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    OFF-MARKET
    Commercial real estate

    3045 State Road 8, Albion, IN 46701

    0.84 ac lot Built 1950
    Property ID
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    CAP Approach CAP
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    Blend (final) Blend
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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