Property profile

3045 State Road 8 Albion, IN 46701

OFF-MARKET
Commercial real estate
0.84 ac lot Built 1950
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Property summary

AI-generated overview

This exceptional commercial property presents a unique investment opportunity in Albion, Indiana. Situated on 0.84 acres, the property features a former restaurant building, previously operating as a lakeside establishment known as the Lake House restaurant. The sale includes all existing restaurant equipment, offered in "as-is" condition. This provides a blank canvas for a new culinary venture or the potential for repurposing the space for a different commercial use. The property's prime location on Skinner Lake in Noble County offers stunning views and high visibility, attracting potential customers and tenants. Adding significant value to this offering are six (6) mobile home properties currently generating rental income. This diversified income stream provides a stable return on investment, supplementing the potential revenue from the restaurant building. The property's size and existing infrastructure offer considerable flexibility for future development or expansion. This is a rare chance to acquire a multifaceted commercial property with significant income potential and a desirable lakeside location. The property is priced at $385,000 and is ready for a new owner to capitalize on its numerous possibilities. Serious inquiries are encouraged.

Property profile

Verified
Property type Commercial real estate
Year built 1950
Lot 0.84 ac (36,590 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

3045 State Road 8 Albion, IN 46701
Albion metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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