Former Ryan's Steakhouse

Sold Retail-Commercial
Catylist Listing ID: 29983397
Property Subtypes: Restaurant, Tavern/Bar/Nightclub
Property Type: Retail-Commercial
Archived As: Sold

Overview / Comments

The former Ryan's Steak House. The building is offered with all the furniture and kitchen equipment. Seats 400 total. Has 2 private rooms that will seat 50-75 each and the main restaurant has 2 fully equipped buffet lines. There is over 1 acre of paved parking.
The property can be opened as a restaurant or could be re-purposed multiple office use, day care facility, place of worship or possibly and athletic/fitness location.
This is either a user opportunity as a restaurant or an investor looking for a change of use.

Financials

Finance Data Year 2013
Real Estate Taxes - Annual($) $46,376 (Annual)
Tax Value Land $487,100
Tax Value Improvements $1,155,900
Assessed Value - Total($) $1,643,000 (Annual)

Additional Details

Nearest MSA: Michigan City-La Porte
County: La Porte
Submarket/Township: Coolspring
Submarket Type: Other
Taxing Authority: La Porte County
Tax ID/APN: 46-05-08-429-009.000-009
Zoning: B-2 BUSINESS
Retail Clientele: General, Family, Tourist
Property Located Between: US 20 and I-94 Freeway
Property Visibility: Excellent
Largest Nearby Street: Franklin Street
Feet of Frontage: 210
Highway Access: I-94 Freeway 1/4 mile South
Airports: Michigan City Regional Airport just 2 miles away.
Site Description: Almost 2 acre site with over an acre of paved parking. Access from Franklin St is shared with Olive Garden Restaurant. Excellent visibility from Franklin to the elevated site. Large prominent Billboard sign.
Area Description: Located on the very busy Commercial Corridor directly North of the I-94 Freeway exit. Heavy retail presence in a 1/4 mile radius from subject property.
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 2003
Roof Type: Gable
Construction/Siding: Wood Frame, Wood Siding
Parking Type: Surface
Parking Description: Paved and striped
Sprinklers: Wet
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned
Legal Description: TOWNE CENTER WEST SD LT 2

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,744 27,184 42,713
Median Age: 31.61 38.6 39.66
Households: 1,276 10,441 16,624

Contact

Photograph of Listing Agent

Robert Macmahon

RE/MAX COMMERCIAL PROPERTY SOLUTIONS ICREX Member

Source

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