Turnkey Restaurant and
For Sale
$1,500,000
6247 Kennedy Ave, Hammond, IN 46323
Own an operating restaurant plus a fully leased bar on a double lot.
Property Size4,366 SF
Lot Size0.62 Acres
Price / SF$343.56
Days on Market504
Property Features for 6247 Kennedy Ave
General Information
Standard status
Active
Size
4,366 SF
Lot size
0.62 Acres
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$6,368
Building Details
Tenancy
Multi
Listing Agency:
McColly Real Estate
(219) 322-5508
Listed By:
Anthony Christopher · License #RB22001074
(708) 715-6193
Source:
Exprealty
Added: Jun 12, 2025
Changed: Oct 26
Last Checked: Oct 26 at 8:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of McColly Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This for-sale property is a double-lot site totaling approximately 0.62 acres and includes an operating restaurant and a separate leased bar. The sale includes two tenants: the owner-occupied Latin Bliss Restaurant and Kenwood Tap, which is fully leased. The combined setup is designed for hands-on operation with an added stream of rental income from the bar.
The property is located at 6247 Kennedy Ave, Hammond, IN, in a high-visibility area. The site is approximately 4,366 square feet as listed, and it is presented as a turnkey opportunity with the existing tenants included in the sale.
The property is located at 6247 Kennedy Ave, Hammond, IN, in a high-visibility area. The site is approximately 4,366 square feet as listed, and it is presented as a turnkey opportunity with the existing tenants included in the sale.
Key Highlights
- .62‑acre double lot with an operating, income‑generating restaurant and bar included in the sale
- Two tenants: Latin Bliss Restaurant (owner‑occupied) and Kenwood Tap (fully leased)
- Latin Bliss Restaurant is an operating venue with a loyal customer base
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,317
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,706,340
$1.7M
Cap Rate 7%
$1,218,814
$1.2M
Cap Rate 9%
$947,967
$948.0K
Market Conditions
NOI Build-Up for 4,366 SF
Gross rent
$117.9K $27.00/SF
− Vacancy
−$4.1K −$0.95/SF
EGI
$113.8K $26.06/SF
− OpEx
−$28.4K −$6.51/SF
NOI
$85.3K $19.54/SF
Area
Lake County, IN
Vacancy
3.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,706,340
Cap Rate 7%
$1,218,814
Cap Rate 9%
$947,967
Alternative Uses
Best Use
Specialty Retail
$1.22M
$1.07M – $1.42M
NOI $85,317 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
250
Businesses Nearby
16k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 61%
Home Improvements & Furnishings 21%
Dining 18%
Marathon
Shops & Services
7,425 visits/mo
0.3 miles
Lindys Ace Hardware
Home Improvements & Furnishings
3,409 visits/mo
0.1 miles
Dairy Queen
Dining
2,913 visits/mo
0.5 miles
Old National Bank
Shops & Services
2,477 visits/mo
0.4 miles
Demographics for 46323, IN
22,510
Population
8,955
Households
2.5
Avg Household Size
35
Median Age
15%
College-Educated
85%
High-School Grad
6.2 sq mi
ZIP Area
3,631
Density / Sq Mi
$56,906
Median Household Income
$35,292
Median Earnings
$1,189
Median Rent
$149,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Own an operating restaurant plus a fully leased bar on a double lot.
Where is this conventional restaurant located?
The property is located at 6247 Kennedy Ave Hammond, IN.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: .62‑acre double lot with an operating, income‑generating restaurant and bar included in the sale; Two tenants: Latin Bliss Restaurant (owner‑occupied) and Kenwood Tap (fully leased); Latin Bliss Restaurant is an operating venue with a loyal customer base
