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    Property profile & analytics

    101 Main St Wolcottville, IN 46795

    • Turn key restaurants
    • 4,215 SF
    • 0.44 lot acres
    For Sale
    View listing
    $599,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1933496
    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

    • Turn key restaurants

    Property Details for 101 Main St

    Year built
    1929
    Construction
    WOOD
    Lot size
    0.44 lot acres
    Property size
    4,215 SF
    Property type
    Turn key restaurants
    APN
    57-04-03-400-097.000-012
    APU
    570403400097000012

    Description

    This exceptional 4,215 square foot restaurant located at 101 S. Main St., Wolcottville, IN 46795, presents a unique investment opportunity. Built in 1929, this single-story building sits on a 0.44-acre lot (APN: 57-04-03-400-097.000-012) and is zoned B-4 - Central Business District. The property boasts a fully equipped kitchen and bar, complete with 12-foot and 4-foot exhaust hoods, a walk-in freezer, and a walk-in cooler. Recent upgrades include new carpeting and tables installed in 2023. The sale includes a valuable 3-way liquor license. This established business benefits from its convenient location near Witmer, Adams, and Sylvan Lakes. The asking price is $599,000, translating to $142.11 per square foot. The net rentable square footage is 4,215 square feet. This turnkey operation is ready for a new owner to continue its success. The property's historical charm combined with its modern amenities makes it an attractive proposition for discerning buyers. This is a rare opportunity to acquire a thriving restaurant with significant potential for growth in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $220,000
      Market price range: $220k - $559k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $405,000
      Current use
      AUTO REPAIR, GARAGE
      $335,000
      Change: -17% Conversion: Difficult
      RETAIL STORES
      $330,000
      Change: -18% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wolcottville
    County
    Noble
    State
    Indiana
    Longitude
    -85.3661
    Latitude
    41.5257
    CBSA code
    28340
    CBSA name
    KENDALLVILLE, IN MICROPOLITAN STATISTICAL AREA

    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
    $2,043
    $20,000
    $71,000
    $91,000
    -
    $20,000
    $71,000
    $91,000

    Comparable in this City

    • Value Estimation by Request
      1,456 SF

      601 County Line Rd

      RESTAURANT • 1,456 SF
      601 County Line Rd, Wolcottville, IN 46795-9647
      View Details
    • Value Estimation
      $260,000
      1,885 SF

      725 700th S

      RESTAURANT • 1,885 SF
      725 700th S, Wolcottville, IN 46795-9539
      View Details
    • Value Estimation
      $260,000
      7,808 SF

      5365 620th S

      RESTAURANT • 7,808 SF
      5365 620th S, Wolcottville, IN 46795-8813
      View Details
    • Value Estimation
      $325,000
      8,920 SF

      307 Main St

      RETAIL STORES (PERSONAL SERVICES) • 8,920 SF
      307 Main St, Wolcottville, IN 46795-9633
      View Details
    • Value Estimation
      $270,000
      1,900 SF

      6700 State Rd 9th 9

      VEHICLE SALES, RENTALS • 1,900 SF
      6700 State Rd 9th 9, Wolcottville, IN 46795-9054
      View Details
    • Value Estimation
      $315,000
      676 SF

      402 Main St

      RETAIL STORES (PERSONAL SERVICES) • 676 SF
      402 Main St, Wolcottville, IN 46795-9209
      View Details

    Similar Nearby for Sale

    • $599,000
      4,215 SF

      Wolcottville Restaurant - Prime Location

      Historic restaurant, fully equipped, profitable.
      101 Main St, Wolcottville, IN 46795
      View Details
    • $550,000
      4,215 SF

      Restaurant and Bar with Liquor

      Operating restaurant and bar with real estate and liquor license.
      101 S Main St, Wolcottville, IN 46795
      View Details
    • $179,900
      0.24 Acres

      Wolcottville Retail Building For Sale

      Retail building with recent upgrades and potential for various businesses.
      8040 E 500 S, Wolcottville, IN 46795
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    • $349,995
      Pending

      Lakefront Lot on Ski Lake

      Vacant lot on ski lake to build custom dream home.
      5685 S 940 E, Wolcottville, IN 46795
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    • $632,775
      32.45 Acres

      Wolcottville Agricultural Land with Pond

      32.45-acre property perfect for recreation, agriculture, or building.
      000 W 750 S, Wolcottville, IN 46795
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    • $98,900
      1.01 Acres

      Residential Land Near Witmer Lake

      1.01 acre residential land with utilities near Witmer Lake.
      Wolcottville, IN 46795
      View Details
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    101 Main St
    Wolcottville, IN 46795
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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