850 Main StPalmyra, IN 47164

Property Details for 850 Main St

Year built

1982

Construction

WOOD

Lot size

0.48 AC

Property size (Sq ft)

1,992 SF

Property type

Turn key restaurants

APN

31-03-19-428-006.000-014

APU

310319428006000014

Description

This exceptional business opportunity encompasses a fully equipped restaurant situated on two parcels totaling 0.48 acres in Palmyra, Indiana, at 850 & 885 Main Street NE. The sale includes all existing equipment, fixtures, and furniture, ensuring a seamless transition for a new owner. Key features include a walk-in freezer and refrigerators, three double pizza ovens, two gas fryers, a gas grill, and a three-bay sink. The restaurant boasts ample seating for over 50 patrons, complemented by a covered outdoor deck. This turnkey operation is ready for immediate use, allowing a new owner to implement their vision and capitalize on the existing infrastructure. The sale also includes two additional adjacent parcels providing ample parking. The property is being sold "AS IS," reflecting its current operational state and providing an opportunity for immediate ownership. The asking price is $325,000. This presents a unique chance to acquire an established restaurant with significant potential in a desirable location. The property's size and existing infrastructure offer considerable flexibility for a variety of culinary concepts. The inclusion of additional parking lots enhances the overall appeal and functionality of the business. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $448,489

  6.5%

  $413,990

  7%

  $384,419

• Comparable approach

  Method

  Valuation

  Relative Method

  $432,108

  Geo Method

  $432,108

• Alternative Use

  Use

  Valuation

  Residential

  $349,216

  Hospitality

  $319,880

  Educational

  $266,136

  Medical

  $275,289

  Retail

  $413,990

Location Insight

City

Palmyra

County

Harrison

State

Indiana

Latitude

38.4076

Longitude

-86.1081

CBSA code

31140

CBSA name

LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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