Listing Agency: Carpenter, REALTORS

Listed By: Andrew Tanner Show Phone

Source: Eveloteam

Added: May 9 Changed: Sep 8 Last Checked: Sep 9 at 11:01PM

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Investment Insights

Based on property information with market context.

This restaurant property is offered for sale. The listing provides GPS-friendly directions for locating the asset.

The property is identified as being in Johnson County, Indiana, and is listed at 382 E Lakeview Drive in Nineveh, IN 46164.

For complete buildout details and current condition, interested buyers should request the full offering package from the listing broker.

Key Highlights

• Restaurant property for sale with GPS‑friendly directions
• Located in Johnson County
• Common parking

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$14,708

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

4.20%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$294,160 $294.2K

Cap Rate 7%

$210,114 $210.1K

Cap Rate 9%

$163,422 $163.4K

Market Conditions

NOI Build-Up for 1,214 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$20.7K $17.04/SF

− Vacancy

−$1.1K −$0.89/SF

EGI

$19.6K $16.15/SF

− OpEx

−$4.9K −$4.04/SF

NOI

$14.7K $12.12/SF

Area

Johnson County, IN

Vacancy

5.20%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$294,160

Cap Rate 7%

$210,114

Cap Rate 9%

$163,422

Alternative Uses

Best Use

Specialty Retail

$210.1K

$183.9K – $245.1K (±1% cap)

NOI $14,708 @ 7.0% cap · market cap 4.20%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$305.9K

$267.7K – $356.9K (±1% cap)

NOI $21,415 @ 7.0% cap · market cap 6.12%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Eddie's Lakeview Pizza Restaurant

Suggested Use

Top Pick Real Estate Agency Building Supply Storage Facility Restaurant Grocery & Convenience Store Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

26

Businesses Nearby

4k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

3,539 visits/mo 0.1 miles

Demographics for 46164, IN

4,324

Population

2,500

Households

1.7

Avg Household Size

47

Median Age

26%

College-Educated

94%

High-School Grad

26.4 sq mi

ZIP Area

164

Density / Sq Mi

$92,235

Median Household Income

$41,803

Median Earnings

$866

Median Rent

$234,000

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Restaurant property offered for sale with GPS-friendly directions in Johnson County.

Where is this conventional restaurant located?

The property is located at 382 E Lakeview Dr Nineveh, 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: Restaurant property for sale with GPS‑friendly directions; Located in Johnson County; Common parking