3045 State Road 8, Albion, IN 46701
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.