Building Details

Year Built 1984

Buildings 1

Stories 1

Listing Agency: Hahn Kiefer Real Estate a***@hahnkiefer.com Show Phone

Listed By: Aaron Wilson · License #IN RB14034509

Source: Crexi

Added: Jan 30 Changed: Aug 8 Last Checked: Aug 11 at 6:48PM

Report an Issue

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 Hahn Kiefer Real Estate

Investment Insights

Based on property information with market context.

This is a turn-key restaurant opportunity located in Posey County. Froggy’s Restaurant is a local dining destination with an established customer base and a strong community presence. The property features a fully operational kitchen, a spacious dining area, and ample on-site parking. The location offers flexibility for continued restaurant use, bar and grill operations, or a refreshed dining concept. Its roadside location provides visibility and convenient access for local patrons and pass-through traffic traveling between Evansville and western Posey County communities. The property size is 3,606 square feet. This is an opportunity to acquire a recognized local establishment with immediate operating potential. It is suited for restaurateurs, hospitality groups, or investors looking to capitalize on a proven location with community support. The property is an established restaurant location with clientele, a fully equipped kitchen and dining setup, roadside visibility and easy access, and ample parking for guests and staff. The property is located at 7247 Main St, Wadesville, IN 47638.

Key Highlights

• Turn‑key restaurant opportunity with established customer base and strong community presence.
• Fully equipped and operational kitchen and spacious dining area.
• Excellent roadside visibility and easy access on a well‑traveled road.

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

$59,715

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

9.19%

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%

$1,194,300 $1.2M

Cap Rate 7%

$853,071 $853.1K

Cap Rate 9%

$663,500 $663.5K

Market Conditions

NOI Build-Up for 3,606 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

$86.5K $24.00/SF

− Vacancy

−$6.9K −$1.92/SF

EGI

$79.6K $22.08/SF

− OpEx

−$19.9K −$5.52/SF

NOI

$59.7K $16.56/SF

Area

Posey County, IN

Vacancy

8.00%

Lease Rate

$24.00 /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%

$1,194,300

Cap Rate 7%

$853,071

Cap Rate 9%

$663,500

Alternative Uses

Best Use

Specialty Retail

$853.1K

$746.4K – $995.3K (±1% cap)

NOI $59,715 @ 7.0% cap · market cap 9.19%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$895.2K

$783.3K – $1.04M (±1% cap)

NOI $62,665 @ 7.0% cap · market cap 9.64%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Conventional restaurants

Suggested Use

Top Pick Grocery & Convenience Store Storage Facility Garden Center Pharmacy HVAC Service Nail Salon

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

48

Businesses Nearby

7k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Marathon Shops & Services

7,393 visits/mo 0.3 miles

Demographics for 47638, IN

3,620

Population

1,506

Households

2.4

Avg Household Size

41

Median Age

29%

College-Educated

93%

High-School Grad

47.7 sq mi

ZIP Area

76

Density / Sq Mi

$84,311

Median Household Income

$44,102

Median Earnings

$916

Median Rent

$263,300

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?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Established restaurant with loyal clientele in Posey County.

Where is this conventional restaurant located?

The property is located at 7247 Main St Wadesville, IN.

What is the asking price?

The asking price for this property is $649,900.

What are key features of this property?

This property features: Turn‑key restaurant opportunity with established customer base and strong community presence.; Fully equipped and operational kitchen and spacious dining area.; Excellent roadside visibility and easy access on a well‑traveled road.