Log In/Sign Up
Your email has been sent.
5900 Miller Ave 3,560 SF Retail Building Gary, IN 46403 $1,177,454 CAD ($330.75 CAD/SF) 6% Cap Rate
Investment Highlights
- Potential for Growth (TIF and Opportunity Zone at the heart of major infrastructure development)
- Close to beach, public transportation and expressways
- Tourist Destination
Executive Summary
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.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$70,647
|
$19.84
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $70,647 |
| Annual Per SF | $19.84 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
3,560 SF
Building Class
C
Year Built/Renovated
1936/2023
Price
$1,177,454 CAD
Price Per SF
$330.75 CAD
Cap Rate
6%
NOI
$70,647 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
0.42 AC
Opportunity Zone
Yes
Zoning
Commercial/Retail&Vacant - Commercial/Retail/Restaurant and Vacant Lot
Parking
30 Spaces (8.42 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Pylon Sign
- Restaurant
- Monument Signage
- Smoke Detector
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Del's Crepes and Pancakes
- -
- 3,500 SF
- -
- Triple Net
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Del's Crepes and Pancakes | - | 3,500 SF | - | Triple Net | - |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Good public transit
60/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 45-09-06-404-016.000-004 | Improvements Assessment | $232,166 CAD |
| Land Assessment | $18,285 CAD | Total Assessment | $250,451 CAD |
Property Taxes
Parcel Number
45-09-06-404-016.000-004
Land Assessment
$18,285 CAD
Improvements Assessment
$232,166 CAD
Total Assessment
$250,451 CAD
1 of 28
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Incoast Homes Llc
5900 Miller Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.