5 American Legion Pl Greenfield, IN 46140
- Retail space
- 5,200 SF
- 0.08 lot acres
Current Use by Public Records
- Retail space
Property Details for 5 American Legion Pl
- Year built
- 1897
- Construction
- WOOD
- Lot size
- 0.08 lot acres
- Property size
- 5,200 SF
- Property type
- Retail space
- APN
- 30-07-32-405-001.000-009
- APU
- 300732405001000009
Description
This exceptional opportunity encompasses a thriving Italian restaurant and its accompanying real estate in Greenfield, Indiana's rapidly expanding Hancock County. Located on a 0.08-acre lot at 5 American Legion Place, this 5,200 square foot building enjoys a highly visible position just off US 40 (Main Street/Old National Rd), one block east of State Street. The restaurant, "Tour Of Italy," has operated successfully for nine years, establishing itself as a downtown staple. Its prime location across from the county courthouse, 600 feet from the Pennsy Trail, and a quarter-mile from Depot Street Park (summer concert venue) ensures high foot traffic and visibility. The main floor comfortably seats 73 guests, with an additional 40+ seats available on the rear patio. An upper-floor overflow area presents significant expansion potential, accessible via both interior and exterior entrances. The building includes two main floor restrooms and one additional restroom upstairs. Ample parking is available on the street and in a nearby public lot with convenient restaurant access. The building is well-maintained and full of charm. This turnkey operation includes the real estate, established business, and owner training, offering a unique opportunity to capitalize on Greenfield's vibrant and growing downtown, further enhanced by events like the James Whitcomb Riley Festival and its proximity to Indianapolis (20 minutes away).
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $285,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $415,000
- 6.5%
- $370,000
- 7%
- $410,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $365,000
- Geo Method
- $360,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $425,000
- Retail
- $445,000
- Mixed-Use
- $440,000
- Hospitality
- $475,000
- Educational
- $465,000
- Residential Income
- $445,000
- Energy
- $410,000
- Income-Based Land
- $390,000
- Food Service
- $390,000
Location Insight
- Map
- Local Demand
- City
- Greenfield
- County
- Hancock
- State
- Indiana
- Longitude
- -85.7681
- Latitude
- 39.785
- CBSA code
- 26900
- CBSA name
- INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA
