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    Property profile & analytics

    1 Meridian St Redkey, IN 47373-9342

    • Commercial real estate
    • 19,500 SF
    • 0.58 lot acres
    OFF-MARKET
    Value Estimation
    $370,000
    Location Intelligence
    Property ID
    US31-2170424
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Val's Bar & Grill / Bar & Grill
    • Chew Mail Pouch Tobacco / Tobacco Shop

    Property Details for 1 Meridian St

    Year built
    1899
    Construction
    WOOD
    Lot size
    0.58 lot acres
    Property size
    19,500 SF
    Property type
    Commercial real estate
    APN
    38-09-24-202-001.000-031
    APU
    380924202001000031

    Description

    This exceptional investment opportunity in Redkey, Indiana, presents a fully operational bar and grill, "Val's," complete with a Type 210 3-way Liquor License, catering and carry-out endorsement, gaming license, and cigarette license (buyer to apply). The sale includes all restaurant equipment, a security system, and a safe. Val's Bar and Grill boasts a loyal clientele, hosting weekly Queen of Hearts drawings, and serving as a regular stop for poker runs. The property also features four studio apartments, one one-bedroom apartment, and a large garage currently rented for storage, generating supplemental income. The building's significant untapped potential includes three additional storefronts and five more apartments ready for renovation and lease-up. The 0.58-acre lot provides ample space. Note that certain items such as the ATM, pool table, games, jukebox, and Coke cooler are owned by a third party and are not included in the sale. The seller is offering up to 30 days of assistance with the transition to new ownership and is open to the possibility of the current employees continuing their employment under the new owner. This property offers a unique blend of established income streams and significant upside potential for a savvy investor. Located in the heart of Redkey's revitalized downtown area, this property benefits from the collaborative spirit of the local business community.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Redkey
    County
    Jay
    State
    Indiana
    Longitude
    -85.1494
    Latitude
    40.3505

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,572
    $36,000
    $51,900
    $87,900
    -
    $36,000
    $51,900
    $87,900

    Comparable in this City

    • Value Estimation by Request
      6,896 SF

      11490 State Rd 28

      COMMERCIAL (GENERAL) • 6,896 SF
      11490 State Rd 28, Redkey, IN 47373-9614
      View Details
    • Value Estimation by Request
      2,475 SF

      129 Meridian St

      COMMERCIAL (GENERAL) • 2,475 SF
      129 Meridian St, Redkey, IN 47373-9514
      View Details
    • Value Estimation
      $320,000
      720 SF

      6748 600th S

      COMMERCIAL (GENERAL) • 720 SF
      6748 600th S, Redkey, IN 47373-9443
      View Details
    • Value Estimation by Request
      0.06 Acres

      Bell St

      COMMERCIAL (GENERAL) • 0.06 Acres
      Bell St, Redkey, IN 47373
      View Details
    • Value Estimation by Request
      899 SF

      120 High St

      COMMERCIAL (GENERAL) • 899 SF
      120 High St, Redkey, IN 47373
      View Details
    • Value Estimation by Request
      17,640 SF

      High At S Meridian St

      COMMERCIAL (GENERAL) • 17,640 SF
      High At S Meridian St, Redkey, IN 47373
      View Details
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    1 Meridian St
    Redkey, IN 47373-9342
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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