740 81st Ave, Merrillville, IN 46410-5537
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.
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Old Chicago Restaurant Restaurant
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.