Highly visible, Mixed-Use, Six-Unit with consisted income. Located on Broadway in Gary, this established investment property offers a unique combination of 3 main floor commercial units, and 3 residential apartments above. There is a separately rented two-car garage creating seven income streams! This building has been the home of Gary's iconic Playboy Barbershop for the past 43 years. The three main floor business tenants have forced air heating with central air conditioning. Each business owner pays for their own gas, electric and water. Tenants include a barber shop, a woman's hair salon and a financial planner. The upper level includes three residential apartments. There are two units with two bedrooms and one unit with one bedroom. Each residential tenant is responsible for providing their own appliances and window air conditioning units. Each residential tenants pays for their own cooking gas, and electric. These units are boiler heated, with the expense of heat heating gas and water provided by the owner. The two car garage is also rented separately, creating a seventh income stream. New windows were installed on the second floor in 2024, the roof was replaced in 2021, the boiler was replaced in 2016. Playboy Barbershop will be moving with the sale of the building, but may be willing to sell some existing equipment to a new tenant or purchaser. This property offers an excellent opportunity for an investor seeking proven cash flow with significant upside potential as rents ...
+ Read More| Listing Id: | 846244 |
|---|---|
| List Price: | $399,900 |
| Property Type: | Commercial Sale |
| Property Sub Type: | Mixed Use |
| Status: | Active |
| Living Area: | 9,000 |
| Tax Annual Amount: | $5,788 |
| Lot Size Square Feet: | 8,712 |
| Lot Size Acres: | 0.2 |
| Waterfront?: | No |
| City: | Gary |
| County Or Parish: | Lake |
| Subdivision Name: | Broadway Realty & Inv Cos 01 |
| Postal Code: | 46409 |
| Year Built: | 1950 |
| Appliances: | Water Heater |
| Elementary School: | Glen Park Academy |
| Heating: | Baseboard, Other, Natural Gas, Hot Water, Forced Air, Central |
| High School: | West Side Leadership Academy |
| Interior Features: | Entrance Foyer |
| Listing Contract Date: | 2026-10-02 |
| Lot Features: | Near Public Transit, Rectangular Lot |
| Status: | Active |
| Parcel Number: | 450834105008000004 |
| Parking Features: | Detached, Garage Faces Side, On Street, Gravel, Off Street |
| Directions: | Rt 30 to Broadway, north to address. |
| Township: | Calumet |
| State Or Province: | IN |
| Electric: | 200+ Amp Service, Circuit Breakers |
| High School District: | Gary |
| Exterior Features: | Lighting, Storage |
| Tax Year: | 2025 |
| Listing Terms: | Cash, Conventional |
| Sewer Yn: | Public Sewer |
| Zoning Description: | Commercial |
| Building Area Source: | Assessor |
| Insurance Expense: | $5,280 |
| Maintenance Expense: | $3,600 |
| Laundry Features: | Gas Dryer Hookup |
| Gross Scheduled Income: | $51,300 |
| Exclusions: | None |
| Gross Income: | $51,300 |
| Lot Size Source: | Assessor |
| Security Features: | Carbon Monoxide Detector(s), Smoke Detector(s) |
| Net Operating Income: | $27,631 |
| Operating Expense: | $23,679 |
| Water Source: | Public |
| Parking Total: | 12 |
| Owner Pays: | Common Area Maintenance, Taxes, Snow Removal, Repairs, Insurance, HVAC Maintenance, Exterior Maintenance |
| Total Actual Rent: | $51,300 |
| Special Listing Conditions: | None |
| Utilities: | Electricity Connected, Water Connected, Sewer Connected, Natural Gas Connected |
| View: | City, Neighborhood |
| Year Built Details: | Built in 1950. Barber Shop location since 1983. Hair Salon and Financial Tenants established for years. |
| Building Features: | High Speed Internet Avail, Mixed Use, Acoustical Ceiling(s), Private Restrooms, Multi Tenant, Lunch Room |
| Absolute Longitude: | 87.335947 |
| Accessibility Features Yn: | No |
| Auction Yn: | No |
| Building Dimensions: | 60' x 50' |
| Census Tract: | 127.00 |
| Clear Ceiling Height: | 8 foot |
| Co List Office Address: | 21 E. US Highway 30, Schererville, IN 46375 |
| Cranes: | 0 |
| Earnest Money Deposit: | 5000.0000 |
| Exemption Yn: | No |
| List Number Main: | 846244 |
| List Number Prefix: | 00 |
| List Office Address: | 21 E. US Highway 30, Schererville, IN 46375 |
| Number Of Offices: | 3 |
| Office Sq Ft: | 3000 |
| Overhead Doors: | 1 |
| Rail Availability: | None |
| Vow Entire Listing Display: | 1 |
| Business Type: | Mixed, Retail, Professional/Office |
| Basement: | Full, Unfinished, Storage Space, Sump Pump |
| Special Licenses: | Other |
| Basement Yn: | Yes |
Listing Courtesy of: Realty Executives Premier
Listing Agent: William Kornblum
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Property Last Updated: October 08, 2026 04:04 PM - CT
