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Property profile & analytics
OFF-MARKET
Retail properties & Spaces

12634 In-23 Granger, IN 46530

12,240 SF 1.7 ac lot
Property ID
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Retail properties & Spaces
Total area 12,240 SF
Lot 1.7 ac (74,052 SF)
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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