Breakfast Diner with Kitchen
3530 Michigan St, Hobart, IN 46342
For Sale
$199,900
All-brick restaurant building with two dining rooms, two bathrooms, on-site parking, and an extensive commercial kitchen package.
Property Size1,144 SF
Price / SF$174.74
Days on Market96
Property Features for 3530 Michigan St
General Information
Standard status
Size
Restaurant
Commercial Hood
Equipment Included
Building Details
Year Built
Construction
Listing Agency:
Listing Leaders MVPs
Listed By:
Christina Perez
(219) 218-2685
Source:
Amyboston.realtopiare
Added: Aug 11
Changed: Oct 25
Last Checked: Oct 7 at 5:04PM
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 Listing Leaders MVPs
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,144-square-foot all-brick commercial building is configured for a breakfast or lunch diner, with two dining rooms and two bathrooms. The property includes an extensive commercial kitchen package featuring a refrigerator and freezer, oven with stand, range with hood and fire suppression system, coffee maker, ice maker, soda and water cooler, microwave, panini maker, soup warmer, and three-compartment sink. Additional fixtures include a stainless steel storage cabinet and stainless steel prep table.
On-site parking supports the restaurant layout at 3530 Michigan St in Hobart, Indiana. The included equipment and existing dining areas provide a defined physical setup for continued restaurant use.
On-site parking supports the restaurant layout at 3530 Michigan St in Hobart, Indiana. The included equipment and existing dining areas provide a defined physical setup for continued restaurant use.
Key Highlights
- 1,144 SF all‑brick commercial building
- Two dining rooms and two bathrooms
- Commercial range with hood and fire suppression system included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,637
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$132,740
$132.7K
Cap Rate 7%
$94,814
$94.8K
Cap Rate 9%
$73,744
$73.7K
Market Conditions
NOI Build-Up for 1,144 SF
Gross rent
$10.0K $8.76/SF
− Vacancy
−$540 −$0.47/SF
EGI
$9.5K $8.29/SF
− OpEx
−$2.8K −$2.49/SF
NOI
$6.6K $5.80/SF
Area
Lake County, IN
Vacancy
5.39%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$132,740
Cap Rate 7%
$94,814
Cap Rate 9%
$73,744
Alternative Uses
Best Use
Specialty Retail
$319.4K
$279.4K – $372.6K
NOI $22,355 @ 7.0% cap · market cap 11.18%
Second Best
Industrial
$94.8K
$83.0K – $110.6K
NOI $6,637 @ 7.0% cap · market cap 3.32%
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
Commercial hood
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
41k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 67%
Dining 33%
Speedway
Shops & Services
12,334 visits/mo
0.3 miles
Dunkin' Donuts
Dining
10,050 visits/mo
0.3 miles
Dollar General
Shops & Services
6,718 visits/mo
0.4 miles
AutoZone
Shops & Services
5,122 visits/mo
0.4 miles
El Ranchero
Dining
3,543 visits/mo
0.1 miles
Demographics for 46342, IN
32,540
Population
13,774
Households
2.4
Avg Household Size
40
Median Age
21%
College-Educated
93%
High-School Grad
35.0 sq mi
ZIP Area
930
Density / Sq Mi
$72,163
Median Household Income
$41,574
Median Earnings
$1,110
Median Rent
$193,400
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?
Breakfast & diner - All-brick restaurant building with two dining rooms, two bathrooms, on-site parking, and an extensive commercial kitchen package.
Where is this breakfast & diner located?
The property is located at 3530 Michigan St Hobart, IN.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 1,144 SF all‑brick commercial building; Two dining rooms and two bathrooms; Commercial range with hood and fire suppression system included
