Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3700 Montgomery St Hobart, IN 46342

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Former restaurant with large parking lot and available liquor license.

    Type:Retail
    Property size:
    4,753 SF
    Price / SF:
    $126/SF
    Added:
    May 9, 2022
    Days on Market:
    1454
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 3700 Montgomery St

    General Information

    Standard status
    Active
    Size
    4,753 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    Vladimir Ganz

    Listing agent Vladimir Ganz License #INNN

    Listing office Ascend Real Estate Advisors

    Listing date May 9, 2022

    Source Crexi

    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 Ascend Real Estate Advisors

    Overview

    Former Restaurant with High Visibility

    This is a former restaurant property offering excellent street visibility and high traffic counts. The property includes a large parking lot. A liquor license is available. The building has a size of 4,753 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Dental Office Building Supply Gym & Fitness Center Auto Repair Shop Pharmacy Big Box & Wholesale Store Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hobart
    County
    Lake
    State
    Indiana
    Longitude
    -87.3027683
    Latitude
    41.5508723

    Nearby Similar for Sale

    • $269,500
      1,480 SF

      Commercial Property on Main Street

      Highly visible commercial property with leasing potential in central Hobart.
      341 Main Street, Hobart, IN 46342
      View Details
    • $300,000

      Renovated Duplex in Hobart, IN

      Two-unit property with updated interiors and new appliances.
      529 Lake Street, Hobart, IN 46342
      View Details
    • $1,798,600
      10,640 SF

      New Dollar General NNN Lease

      New construction Dollar General in Hobart, IN with long-term lease.
      700 N County Line Rd , Hobart, IN 46342
      View Details
    • $1,299,900
      17,500 SF

      Hobart Commercial Property For Sale

      2.3 acres with two buildings suitable for various uses.
      939 S Wisconsin Street, Hobart, IN 46342
      View Details
    • $475,000
      2,648 SF

      Retail Property in Hobart, Indiana

      Retail property with 46,609 sqft space in Hobart, Indiana.
      11 N Hobart Road, Hobart, IN 46342
      View Details
    • Contact for pricing
      2,880 SF

      Retail Space in Hobart Center

      Retail space for lease in Pavilions of Hobart.
      1403-1413 Lake Park Ave, Hobart, IN
      View Details
    • $2,000,000

      Entertainment Venue in Downtown Hobart

      Income-producing entertainment venue with multiple revenue streams in downtown Hobart.
      230 Main Street, Hobart, IN 46342
      View Details
    • Contact for pricing
      2,440 SF

      Arby's Restaurant in Hobart, Indiana

      Absolute net Arby's restaurant for sale near Chicago.
      4651 W 61st Ave, Hobart, IN 46342
      View Details
    • $2,373,000

      Retail Property for Sale

      Retail property available for purchase in Hobart, Indiana.
      4651 W 61st Ave, Hobart, IN
      View Details
    • $399,000
      7,110 SF

      Professional Office Space For Sale

      Professional office building with spaces ranging from 620-2950 square feet.
      904 W Old Ridge Rd, Hobart, IN 46342
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Former restaurant with large parking lot and available liquor license.
    Where is this conventional restaurant located?
    The property is located at 3700 Montgomery St Hobart, IN.
    What is the asking price?
    The asking price for this property is $599,900.
    What are key features of this property?
    This property features: Excellent street visibility; High traffic counts; Large parking lot
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Vladimir Ganz
    Real Estate License ID: INNN
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!