6405 Kennedy Ave Hammond, IN 46323

This exceptional mixed-use property, Porter's Tap, presents a unique investment opportunity in Hammond, Indiana. Located at 6405 Kennedy Ave, this 3,724 square foot building sits on an 8,668 square foot lot and boasts a prime location at a stoplight corner. Built in 1946 and extensively renovated in 2022, the property includes a thriving tavern with a fully equipped kitchen and a 3-way liquor license. The tavern's business equipment is included in the sale. Additionally, the building features two apartments: a four-bedroom, two-bathroom unit and a one-bedroom unit, currently rented month-to-month. The property offers significant upside potential. The pro-forma cap rate is 10.54%, with a pro-forma NOI of $33,717. The asking price is $320,000 ($85.93/sq ft). The property has ten parking spaces and ample room for expansion, including the potential development of a beer garden and additional parking. The permitted zoning is C-4. Amusement items are leased, and a gambling machine may be included with a separate agreement. Note that the pro-forma is based on market rents for the real estate, not tavern income. This is a 100% occupied, multi-tenant property with two tenants. The building is two stories and has three total units. The current owner has operated the business for 26 years and is seeking semi-retirement.