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Property profile & analytics
OFF-MARKET
Turn key restaurants

600 Wabash St Michigan City, IN 46360-3416

2,881 SF 0.47 ac lot Built 2003
Individually Owned 7-yr Hold Absentee Owner Free & Clear
Property ID
US31-2371708
Property summary
AI-generated overview

This exceptional 2,888 square foot restaurant, built in 2003, is located on a 0.47-acre lot at 600 Wabash St, Michigan City, IN 46360. Situated directly across from the Lighthouse Premium Outlets, this single-unit property enjoys unparalleled visibility and high foot traffic. The CBD1 zoning allows for a variety of uses. The property features a spacious dining area, a well-appointed kitchen, and a unique, grandfathered-in drive-thru window. Ample off-street parking is available for customers. The 100% occupancy rate speaks to the property's desirability. This prime location offers easy access to major highways and benefits from the proximity to Lake Michigan and the thriving Central Business District. The asking price is $1,199,000 ($415.17/sq ft). This presents a significant opportunity for restaurateurs seeking a high-visibility location with established customer traffic. The potential to add a special district liquor license further enhances the investment potential. This is a rare opportunity to acquire a well-established restaurant in a booming tourist area.

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 2003
Construction WOOD
Total area 2,881 SF
Lot 0.47 ac (20,400 SF)
APN 46-01-29-406-002.000-022
UPID US31-2371708
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
Current use
Occupant on record · Public records
  • Lighthouse Restaurant Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Maria Phyllis Atsas · 7 yrs held
Maria Phyllis Atsas
since 2019
4 recorded transactions
2019
Price N/A
2012
Price N/A
2005
Price N/A
2005
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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