Lakefront Bar & Grill
8939 E Southshore Dr Unionville, IN 47468
For Sale
Contact for pricing
Restaurant building with bar, commercial kitchen, indoor and outdoor seating, plus a dock with annual lease.
Property Size2,682 SF
Price / SF$296.42
Days on Market345
Property Features for 8939 E Southshore Dr
General Information
Standard status
Active
Size
2,682 SF
Property subtype
RETAIL
Listing Agency:
F.C. Tucker/Bloomington, REALTORS
(812) 340-3083
Listed By:
Chris Cockerham · License #RB14027897
(812) 340-3083
Source:
Moodyscre
Added: Aug 19, 2025
Changed: Jul 28
Last Checked: Jul 28 at 4:04AM
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 F.C. Tucker/Bloomington, REALTORS
Investment Insights
Based on property information with market context.
The Porthole Inn is a for-sale, lakefront bar and grill offering that includes both the restaurant real estate and the established operating business. The property includes a 2,682 SF restaurant building with indoor and outdoor seating, a full commercial kitchen with a pizza oven and walk-in coolers, and a bar with a small stage for live entertainment. Recent updates include new garage doors on the east side of the building.
In addition to ample on-site parking, the offering includes a detached one-bedroom, one-bath cabin that may support staff housing, storage, or supplemental rental income. A dock on Lake Lemon is leased annually for use by the Porthole Inn, providing direct lake access and supporting customer visitation.
The business is described as fully operational and open year-round. Liquor and food licenses convey with the sale, along with all furniture, fixtures, and equipment (FF&E). Financials are available upon request.
In addition to ample on-site parking, the offering includes a detached one-bedroom, one-bath cabin that may support staff housing, storage, or supplemental rental income. A dock on Lake Lemon is leased annually for use by the Porthole Inn, providing direct lake access and supporting customer visitation.
The business is described as fully operational and open year-round. Liquor and food licenses convey with the sale, along with all furniture, fixtures, and equipment (FF&E). Financials are available upon request.
Key Highlights
- 2,682 SF restaurant building with indoor and outdoor seating overlooking Lake Lemon
- Full commercial kitchen with pizza oven and walk‑in coolers
- Bar area with a small stage for live entertainment
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.3k | $18.00 |
| − Vacancy | −$2.0k | −$0.76 |
| EGI | $46.2k | $17.24 |
| − OpEx | −$11.6k | −$4.31 |
| NOI | $34.7k | $12.93 |
2,682 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$495.5K
$433.6K – $578.1K
NOI $34,686 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$524.2K
$458.6K – $611.5K
NOI $36,691 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant building with bar, commercial kitchen, indoor and outdoor seating, plus a dock with annual lease.
Where is this conventional restaurant located?
The property is located at 8939 E Southshore Dr Unionville, IN.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 2,682 SF restaurant building with indoor and outdoor seating overlooking Lake Lemon; Full commercial kitchen with pizza oven and walk‑in coolers; Bar area with a small stage for live entertainment
