Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    7139 Montana Ave Hammond, IN 46323

    Sponsored
    For Sale
    Pending
    Contact for pricing

    LAND - Hammond, IN

    Lot size:
    0.17 Acres
    Days on Market:
    6
    Last Refresh:
    Feb 1 at 8:06 pm

    Property Features for 7139 Montana Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    450710379008000023
    Lot size
    0.17 Acres

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Amy Mathewson

    The Lyons Group Real Estate (219) 218-1181

    Listing agent Amy Mathewson (219) 713-4878

    Listing date Jan 27, 2026

    MLS# 832691 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Residential Lot in Hammond, Indiana

    This vacant lot, measuring 0.1736 acres, presents an opportunity for builders, investors, or individuals seeking to design their own home. Situated in a residential neighborhood, the lot benefits from the proximity of existing utilities and alley access. Its location offers convenient access to parks, schools, restaurants, and expressways, facilitating commutes to Chicago and various amenities in Northwest Indiana. This property is located in Hammond, Indiana.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Hammond
    County
    Lake
    State
    Indiana
    Longitude
    -87.44307
    Latitude
    41.583255

    Nearby Similar for Sale

    • $3,700,000
      14,534 SF

      Premium Munster Office/Medical Space

      Turn-key office/medical space in Munster's business corridor near Indiana/Illinois border.
      9404 Margo Ln, Munster, IN 46321
      View Details
    • $259,000
      2,012 SF

      Hammond Commercial Property For Sale

      Commercial property in Hammond, Indiana, previously a bar.
      1403 Michigan St, Hammond, IN 46320
      View Details
    • $159,900
      0.14 Acres

      Hammond Duplex Plus Rear House

      Two properties on a double lot, prime location, investment opportunity.
      1134 169Th St, Hammond, IN 46324
      View Details
    • $400,000
      10,528 SF

      Hammond Industrial Warehouse For Sale

      10,528 SF industrial warehouse in Hammond, Indiana for sale.
      4723 Baltimore Ave, Hammond, IN 46327
      View Details
    • $355,000
      3,240 SF

      Versatile Commercial Building in Hammond

      3,200 sq ft commercial building on a double lot.
      917 Conkey St, Hammond, IN 46320
      View Details
    • $310,000
      870 SF

      Hammond Commercial Property on Calumet

      870 sq ft commercial property on Calumet Avenue, Hammond.
      7340 Calumet Ave, Hammond, IN 46324
      View Details
    • $1,000,000
      4,366 SF

      Turnkey Restaurant and Bar Opportunity

      Profitable restaurant and bar with income-generating tenants on 0.62 acres.
      6247 Kennedy Ave, Hammond, IN 46323
      View Details
    • New
      $495,000
      5,000 SF

      Hammond Industrial Park Office Building

      Well-maintained 5,000 SF office building in Hammond Industrial Park.
      3680 179Th St, Hammond, IN 46323
      View Details
    • $765,000
      8,833 SF

      Versatile Commercial Property in Hammond

      0.34-acre property with 8,833 SF building, ideal for various uses.
      741 Hoffman St, Hammond, IN 46327
      View Details
    • Contact for pricing
      3,880 SF

      Freestanding Restaurant on Ridge Road

      3,880 SF restaurant on 0.37 acres with 77 parking spaces.
      745 Ridge Rd, Munster, IN 46321
      View Details
    • $3,300,000
      61,500 SF

      Commercial Office Condominium Opportunity

      Located in a rapidly developing commercial corridor on Calumet Avenue.
      9410 Calumet Ave, Munster, IN 46321
      View Details
    • $355,000

      Versatile Commercial Building on Double Lot

      3,200 sq ft commercial building ideal for various business operations.
      917 Conkey St, Hammond, IN 46320
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Vacant lot for builders or investors near Chicago and amenities.
    Where is this residential land & home lot located?
    The property is located at 7139 Montana Ave Hammond, IN.
    What is the asking price?
    The asking price for this property is $18,000.
    What are key features of this property?
    This property features: - Vacant lot ready for your custom home design and construction.; - Convenient location with easy access to Chicago and Northwest Indiana via expressways.; - Utilities (water) are available nearby.
    (219) 713-4878
    Request Owner's contact information
    7139 Montana Ave Hammond, IN 46323
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7139 Montana Ave
    Hammond, IN 46323
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    7139 Montana Ave Hammond, IN 46323
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Amy Mathewson
    (219) 713-4878
    Learn more
    Google sign-in failed. Please try again or use another login method.