Retail Space with Open
For Sale
$915,000
Pending
2620 E 165th Street, Hammond, IN 46323
Commercial Sale, Hammond, IN
Property Size8,656 SF
Lot Size0.43 Acres
Days on Market197
Property Features for 2620 E 165th Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Parking
14
Interior features
Ceiling Fan(s), Open Floorplan, High Ceilings
Exterior features
Lighting
Subdivision
Kaplans Turner-Meyn Park
Directions
Located on 165th St in Hammond, just east of Indianapolis Blvd (US-41) and west of Calumet Ave. Property is on the north side of the street.
Standard status
Pending
APN
450709126004000023
Size
8,656 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
KAPLAN TURNER MEYN PARK ALL LOTS 1 TO 6 BL.4
Tax Annual Amount
9692
Legal Description
KAPLAN TURNER MEYN PARK ALL LOTS 1 TO 6 BL.4
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Water source
Public
Building Details
Year built
1966
Listing Agency:
Realest.com
(219) 808-1520
Listed By:
Joshua Austgen
(219) 293-1657
Added: Mar 25
Changed: Sep 5
Last Checked: Oct 7 at 10:06AM
MLS# 835999
Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This retail space contains 8,656 square feet on a 0.431-acre site. Built in 1966, the property has an open floorplan, high ceilings, ceiling fans, central heating, exterior lighting, and ample on-site parking. Water is available through the public system, with public sewer service in place.
The property is located on E 165th Street in Hammond, Indiana, near major roadways, restaurants, and established businesses. Its layout and existing building features support a range of commercial operations, including retail, office, medical, and service-based uses as identified for the property.
The property is located on E 165th Street in Hammond, Indiana, near major roadways, restaurants, and established businesses. Its layout and existing building features support a range of commercial operations, including retail, office, medical, and service-based uses as identified for the property.
Key Highlights
- 8,656‑square‑foot retail space on a 0.431‑acre site
- Open floorplan with high ceilings
- Ample on‑site parking for customers and employees
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,413
Cap Rate
9.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,668,260
$1.7M
Cap Rate 7%
$1,191,614
$1.2M
Cap Rate 9%
$926,811
$926.8K
Market Conditions
NOI Build-Up for 8,656 SF
Gross rent
$124.6K $14.40/SF
− Vacancy
−$5.5K −$0.63/SF
EGI
$119.2K $13.77/SF
− OpEx
−$35.7K −$4.13/SF
NOI
$83.4K $9.64/SF
Area
Lake County, IN
Vacancy
4.40%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,668,260
Cap Rate 7%
$1,191,614
Cap Rate 9%
$926,811
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.39M
NOI $83,413 @ 7.0% cap · market cap 9.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.42M
$2.11M – $2.82M
NOI $169,149 @ 7.0% cap · market cap 18.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
445
Businesses Nearby
107k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Groceries 31%
Shops & Services 31%
Home Improvements & Furnishings 3%
Strack & Van Til
Groceries
33,307 visits/mo
0.3 miles
Burger King
Dining
19,460 visits/mo
0.4 miles
Chase Bank
Shops & Services
14,962 visits/mo
0.4 miles
KFC
Dining
8,272 visits/mo
0.4 miles
Dollar General
Shops & Services
7,894 visits/mo
0.3 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Retail space - Open layout with high ceilings, central heating, public water and sewer, and ample on-site parking.
Where is this retail space located?
The property is located at 2620 E 165th Street Hammond, IN.
What is the asking price?
The asking price for this property is $915,000.
What are key features of this property?
This property features: 8,656‑square‑foot retail space on a 0.431‑acre site; Open floorplan with high ceilings; Ample on‑site parking for customers and employees
