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230 Main St 7,747 SF Specialty Building Offered at $2,000,000 at a 7.75% Cap Rate in Hobart, IN 46342
Investment Highlights
- Operating concert venue
- Operating bar with a kitchen
Executive Summary
230 Main Street in Hobart, Indiana offers a unique opportunity to acquire a fully built-out, turnkey entertainment venue with strong identity and immediate operational capability in the heart of a revitalized downtown district. Home to the historic Hobart Art Theater, this ±14,000–15,000 SF property is configured as a live music and event venue with approximately 525-person capacity, featuring a professional stage, sound and lighting systems, seating, open floor layout, full-service bar, and commercial kitchen. The asset is ideally positioned for a wide range of uses including live entertainment, private events, restaurant and bar operations, or experiential redevelopment concepts. Located within walking distance to local restaurants, bars, and Lake George, and just minutes from I-65, the property benefits from strong accessibility and regional draw, including the greater Chicago metropolitan area less than an hour away. The surrounding population base exceeds 2.5 million within a 30-mile radius, supporting continued demand for entertainment and hospitality uses. With limited competition in the mid-size venue category and increasing demand for experience-driven real estate, this property presents a rare opportunity for an owner-user, investor, or operator to acquire a distinctive asset with both immediate usability and long-term upside potential. Offered at $2,000,000.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,000,000 | Building Class | C |
| Price Per SF | $258.16 | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 7,747 SF |
| Cap Rate | 7.75% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 1940 |
| Property Subtype | Movie/Radio/TV Studio | ||
| Zoning | C - Commercial | ||
| Price | $2,000,000 |
| Price Per SF | $258.16 |
| Sale Type | Investment |
| Cap Rate | 7.75% |
| Property Type | Specialty |
| Property Subtype | Movie/Radio/TV Studio |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 7,747 SF |
| No. Stories | 1 |
| Year Built | 1940 |
| Zoning | C - Commercial |
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Walk Score®
Very Walkable (74)
Property Taxes
| Parcel Number | 45-09-32-152-026.000-018 | Total Assessment | $330,100 |
| Land Assessment | $31,800 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $298,300 | Tax Year | 2025 |
Property Taxes
Parcel Number
45-09-32-152-026.000-018
Land Assessment
$31,800
Improvements Assessment
$298,300
Total Assessment
$330,100
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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230 Main St
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