5900-5960 Miller Avenue Gary, IN $ 850,000
5900-5960 Miller Avenue
$ 850,000
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5900-5960 Miller Avenue

Gary, IN, 46403
$ 850,000
Bedrooms-- Baths-- Sq 3,400

Monthly Estimate*

$ 5,234

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Commercial Property for sale in Gary, IN

for $850,000. This 3,400 square foot building was built in 1936 on a lot size of 0.4275.

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.

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Commercial Active

Price

$ 850,000

Property Type

Commercial

Taxes

$ 5,417

Style

Retail

Lot Size

0.4275

Year Built

1936

Town/City

Gary

County/Region

Lake

MLS | Web ID

836178

Features
Interior
Interior Amenities Ceiling Fan(s) Wet Bar Stone Counters Recessed Lighting Open Floorplan High Ceilings
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General
Sewer Public Sewer
Heating Central Zoned Natural Gas Forced Air
Utilities Cable Connected Water Connected Sewer Connected Natural Gas Connected Electricity Connected
Appliances Built-In Gas Range Stainless Steel Appliance(s) Range Hood Refrigerator Range Gas Water Heater Gas Range Gas Cooktop
Security Features Carbon Monoxide Detector(s) Smoke Detector(s)
Year Built 1936
Electric 100 Amp Service
View City
Township Calumet
Property Subtype Retail
Tax Year 2024
Gross Income 50000
Accessibility Accessible Approach with Ramp
County Lake
Net Operating Income 50000
Insurance Expense 0
Property Type Commercial Sale
MaintenanceExpense 0
Subdivision Name Ryans Sub
Building Features Private Restrooms Business District Location Exposed Under Roof Ceiling(s) Exterior Lighting Patio Public Restrooms
Status Active
Directions Lake Street North to Miller Ave.
City Gary
Lot Size Square Feet 18620
Listing Terms Cash Conventional
Tax Annual Amount 5417
Electric Expense 0
Trash Expense 0
Standard Status Active
Total Actual Rent 50000
Taxes 0
Legal Description PT. E1/2 S.6 T.36 R.7 .24 A.
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Exterior
Exterior Amenities Lighting Rain Gutters
Parking Features Off Street Paved Asphalt Alley Access Additional Parking
Lot Features Corner Lot Rectangular Lot Near Public Transit Paved Few Trees
Water Source Public
Total Parking 30
Lot Size Acres 0.4275
Lot Size Source Survey
Waterfront Y/N N
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* Excluded Features
List By
Sam Geraci

Listing Agent

Incoast Homes Llc

Broker

samjgeraci@gmail.com

Email

Affordability Calculator

$5,685
Per Month
92%
8%
0%
Monthly Principal & Interest
$5,234
Monthly Property Taxes
$451
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
1261196 Elementary School
1261197 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
3/28/2026$850,000 Listed Price

Map


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5900-5960 Miller Avenue, Gary, IN, 46403 is a Commercial Property for sale at $850,000 with 3,400 sqft and a lot size of 0.4275. 5900-5960 Miller Avenue was built in 1936. The property's zip code is 46403 which is in Gary, IN