
Median Age
16%
College-Educated
84%
High-School Grad
85.6 sq mi
ZIP Area
266
Density / Sq Mi
$46,224
Median Household Income
$25,969
Median Earnings
$800
Median Rent
$88,400
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?
Conventional restaurant - Existing restaurant layout includes a service bar, kitchen, restroom, storage area, and parking at both the front and rear.
Where is this conventional restaurant located?
The property is located at 2402 S Home Avenue Marion, IN.
What are key features of this property?
This property features: 1,089‑square‑foot commercial restaurant building constructed in 1940; Zoned 430: Commercial Restaurant; Existing bar area, kitchen, bathroom, and rear storage room
