Building Details

Year Built 1957

Buildings 2

Listing Agency: FC Tucker/Bloomington REALTORS

Listed By: Chris Cockerham · License #RB14027897 Show Phone

Source: Callcriswell

Added: Aug 22 Changed: Oct 12 Last Checked: Oct 7 at 5:43PM

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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 FC Tucker/Bloomington REALTORS

Investment Insights

Based on property information with market context.

The property includes a 2,682 SF restaurant and a separate 1BR/1BA cabin. Dining and kitchen equipment convey with the property, along with liquor and food licenses. The restaurant business, Porthole Inn, has operated since 1957, and the building was constructed that year.

A dock on Lake Lemon provides direct lake access, while the property is located at 8939 E Southshore Dr in Unionville, Indiana. Ample parking is available on site, supporting restaurant operations and customer access.

Key Highlights

• 2,682 SF restaurant building with detached 1BR/1BA cabin
• Dock on Lake Lemon provides direct lake access
• Liquor license and food license included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,686

Cap Rate

4.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$693,720 $693.7K

Cap Rate 7%

$495,514 $495.5K

Cap Rate 9%

$385,400 $385.4K

Market Conditions

NOI Build-Up for 2,682 SF

Gross rent

$48.3K $18.00/SF

− Vacancy

−$2.0K −$0.76/SF

EGI

$46.2K $17.24/SF

− OpEx

−$11.6K −$4.31/SF

NOI

$34.7K $12.93/SF

Area

Monroe County, IN

Vacancy

4.20%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$693,720

Cap Rate 7%

$495,514

Cap Rate 9%

$385,400

Alternative Uses

Best Use

Specialty Retail

$495.5K

$433.6K – $578.1K (±1% cap)

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 (±1% cap)

NOI $36,691 @ 7.0% cap · market cap 4.62%

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

Property Analytics

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Current Use

Port Hole Inn Bar & Pub

Suggested Use

Top Pick Real Estate Agency Travel Agency Restaurant Bed & Breakfast Hotel & Motel

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

Liquor license

Location Intelligence

Trade Area within ½ mile

8

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 47468, IN

1,180

Population

905

Households

1.3

Avg Household Size

53

Median Age

41%

College-Educated

95%

High-School Grad

30.3 sq mi

ZIP Area

39

Density / Sq Mi

$81,979

Median Household Income

$45,327

Median Earnings

$973

Median Rent

$282,600

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?

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Operating restaurant with a detached one-bedroom cabin, lake access, included licenses, and on-site parking.

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 detached 1BR/1BA cabin; Dock on Lake Lemon provides direct lake access; Liquor license and food license included