Remodeled Drive-Through
For Sale
$149,900
606 N Jefferson St, Silver Lake, IN 46982
Established root beer stand with updated equipment, inventory, real estate, and business entity included in the sale.
Property Size924 SF
Price / SF$162.23
Days on Market20
Property Features for 606 N Jefferson St
General Information
Standard status
Active
Size
924 SF
Additional Details
Business Included
Yes
Equipment Included
Yes
Building Details
Year Built
1956
Listing Agency:
Homes Land & Lakes Realty
(574) 505-0681
Listed By:
Orville Haney · License #RB18000113
Source:
Theferrellgroupkw
Added: Aug 11
Changed: Aug 29
Last Checked: Aug 29 at 3:41PM
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 Homes Land & Lakes Realty
Investment Insights
Based on property information with market context.
The Silver Lake B&K drive-in is a drive-through restaurant and root beer stand originally built in 1956. The property has undergone remodeling and includes newer working components and equipment. The offering includes the real estate, equipment, inventory, and LLC, creating a combined business and property sale. The restaurant is currently winterized and is described as capable of year-round operation at the buyer’s discretion.
Located at 606 N Jefferson St in Silver Lake, Indiana, the property serves as an operating food-service facility with an established history in the community. The business and its associated improvements are offered together, with equipment in place for a future reopening.
Located at 606 N Jefferson St in Silver Lake, Indiana, the property serves as an operating food-service facility with an established history in the community. The business and its associated improvements are offered together, with equipment in place for a future reopening.
Key Highlights
- Drive‑through restaurant and root beer stand at 606 N Jefferson St, Silver Lake, IN 46982
- Originally built in 1956
- Remodeled property with newer working components and equipment
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
$9,958
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
6.64%
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%
$199,160
$199.2K
Cap Rate 7%
$142,257
$142.3K
Cap Rate 9%
$110,644
$110.6K
Market Conditions
NOI Build-Up for 924 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
$13.9K $15.00/SF
− Vacancy
−$582 −$0.63/SF
EGI
$13.3K $14.37/SF
− OpEx
−$3.3K −$3.59/SF
NOI
$10.0K $10.78/SF
Area
Kosciusko County, IN
Vacancy
4.20%
Lease Rate
$15.00 /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%
$199,160
Cap Rate 7%
$142,257
Cap Rate 9%
$110,644
Alternative Uses
Best Use
Specialty Retail
$142.3K
$124.5K – $166.0K
NOI $9,958 @ 7.0% cap · market cap 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$161.0K
$140.9K – $187.8K
NOI $11,268 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
2k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
2,426 visits/mo
0.4 miles
Demographics for 46982, IN
2,602
Population
1,445
Households
1.8
Avg Household Size
42
Median Age
19%
College-Educated
93%
High-School Grad
44.5 sq mi
ZIP Area
58
Density / Sq Mi
$75,709
Median Household Income
$50,668
Median Earnings
$1,006
Median Rent
$175,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Established root beer stand with updated equipment, inventory, real estate, and business entity included in the sale.
Where is this drive through restaurant located?
The property is located at 606 N Jefferson St Silver Lake, IN.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Drive‑through restaurant and root beer stand at 606 N Jefferson St, Silver Lake, IN 46982; Originally built in 1956; Remodeled property with newer working components and equipment
