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Restaurant with Upstairs Apartment
For Sale
$225,000

407 Third St, Howe, IN 46746

COMMERCIAL, Howe, IN

Property SizeContact for details
Lot Size0.23 Acres
Days on Market180

Property Features for 407 Third St

General Information

Property type Commercial Sale
Property subtype Other
Rooms Basement
Parking features Off Street
Directions Third St Howe IN across from the park .
Subdivision LaGrange County
Standard status Active
APN 44-02-30-300-000.026-012
Lot size 0.23 Acres

Taxes and HOA fees

Tax Year 49
Tax Description OP N 28' of lots 64 & 69 and op S 28.5 of lots 63 & 96
Tax Annual Amount 694
Legal Description OP N 28' of lots 64 & 69 and op S 28.5 of lots 63 & 96

Utilities

Cooling system Central Air

Building Details

Year built 1900
Flooring type Laminate, Concrete
Roof type Shingle
Listing Agency: Lewis & Lambright Inc
Listed By: John Wainwright
Added: Feb 23 Changed: Aug 19 Last Checked: Aug 22 at 6:06AM
MLS# 202605655

Copyright © 2026 Northeastern 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.

Investment Insights

Based on property information with market context.

This turnkey restaurant opportunity includes business equipment along with the underlying real estate. The property features central air cooling, concrete and laminate flooring, and a shingle roof. Off-street parking is available for customers and employees.

The restaurant is located at 407 Third St in Howe, Indiana (LaGrange County). The upstairs apartment is currently rented, and the layout may support owner occupancy or staff housing depending on how a buyer plans to use the space.

Built in 1900 and set on a 0.228-acre lot, the property includes basement space and a conventional restaurant floor plan with interior rooms including a basement.

Key Highlights

  • Includes business equipment with the underlying restaurant real estate
  • Upstairs apartment is currently rented
  • Central air cooling

Property Analytics

Current Use

The Gathering Place Restaurant Restaurant

Suggested Use

Top Pick Building Supply HVAC Service Auto Parts Store Storage Facility Big Box & Wholesale Store Butcher

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

Lease Details

Turnkey business
Opportunity

Location Intelligence

Trade Area within ½ mile

79
Businesses Nearby
28k
Monthly Visits Nearby
Well-served
Demand for This Use

Foot Traffic Nearby

Shops & Services 100%
BP Shops & Services
10,417 visits/mo 0.3 miles
Phillips 66 Shops & Services
9,229 visits/mo 0.4 miles
Dollar General Shops & Services
8,067 visits/mo 0.4 miles

Demographics for 46746, IN

4,003
Population
1,602
Households
2.5
Avg Household Size
38
Median Age
18%
College-Educated
83%
High-School Grad
71.7 sq mi
ZIP Area
56
Density / Sq Mi
$78,250
Median Household Income
$37,191
Median Earnings
$832
Median Rent
$157,000
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
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Frequently Asked Questions

What type of property is this?
Conventional restaurant - Turnkey restaurant includes business equipment and an upstairs apartment, with central air and off-street parking on a small city lot.
Where is this conventional restaurant located?
The property is located at 407 Third St Howe, IN.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Includes business equipment with the underlying restaurant real estate; Upstairs apartment is currently rented; Central air cooling
More about this property
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