2700 Colony AveColumbia City, IN 46725

Property Details for 2700 Colony Ave

Year built

1977

Construction

WOOD

Lot size

1.04 AC

Property size (Sq ft)

3,200 SF

Property type

Turn key restaurants

APN

92-03-12-000-312.000-011

APU

920312000312000011

Description

This exceptional restaurant property, located at 2700 E Colony Avenue in Columbia City, Indiana, presents a unique investment opportunity. Situated on a 1.045-acre lot, this 45,520-square-foot hospitality establishment boasts numerous recent updates. The property features a substantial concrete patio, perfect for outdoor dining, and custom bar tops adding to its high-quality aesthetic. The building is offered as a turnkey operation, ready for immediate occupancy by a new owner. The convenient location just off Tri-Lakes outside of Columbia City ensures high visibility and accessibility. The sale is an "AS-IS" transaction. This property is zoned for commercial use and is located in Whitley County, Indiana, with a zip code of 46725. The property's coordinates are 41.2418322 latitude and -85.4397145 longitude. This is an excellent chance to acquire a well-maintained, updated restaurant with significant potential for continued success. The asking price for this remarkable property is $425,000. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $659,059

  6.5%

  $608,362

  7%

  $564,908

• Comparable approach

  Method

  Valuation

  Relative Method

  $219,050

  Geo Method

  $65,528.30

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,153,490

  Mixed-Use / Specialty

  $619,479

  Hospitality / Lodging

  $471,790

  Office

  $629,637

  Institutional / Educational

  $648,757

  Residential Income

  $759,046

  Multifamily

  $836,704

  Automotive / Energy

  $556,078

  Parking / Income-Based Land

  $178,769

  Restaurant / Food Service

  $350,551

  Healthcare / Senior Housing

  $621,640

Location Insight

City

Columbia City

County

Whitley

State

Indiana

Latitude

41.2417

Longitude

-85.4396

CBSA code

23060

CBSA name

FORT WAYNE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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