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    Turnkey Restaurant with Liquor License Title is generated by Realmo AI

    3634 Central Avenue, Lake Station, IN 46405

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    For Sale
    $350,000

    COMMERCIAL - Lake Station, IN

    Property size:
    3,250 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $107/SF
    Added:
    May 16, 2025
    Days on Market:
    364
    Last Refresh:
    May 14 at 4:06 pm

    Property Features for 3634 Central Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Rooms
    Basement
    Parking
    45
    Parking features
    Alley
    Security features
    Security Lighting
    Interior features
    Wet Bar
    Basement
    Finished, Crawl Space, Interior Entry, Walk-Out Access, Storage Space
    Accessibility
    Accessible Approach with Ramp
    Appliances
    Disposal, Stainless Steel Appliance(s), Range Hood, Refrigerator, Microwave, Gas Range, Gas Cooktop, Freezer
    Standard status
    Active
    APN
    450916152021000021
    Size
    3,250 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    PETERSON'S 2ND ADD. E. GARY LOT 12 EXCEPT SO.3FT.
    Tax Annual Amount
    4403

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Water source
    Public

    Building Details

    Year built
    1945

    We can help!

    Listing Contact
    Christine Coughlin

    Listing agent Christine Coughlin License #RB17000971

    Listing office Listing Leaders 410 Lincolnway, Valparaiso, IN

    Listing date May 16, 2025

    MLS# 820900

    Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey Restaurant with Valuable 3‑Way Liquor License
    • Fully Equipped and Newly Remodeled Kitchen and Interior
    • Prime Location
    • Includes All Furnishings and Materials
    • Welcoming Pergola‑Covered Outdoor Seating Area
    • Stainless Steel Appliances Included

    Overview

    This is a turnkey restaurant opportunity located in Lake Station, Indiana. The sale includes all kitchen equipment, materials, furnishings, and a 3-way liquor license. The 3,250 square-foot building on a 0.078-acre lot features a newly remodeled kitchen, bathrooms, and signage. It also includes a pergola-covered outdoor seating area. This property is suitable for owner-operators or investors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Taco station Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Station
    County
    Lake
    State
    Indiana
    Longitude
    -87.239035
    Latitude
    41.574968

    Nearby Similar for Sale

    • $99,900
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      Lake Station Office Building For Sale

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      3799 Central Avenue, Lake Station, IN 46405
      View Details
    • $200,000
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      Turnkey Pub and Grub Business

      Turnkey pub and grub with licenses and apartment for sale.
      2808 Dekalb Street, Lake Station, IN 46405
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    • Contact for pricing
      9,000 SF

      Lake Station Redevelopment Opportunity

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    • $723,172
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      Lake Station Retail Opportunity

      Retail property for sale in Lake Station, Indiana.
      2626 Central Ave, Lake Station, IN
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Fully equipped, remodeled restaurant with a 3-way liquor license.
    Where is this conventional restaurant located?
    The property is located at 3634 Central Avenue Lake Station, IN.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Turnkey Restaurant with Valuable 3‑Way Liquor License; Fully Equipped and Newly Remodeled Kitchen and Interior; Prime Location
    (219) 508-5555
    We can help!
    Listing Contact
    Christine Coughlin
    Real Estate License ID: RB17000971
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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