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    7444 Kennedy Ave Hammond, IN 46323

    Sponsored
    For Sale
    $675,000

    High-Visibility, Two-Unit Commercial Property with Expansion Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional investment opportunity presents a two-unit commercial strip mall situated on a 0.34-acre lot at 7444 Kennedy Avenue in Hammond, Indiana. Boasting a prime location with high visibility from the 80/94 expressway, this property ensures excellent accessibility for customers and high traffic exposure. The building comprises two separate units, currently occupied by tenants under favorable lease agreements. The anchor tenant, a top-performing Domino's Pizza franchise, is secured with a triple-net (NNN) lease extending to 2025, with two additional five-year extension options. The second unit is occupied under a new NNN lease commencing January 1, 2024, with two three-year renewal options. This provides immediate and long-term rental income stability. Further enhancing the investment potential, the City of Hammond has approved plans for the addition of a third unit to the existing structure. This expansion opportunity is complemented by an adjacent vacant 0.34-acre lot (parcel # 45-07-16-179-016.000-023, located at 7504 Kennedy Ave), providing ample space for additional parking to accommodate the growth. A brand new roof was installed in Spring 2024, minimizing immediate maintenance concerns. The property is offered at $675,000, representing a compelling investment in a thriving commercial area. This is a rare opportunity to acquire a well-established, income-producing property with significant upside potential.

    Property Features for 7444 Kennedy Ave

    General Information

    Property type
    Other commercial real estate
    Lot Size
    14,810 SF

    Building Details

    Year Built
    2004
    Property Profile Location Intelligence

    Current Use by Public Records

    Smoke shop superstore Smoke Shop Domino's Pizza Pizza Delivery

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Hammond
    County
    Lake
    State
    Indiana
    Longitude
    -87.46204
    Latitude
    41.57774

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    FAQs

    What type of property is this?
    Commercial real estate - High-Visibility, Two-Unit Commercial Property with Expansion Potential
    Where is this commercial real estate located?
    The property is located at 7444 Kennedy Ave Hammond, IN.
    What is the asking price?
    The asking price for this property is $675,000.
    (219) 292-3704
    Request Owner's contact information
    7444 Kennedy Ave Hammond, IN 46323
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    Hammond, IN 46323
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    Realmo Value Estimation

    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.

    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.

    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
    7444 Kennedy Ave Hammond, IN 46323
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