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    Property profile & analytics

    12634 In-23 Granger, IN 46530

    • Retail properties
    • 12,240 SF
    • 1.70 lot acres
    OFF-MARKET
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 12634 In-23

    Lot size
    1.70 lot acres
    Property size
    12,240 SF
    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    This exceptional 4,095 square foot restaurant space, located at 12634 SR 23 in Granger, Indiana, presents a unique opportunity for a discerning tenant. Currently operating as Zully's Restaurant Bar and Grille until February 2025, the space is projected to be available in March 2025, with potential for earlier occupancy depending on tenant needs. The lease rate is $15 per square foot, plus a monthly CAM charge of $850, encompassing property insurance, taxes, and general maintenance. The property boasts a desirable location on highly visible SR 23/Adams Road, near the intersection of SR 23 and Bittersweet Road, benefiting from high traffic volume and excellent visibility. The 1.7-acre site offers ample parking with 75 spaces. The building itself is part of a larger 12,240 square foot strip center, enjoying the synergy of neighboring businesses including Vamp Beauty Salon, MMB Dance Fitness Studio, and Salsa's. The restaurant space features a spacious dining area, an inviting outdoor patio, a horseshoe-style bar, a fully equipped kitchen, and even a stage for live entertainment. Recent upgrades include a 2021 electrical upgrade, a new roof and AC unit in 2022, a 2022 bathroom remodel, upgraded lighting, and a new heater. A comprehensive inventory of existing restaurant equipment and furniture (including TVs, grill, and fryer) is available upon request. The property's County C: Commercial zoning ensures flexibility for various uses. Its strategic location provides easy access to Mishawaka, South Bend, and Elkhart (within 10 miles), and is conveniently situated just 5 minutes from the Indiana Toll Road and 10 miles from the US 20 Bypass. This is an exceptional opportunity to establish or relocate your business in a thriving commercial area.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Granger
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.1134
    Latitude
    41.7535

    Comparable in this City

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      51541 Bittersweet Rd

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    • Value Estimation by Request
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      12645 Sr 23 Hwy

      Office Properties & Spaces • 10,064 SF
      12645 Sr 23 Hwy, Granger, IN 46530
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    • Value Estimation by Request
      4,008 SF

      12650 Adams Rd

      Individual retail properties • 4,008 SF
      12650 Adams Rd, Granger, IN 46530
      View Details

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    12634 In-23
    Granger, IN 46530
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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