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Commercial Building Auction in Merrillville Indiana

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Live On-Site Auction

Tuesday, April 11
10:00 AM (CT)

Preview

Wednesday, March 29
11:00 AM – 1:00 PM (CT)

Auction Details

Absolute Auction of an 11,746 SF commercial building with basement on 1.7 AC. Great for restaurant, event venue, multi-tenant offices. Excellent visibility on high-traffic Broadway; 1.25 AC parking lot. This property is located at 7706 Broadway Avenue in Merrillville, IN and is zoned C-4E (Commercial Entertainment District).

Also selling former “The Patio” kitchen, restaurant and catering equipment.

Address   7706 Broadway, Merrillville, IN 46410
Zoning   C-4E, Commercial Entertainment District
Parcel Number   45-12-21-226-019.000-030 | 45-12-21-226-004.000-030
Cause Number   45C01-1510-MF-00212
Lot Size   1.729 AC (Parcel A: 1.229 | Parcel B: 0.50)
Frontage Area   150′ along Broadway
Location   On high-traffic Broadway, less than 1 mile from I-65
Traffic Counts   VPD: 16,110
Building Size   11,746 SF, plus 2,400 SF unfinished basement
Layout   Currently divided into a entry foyer, restaurant dining room, bar/lounge, 
    two restrooms, private office, large kitchen, prep and storage area, walk-in units,
    Entire banquet facility can be divided into three separate spaces. Largest banquet
    area has second rear entrance. Partial unfinished basement for storage.
Finishes    
Walls   Drywall, vinyl wall fabric, kitchen paneling
Floors   Carpet, quarry tile and wood parquet dance floors
Ceilings   Suspended acoustic ceiling panels; painted drywall
Restrooms   Updated! Men’s: 3 stalls; 3 urinals; 3 sinks | Women’s: 5 stalls; 3 sinks 
Construction Type   Poured concrete footings & foundation walls; poured concrete floor slab and
    precast concrete panels over the basement area
Exterior Walls   Dryvit with a face brick accent
Roof Type   Part steel (over 1995 addition) and part rubber membrane
Utilities   All public utilities available
Year Built   Original 1973, with additions in 1986 and 1995
HVAC Type   (5) Rooftop heating & A/C units
Fire Protection   Ansul system in Kitchen
Electric   600 amp service
Clear Ceiling Height   10′ – 12′ | Eave height 12′ – 14′
Parking Lot   0.79 AC of asphalt paving striped for 230+/- spaces; needs repaved
Assessed Tax Value   $937,800 (Parcel A: $820,100 | Parcel B: $117,700)
Annual Taxes   $19,766.76 (Parcel A: $17,225.22 | Parcel B: $2,541.54)
Other Pertinent Data   Covered front & rear entrances
    Four skylights in lobby
    Coat check room
    Intercom system
    Security system
    Emergency lighting
    87 gallon Ruud water heater
Required Down Payment   $25,000 cashier’s check at auction; bring deposit to 10% within three business days
Closing Time   Within thirty days
Tax Administration   Buyer pays next installment due and payable after auction

For more information, contact
Veronica Hughes
(317) 353-1100 (Office)
(317) 430-6169 (Cell)
vhughes@keyauctioneers.com

Key Terms
10% buyers premium will be collected
Licenses: AC30900124; Seth D. Seaton (AU10900115)
Cause #: 45C01-1510-MF-00212

Documents
Map and Directions