5900 Miller Ave - Restaurant FOR SALE


Gary, IN 46403- Miller
$850,000 USD
773-983-1904
5900 Miller Ave, Gary, IN for Sale
$850,000 USD
Restaurant - FOR SALE
1/27
null | 6% Cap Rate

5900 Miller Ave
Gary, IN 46403
Miller


HIGHLIGHTS

  • Potential for Growth (TIF and Opportunity Zone at the heart of major infrastructure development)
  • Tourist Destination
  • Close to beach, public transportation and expressways

OVERVIEW

Turnkey Restaurant and Bar with a 3-way liquor license with carryout located at the best intersection of Downtown Miller Beach! Located within a designated TIF District/Opportunity Zone and just minutes from the beach, expressways, bike paths and The South Shore Line, this completely rebuilt restaurant with all new mechanicals, a large bifold window and private parking for more than 30 has it all: fully equipped kitchen with a 12-foot hood, complete bar with seating for 10 and 3 TVs, furnished dining room with seating for more than 70, large basement with 2 walk-in coolers/freezers and a staff restroom and much more. Currently leased NNN at a 6 percent cap rate as is. Potential to increase profits with expanded hours, bar service and marketing/advertising. Further potential in developing the vacant lot. Was once a strip mall. Miller Beach is an ever-improving community located within the National Lakeshore that is poised for radical growth. Homes on the water sell near or well-above 1million AND the area is one of the top tourist and lodging destinations within the Indiana Dunes. Lead by an active and ambitious administration, the community has also made an attractive offer for the Chicago Bears stadium. Please do not disturb the restaurant. Serious and qualified inquiries only.

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$239 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Bar, Freestanding, undefined

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1936

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

Commercial/Retail&Vacant

APN/PARCEL ID

45-09-06-404-016.000-004

ASK ABOUT THIS PROPERTY

Sam GeraciIncoast Homes LlcMore Info
773-983-1904

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Sam GeraciIncoast Homes LlcMore Info
773-983-1904

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.