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    429 Conkey Street Hammond, IN 46324

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    Picture of Office properties & Spaces at 429 Conkey Street, Hammond, IN
    For Sale
    $169,500

    SINGLE_FAMILY - Hammond, IN

    Type:Office
    Property size:
    1,832 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $92/SF
    Added:
    Apr 1, 2024
    Days on Market:
    751
    Last Refresh:
    Apr 21 at 12:06 pm

    Property Features for 429 Conkey Street

    General Information

    Property type
    Residential
    Property subtype
    Office
    Parking
    4
    Standard status
    Active
    APN
    450601404017000023
    Size
    1,832 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Description
    FRANKLIN ADD. L.1 BL.2
    Tax Annual Amount
    4193

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1961

    We can help!

    Listing Contact
    Maureen Jones

    Listing agent Maureen Jones License #RB18000146

    Listing office McColly Real Estate 2000 - 45th Street, Schererville, IN

    Listing date Apr 1, 2024

    MLS# 801522

    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.

    Overview

    Hammond Commercial Building For Sale

    This commercial building, zoned C-1, offers 1800 square feet of space. Constructed of brick, the building occupies a corner location and includes off-street parking. It is located in Hammond, Indiana, in Lake County. The property is situated on a lot measuring 0.083 acres. The building's location on Conkey Street provides good visibility within the neighborhood. Its zoning allows for conversion to various uses, including medical or professional offices, retail spaces, institutional facilities, industrial operations, schools, or churches. The property benefits from convenient access to Calumet Avenue and the Illinois/Indiana state line.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hammond Dental - Daniel ... Dental Office

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Digital Forensics — 5900 Hohman Ave #127, Hammond, IN 46320
    • KeyMe — 1233 165th st space 1a, hammond, in 46320

    Location Insight

    • Map
    • Local Demand
    City
    Hammond
    County
    Lake
    State
    Indiana
    Longitude
    -87.517097
    Latitude
    41.601568

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    FAQs

    What type of property is this?
    Office property - Commercial building in Hammond, Indiana, suitable for various uses.
    Where is this office property located?
    The property is located at 429 Conkey Street Hammond, IN.
    What is the asking price?
    The asking price for this property is $169,500.
    What are key features of this property?
    This property features: Versatile C‑1 Zoning: Suitable for a variety of uses.; High Visibility Corner Location: Situated on Conkey Street, offering excellent exposure.; Ample Off‑Street Parking: Provides convenient parking.
    (219) 781-6155
    We can help!
    Listing Contact
    Maureen Jones
    Real Estate License ID: RB18000146
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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