5900-5960 Miller Avenue, Gary, IN 46403 (MLS# 836178)

5900-5960 Miller Avenue, Gary, IN 46403

$800,000

Property Type: Commercial Sale Square Footage: 3,400 Lot Size (sq. ft.): 18,620 Status: Active

Current Price: $800,000 List Date: 3/28/2026 Last Modified: 4/14/2026

Overview

Description

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 1m ... (Read more)

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 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.

Status Change Information

Major Change Timestamp: 2026-04-14T17:16:10Z
Major Change Type: Price Reduced
Price Change Timestamp: 2026-04-14T17:16:10Z
Status Change Timestamp: 2026-03-28

More Information

Exemption Information

Exemption YN: No

Income and Expenses

Cap Rate: 6
Gross Income: 50000
Gross Scheduled Income: 60000
Net Operating Income: 50000
Total Actual Rent: 50000
Cable TV Expense: 0
Electric Expense: 0
Fuel Expense: 0
Gardener Expense: 0
Insurance Expense: 0
Licenses Expense: 0
Maintenance Expense: 0
Manager Expense: 0
New Taxes Expense: 0
Operating Expense: 0
Other Expense: 0
Pest Control Expense: 0
Pool Expense: 0
Professional Management Expense: 0
Sewer Expense: 0
Supplies Expense: 0
Trash Expense: 0
Water Expense: 0

Showing Requirements

Showing Instructions: Use Showingtime. Serious inquiries only.

Location, Tax, and Legal

Tax Annual Amount: 5417
Tax Year: 2024
Tax Legal Description: PT. E1/2 S.6 T.36 R.7 .24 A.
Parcel Number: 450906404016000004
Additional Parcels YN: Yes
Additional Parcels Description: 45-09-06-404-025.000-004
Township: Calumet
Directions: Lake Street North to Miller Ave.
Cross Street: Lake
Census Tract: 102.06

Accessibility Features

Accessible Approach with Ramp: Yes

Appliances

Built-In Gas Range: Yes
Gas Cooktop: Yes
Gas Range: Yes
Gas Water Heater: Yes
Range: Yes
Range Hood: Yes
Refrigerator: Yes
Stainless Steel Appliance(s): Yes

Basement

Bath/Stubbed: Yes
Interior Entry: Yes
Storage Space: Yes

Construction Materials

Brick: Yes
Stone: Yes
Other: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes
Zoned: Yes

Electric

100 Amp Service: Yes

Exterior Features

Lighting: Yes
Rain Gutters: Yes

Flooring

Concrete: Yes

Heating

Central: Yes
Forced Air: Yes
Natural Gas: Yes
Zoned: Yes

Interior Features

Ceiling Fan(s): Yes
High Ceilings: Yes
Open Floorplan: Yes
Recessed Lighting: Yes
Stone Counters: Yes
Wet Bar: Yes

Listing Terms

Cash: Yes
Conventional: Yes

Lot Features

Corner Lot: Yes
Few Trees: Yes
Near Public Transit: Yes
Paved: Yes
Rectangular Lot: Yes

Parking Features

Additional Parking: Yes
Alley Access: Yes
Asphalt: Yes
Off Street: Yes
Paved: Yes

Possession

Negotiable: Yes

Roof

Other: Yes

Security Features

Carbon Monoxide Detector(s): Yes
Smoke Detector(s): Yes

Sewer

Public Sewer: Yes

Special Listing Conditions

None: Yes

Utilities

Cable Connected: Yes
Electricity Connected: Yes
Natural Gas Connected: Yes
Sewer Connected: Yes
Water Connected: Yes

View

City: Yes

Water Source

Public: Yes

Owner Pays

Roof Maintenance: Yes

Tenant Pays

All Utilities: Yes
Cable TV: Yes
Common Area Maintenance: Yes
Electricity: Yes
Exterior Maintenance: Yes
Gas: Yes
Grounds Care: Yes
Hot Water: Yes
HVAC Maintenance: Yes
Insurance: Yes
Janitorial Service: Yes
Other Tax: Yes
Pest Control: Yes
Repairs: Yes
Security: Yes
Sewer: Yes
Snow Removal: Yes
Taxes: Yes
Telephone: Yes
Trash Collection: Yes
Water: Yes
See Remarks: Yes

Current Use

Commercial: Yes
Investment: Yes

Possible Use

Commercial: Yes
Investment: Yes

Building Features

Business District Location: Yes
Exposed Under Roof Ceiling(s): Yes
Exterior Lighting: Yes
Patio: Yes
Private Restrooms: Yes
Public Restrooms: Yes

Business Type

Bar/Tavern/Lounge: Yes
Restaurant: Yes

Rail Availability

None: Yes

Special Licenses

Beer/Wine: Yes
Liquor: Yes

Listing Office: INcoast Homes LLC

Last Updated: April - 14 - 2026

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