1 Meridian StRedkey, IN 47373

Property Details for 1 Meridian St

Year built

1899

Construction

WOOD

Lot size

0.58 AC

Property size (Sq ft)

19,500 SF

Property type

Commercial real estate

APN

38-09-24-202-001.000-031

APU

380924202001000031

Description

This exceptional investment opportunity in Redkey, Indiana, presents a fully operational bar and grill, "Val's," complete with a Type 210 3-way Liquor License, catering and carry-out endorsement, gaming license, and cigarette license (buyer to apply). The sale includes all restaurant equipment, a security system, and a safe. Val's Bar and Grill boasts a loyal clientele, hosting weekly Queen of Hearts drawings, and serving as a regular stop for poker runs. The property also features four studio apartments, one one-bedroom apartment, and a large garage currently rented for storage, generating supplemental income. The building's significant untapped potential includes three additional storefronts and five more apartments ready for renovation and lease-up. The 0.58-acre lot provides ample space. Note that certain items such as the ATM, pool table, games, jukebox, and Coke cooler are owned by a third party and are not included in the sale. The seller is offering up to 30 days of assistance with the transition to new ownership and is open to the possibility of the current employees continuing their employment under the new owner. This property offers a unique blend of established income streams and significant upside potential for a savvy investor. Located in the heart of Redkey's revitalized downtown area, this property benefits from the collaborative spirit of the local business community.

• Alternative Use

  Use

  Valuation

  Residential

  $3,536,050

  Hospitality

  $3,239,002

  Educational

  $2,694,812

  Medical

  $2,787,491

  Retail

  $4,191,930

Location Insight

City

Redkey

County

Jay

State

Indiana

Latitude

40.3505

Longitude

-85.1494

Property Tax & Assessments

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