5900-5960 Miller Avenue, Gary, IN 46403
$700,000
Property Type:
Commercial Sale
Square Footage:
3,400
Lot Size (sq. ft.):
18,620
Status:
Active
Current Price:
$700,000
List Date:
3/28/2026
Last Modified:
9/15/2026
Listing Details MLS# 836178
General Property Information
- Number Of Units Total
- Yes
- Living Area
- 3400
- Building Area Source
- Estimated
- Accessibility Features YN
- Yes
- Year Built
- 1936
- Year Built Details
- Completely rebuilt in 2023-2024.
- Parking Total
- 30
- Lot Size Acres
- 0.4275
- Lot Size Square Feet
- 18620
- Lot Size Source
- Survey
- Waterfront YN
- No
- Basement YN
- Yes
Property Features
Accessibility Features:
Accessible Approach with Ramp
Appliances:
Built-In Gas Range; Gas Cooktop; Gas Range; Gas Water Heater; Range; Range Hood; Refrigerator; Stainless Steel Appliance(s)
Basement:
Bath/Stubbed; Interior Entry; Storage Space
Building Features:
Business District Location; Exposed Under Roof Ceiling(s); Exterior Lighting; Patio; Private Restrooms; Public Restrooms
Business Type:
Bar/Tavern/Lounge; Restaurant
Construction Materials:
Brick; Stone; Other
Cooling:
Ceiling Fan(s); Central Air; Zoned
Current Use:
Commercial; Investment
Electric:
100 Amp Service
Exterior Features:
Lighting; Rain Gutters
Flooring:
Concrete
Heating:
Central; Forced Air; Natural Gas; Zoned
Interior Features:
Ceiling Fan(s); High Ceilings; Open Floorplan; Recessed Lighting; Stone Counters; Wet Bar
Listing Terms:
Cash; Conventional
Lot Features:
Corner Lot; Few Trees; Near Public Transit; Paved; Rectangular Lot
Owner Pays:
Roof Maintenance
Parking Features:
Additional Parking; Alley Access; Asphalt; Off Street; Paved
Possession:
Negotiable
Possible Use:
Commercial; Investment
Rail Availability:
None
Roof:
Other
Security Features:
Carbon Monoxide Detector(s); Smoke Detector(s)
Sewer:
Public Sewer
Special Licenses:
Beer/Wine; Liquor
Special Listing Conditions:
None
Tenant Pays:
All Utilities; Cable TV; Common Area Maintenance; Electricity; Exterior Maintenance; Gas; Grounds Care; Hot Water; HVAC Maintenance; Insurance; Janitorial Service; Other Tax; Pest Control; Repairs; Security; Sewer; Snow Removal; Taxes; Telephone; Trash Collection; Water; See Remarks
Utilities:
Cable Connected; Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected
Water Source:
Public
Contract Information
- Auction YN
- No
- Original List Price
- 850000
- Property Sub Type
- Retail
- Listing Agreement
- Exclusive Right To Sell
- Owner Name
- Lake Street Development LLC
- Occupant Type
- Tenant
- Occupant Name
- Del's Crepes and Pancakes
Location Tax and Legal
- Street Number
- 5900-5960
- Street Name
- Miller
- Street Suffix
- Avenue
- County
- Lake
- State
- IN
- Postal Code
- 46403
- Subdivision Name
- Ryans Sub
Remarks and Miscellaneous
- Public Remarks
- 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 an 8 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.
Status Change Information
- Major Change Timestamp
- 2026-09-15T14:15:39Z
- Major Change Type
- Price Reduced
- Price Change Timestamp
- 2026-09-15T14:15:39Z
- Status Change Timestamp
- 2026-03-28
More Information
Exemption Information
- Exemption YN
- No
Income and Expenses
- Cap Rate
- 7
- Gross Income
- 50000
- Gross Scheduled Income
- 60000
- Net Operating Income
- 50000
- Total Actual Rent
- 50000
Showing Requirements
- Showing Instructions
- Use Showingtime. Serious inquiries only.
Listing Office:
INcoast Homes LLC
Last Updated: September - 15 - 2026
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