Building Details

Year Built 1989

Buildings 1

Listing Agency: Carpenter Realty LLC

Listed By: Keasha Fromme · License #RB21000024 Show Phone

Source: Spencerchildersgroup

Added: Sep 1 Changed: Oct 3 Last Checked: Oct 7 at 2:27PM

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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 Carpenter Realty LLC

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Investment Insights

Based on property information with market context.

This conventional restaurant property includes 3,240 square feet of building area on more than one-third of an acre. The 1989 building provides seating for approximately 100 guests, 22-foot ceilings, exposed poplar beams native to Dubois County, and an approximately 180-year-old bar with an oversized mirror. The sale includes a commercial kitchen, equipment, furnishings, established recipes, a three-way liquor license, and experienced help for continued operations.

Located at 5353 E Main St in Dubois, Indiana, the property is surrounded by established businesses and sits near local schools. The existing restaurant and bar operation dates to 1966, while the current building was constructed in 1989. Its configuration also supports consideration of other food-service concepts, including bakery, café, deli, dessert, catering, or specialty food uses, as stated in the property information.

Key Highlights

• 3,240‑square‑foot restaurant property on more than one‑third of an acre
• Seating for approximately 100 guests with 22‑foot ceilings
• Approximately 180‑year‑old bar with oversized mirror

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,458

Cap Rate

5.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$289,160 $289.2K

Cap Rate 7%

$206,543 $206.5K

Cap Rate 9%

$160,644 $160.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,240 SF

Gross rent

$22.2K $6.84/SF

− Vacancy

−$1.5K −$0.47/SF

EGI

$20.7K $6.37/SF

− OpEx

−$6.2K −$1.91/SF

NOI

$14.5K $4.46/SF

Area

Dubois County, IN

Vacancy

6.80%

Lease Rate

$6.84 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$289,160

Cap Rate 7%

$206,543

Cap Rate 9%

$160,644

Alternative Uses

Best Use

Specialty Retail

$498.8K

$436.5K – $582.0K (±1% cap)

NOI $34,919 @ 7.0% cap · market cap 13.18%

Second Best

Industrial

$206.5K

$180.7K – $241.0K (±1% cap)

NOI $14,458 @ 7.0% cap · market cap 5.46%

Theoretical Best

Multifamily LT 5

$23.02M

$20.14M – $26.85M (±1% cap)

NOI $1,611,242 @ 7.0% cap · market cap 608.02%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Building Supply Auto Repair Shop Electrical Service Storage Facility Pet Grooming Service Skin Care Clinic

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

Yes

Paved road access

Yes

Liquor license

Location Intelligence

Trade Area within ½ mile

55

Businesses Nearby

674

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Home Improvements & Furnishings 100%

Menys True Value Home Improvements & Furnishings

674 visits/mo 0.2 miles

Demographics for 47527, IN

1,918

Population

824

Households

2.3

Avg Household Size

42

Median Age

30%

College-Educated

95%

High-School Grad

55.4 sq mi

ZIP Area

35

Density / Sq Mi

$88,571

Median Household Income

$51,983

Median Earnings

$785

Median Rent

$260,700

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

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Commercial kitchen, furnishings, and a liquor license support continued food-service operations from this Main Street location.

Where is this conventional restaurant located?

The property is located at 5353 E Main St Dubois, IN.

What is the asking price?

The asking price for this property is $265,000.

What are key features of this property?

This property features: 3,240‑square‑foot restaurant property on more than one‑third of an acre; Seating for approximately 100 guests with 22‑foot ceilings; Approximately 180‑year‑old bar with oversized mirror