Drive-Through Restaurant with
For Sale
$995,000
4711 E National Road, Richmond, IN 47374
COMMERCIAL, Richmond, IN
Property Size4,056 SF
Lot Size0.11 Acres
Price / SF$245.32
Days on Market146
Property Features for 4711 E National Road
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
City
Directions
Take I-70 to Richmond. Take exit 156A for US-40W. Property is on your left.
Subdivision
Wayne County
Standard status
Active
APN
89-16-35-440-206.003-030
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
PT SE SEC 35-14-1 0.109A
Tax Annual Amount
21306
Legal Description
PT SE SEC 35-14-1 0.109A
Utilities
Cooling system
Central Air
Building Details
Year built
1989
Flooring type
Tile, Carpet
Roof type
Shingle
Buildings
1
Listing Agency:
Tarter Realty Auction and Appraisal Company
(765) 595-8155
Listed By:
Paul Faddis · License #RB15000347
(765) 994-8533
Added: Jun 12
Changed: Oct 27
Last Checked: Nov 4 at 3:06AM
MLS# 202623364
Copyright © 2026 Mid-Eastern Indiana Association of Realtor MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The 4,056-square-foot restaurant was built in 1989 and includes a commercial kitchen and drive-through. The site measures 0.11 acres and is zoned General Commercial. The building is offered for sale; leasing the existing space on a NNN basis or a land lease are also described as options.
The property is on E. National Road in Richmond, along the I-70 corridor and minutes from Exit 156A. The Indiana-Ohio state line is less than two miles away. Retailers and restaurants in the surrounding corridor include Walmart, Lowe's, Kohl's, AMC Theatres, Cracker Barrel, Jimmy John's, Taco Bell, and Walgreens. Reid Health, Indiana University East, Ivy Tech Community College, and Earlham College are each within five miles.
The property is on E. National Road in Richmond, along the I-70 corridor and minutes from Exit 156A. The Indiana-Ohio state line is less than two miles away. Retailers and restaurants in the surrounding corridor include Walmart, Lowe's, Kohl's, AMC Theatres, Cracker Barrel, Jimmy John's, Taco Bell, and Walgreens. Reid Health, Indiana University East, Ivy Tech Community College, and Earlham College are each within five miles.
Key Highlights
- 4,056‑square‑foot restaurant building with commercial kitchen and drive‑through
- 0.11‑acre site zoned General Commercial
- Built in 1989
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,708
Cap Rate
3.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$654,160
$654.2K
Cap Rate 7%
$467,257
$467.3K
Cap Rate 9%
$363,422
$363.4K
Market Conditions
NOI Build-Up for 4,056 SF
Gross rent
$48.7K $12.00/SF
− Vacancy
−$5.1K −$1.25/SF
EGI
$43.6K $10.75/SF
− OpEx
−$10.9K −$2.69/SF
NOI
$32.7K $8.06/SF
Area
Wayne County, IN
Vacancy
10.40%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$654,160
Cap Rate 7%
$467,257
Cap Rate 9%
$363,422
Alternative Uses
Best Use
Specialty Retail
$467.3K
$408.9K – $545.1K
NOI $32,708 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$508.4K
$444.9K – $593.2K
NOI $35,591 @ 7.0% cap · market cap 3.58%
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
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
344k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 42%
Dining 20%
Home Improvements & Furnishings 20%
Apparel 8%
Menards
Home Improvements & Furnishings
47,383 visits/mo
0.5 miles
Hobby Lobby
Shops & Services
38,408 visits/mo
0.2 miles
Five Below
Shops & Services
29,955 visits/mo
0.1 miles
Speedway
Shops & Services
26,710 visits/mo
0.2 miles
Buffalo Wild Wings
Dining
19,897 visits/mo
0.0 miles
Demographics for 47374, IN
45,304
Population
21,553
Households
2.1
Avg Household Size
41
Median Age
22%
College-Educated
88%
High-School Grad
119.8 sq mi
ZIP Area
378
Density / Sq Mi
$52,566
Median Household Income
$34,168
Median Earnings
$816
Median Rent
$121,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Drive through restaurant - The existing restaurant includes a commercial kitchen and drive-through, with General Commercial zoning.
Where is this drive through restaurant located?
The property is located at 4711 E National Road Richmond, IN.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 4,056‑square‑foot restaurant building with commercial kitchen and drive‑through; 0.11‑acre site zoned General Commercial; Built in 1989
