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Listing provided courtesy of INcoast Homes LLCNorthwest Indiana MLSas Distributed by MLSGrid- MLS# 836178MLS Provider

5900-5960 Miller AvenueGary, IN 46403

Commercial · 3,400 Sq. ft. | 0.43 Acres
$750,000 Active

5900-5960 Miller Avenue Overview

Time on Site:
94 days
Visits:
0

REDUCED! 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 7 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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5900-5960 Miller Avenue Facts & Features

  • Type Commercial
  • Sq. ft. 3,400
  • Price/Sq.ft. $221
  • Lot 0.43 Acres

Details

General

Income/Expenses

  • Cable TV Expense: 0
  • Other Expense: 0
  • Electric Expense: 0
  • Fuel Expense: 0
  • Gardener Expense: 0
  • Gross Income: 50000
  • Gross Scheduled Income: 60000
  • Insurance Expense: 0
  • Maintenance Expense: 0
  • Net Operating Income: 50000
  • New Taxes Expense: 0
  • Operating Expense: 0
  • Pool Expense: 0
  • Trash Expense: 0

Building Information

  • Year Built: 1936
  • Year Built Details: Completely rebuilt in 2023-2024.

Location/Region

  • County Or Parish: Lake
  • Subdivision Name: Ryans Sub
  • Township: Calumet

Tax Information

  • Tax Annual Amount: 5417
  • Tax Year: 2024

General Information

  • Listing Terms: Cash,Conventional
  • Parcel Number: 450906404016000004
  • Property Sub Type: Retail
  • Property Type: Commercial Sale
  • Special Listing Conditions: None

Interior

Building Interior

  • Building Area Source: Estimated

General Information

  • Accessibility Features: Accessible Approach with Ramp
  • Appliances: Built-In Gas Range,Stainless Steel Appliance(s),Range Hood,Refrigerator,Range,Gas Water Heater,Gas Range,Gas Cooktop
  • Building Features: Private Restrooms,Business District Location,Exposed Under Roof Ceiling(s),Exterior Lighting,Patio,Public Restrooms
  • Electric: 100 Amp Service
  • Heating: Central,Zoned,Natural Gas,Forced Air
  • Interior Features: Ceiling Fan(s),Wet Bar,Stone Counters,Recessed Lighting,Open Floorplan,High Ceilings
  • Living Area: 3400
  • Security Features: Carbon Monoxide Detector(s),Smoke Detector(s)

Exterior

Parking Information

  • Parking Features: Off Street,Paved,Asphalt,Alley Access,Additional Parking
  • Parking Total: 30

Lot Information

  • Additional Parcels: true
  • Lot Features: Corner Lot,Rectangular Lot,Near Public Transit,Paved,Few Trees
  • Lot Size Acres: 0.4275
  • Lot Size Source: Survey
  • Lot Size Square Feet: 18620
  • Water Source: Public

Waterfront/View

  • View: City
  • Waterfront: false

General Information

  • Exterior Features: Lighting,Rain Gutters
  • Sewer: Public Sewer
  • Utilities: Cable Connected,Water Connected,Sewer Connected,Natural Gas Connected,Electricity Connected

5900-5960 Miller Avenue Neighborhood

Community

46403 (Gary) Demographics

41
Median Age
1,244
Population Density (per sq. mile)
30%
College Educated
$37,927
Estimated Median Income
2,732
Estimated Total Home Owners
2,802
Estimated Total Renters
49% / 51%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

5900-5960 Miller Avenue Monthly Cost

$
$ %
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$
$
Randall Fowlkes
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

5900-5960 Miller Avenue Market Data

Based on the last 30 days in this zip code

$268,418
Average List Price
$146
Average Price per Square Foot
13
Properties Sold
84
Average Days on Market
48
Properties for Sale
Calculations provided by Reliance Network

5900-5960 Miller Avenue History

Date Event Value Agent
6/15/2026Source: Northwest Indiana MLS Price Reduction
$750,000 -6.2%
4/14/2026Source: Northwest Indiana MLS Price Reduction
$800,000 -5.9%
3/27/2026Source: Northwest Indiana MLS Added to Database
March 27, 2026