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    OFF-MARKET
    Turn key restaurants

    740 81st Ave, Merrillville, IN 46410-5537

    7,607 SF 1.93 ac lot Built 2002
    Entity Owned ~ Est. High Equity
    Property ID
    US31-3366502
    Property summary
    AI-generated overview

    This exceptional Merrillville, Indiana restaurant property presents a unique investment opportunity. Located at 740 East 81st Avenue, this 7,607 square foot former restaurant sits on a spacious 1.93-acre lot and boasts ample parking with approximately 150 spaces. The property features multiple seating areas, including a bar and a patio, offering versatile space for a variety of culinary concepts. The building is ready for immediate occupancy and could easily be adapted to suit a new restaurant's needs. Its strategic location offers high visibility and accessibility. A significant advantage is its adjacency to a separate, larger development opportunity encompassing over 40 acres, presenting potential for synergistic expansion or collaborative ventures. The asking price is $2,500,000, translating to $328.64 per square foot. This property is ideally suited for an experienced restaurateur seeking a turnkey operation or a developer looking to capitalize on the combined potential of the restaurant and the adjacent land. The property's size, location, and potential for expansion make it a compelling investment in a thriving market. The 46410 zip code offers excellent access to major transportation routes and a strong local customer base. This is a rare opportunity to acquire a substantial restaurant property with significant upside potential.

    Property profile
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Year built 2002
    Construction WOOD
    Total area 7,607 SF
    Lot 1.93 ac (83,853 SF)
    APN 45-12-22-177-003.000-030
    UPID US31-3366502
    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
    • Old Chicago Restaurant Restaurant
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Dev H27 LLC
    Dev H27 LLC
    since 2025
    5 recorded transactions
    2025
    $2.5M
    2019
    2018
    2008
    2008
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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