Retail Space with Liquor and Gaming
For Sale
Contact for pricing
6712 Calumet Ave, Hammond, IN 46324
Two-parcel retail offering with liquor and gaming license included and potential for additional rental units.
Property Size5,356 SF
Price / SF$111.84
Days on Market109
Property Features for 6712 Calumet Ave
General Information
Standard status
Active
Size
5,356 SF
Property subtype
RETAIL
Additional Details
Liquor License
Yes
Amenities
Lighted Intersection
Listing Agency:
Diversified Commercial Real Estate
(219) 836-4740
Listed By:
Dennis Larson · License #RB14027471
(219) 836-2400
Source:
Moodyscre
Added: May 21
Changed: Aug 24
Last Checked: Sep 5 at 11:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Diversified Commercial Real Estate
Investment Insights
Based on property information with market context.
Retail space for sale at 6712 Calumet Ave, Hammond, IN 46324, totaling 5,356 square feet. The sale includes two parcels, along with a liquor and gaming license.
The property is positioned at a lighted intersection, supporting visibility and drive-by access for retail and related uses.
In addition to the existing retail configuration, additional rental units may be possible, offering flexibility for supplemental revenue opportunities subject to applicable approvals.
The property is positioned at a lighted intersection, supporting visibility and drive-by access for retail and related uses.
In addition to the existing retail configuration, additional rental units may be possible, offering flexibility for supplemental revenue opportunities subject to applicable approvals.
Key Highlights
- Liquor and gaming license included with the sale
- Two parcels included in the transaction
- Lighted intersection location
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$51,613
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,032,260
$1.0M
Cap Rate 7%
$737,329
$737.3K
Cap Rate 9%
$573,478
$573.5K
Market Conditions
NOI Build-Up for 5,356 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$77.1K $14.40/SF
− Vacancy
−$3.4K −$0.63/SF
EGI
$73.7K $13.77/SF
− OpEx
−$22.1K −$4.13/SF
NOI
$51.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,032,260
Cap Rate 7%
$737,329
Cap Rate 9%
$573,478
Alternative Uses
Best Use
Retail
$737.3K
$645.2K – $860.2K
NOI $51,613 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.50M
$1.31M – $1.74M
NOI $104,663 @ 7.0% cap · market cap 17.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
440
Businesses Nearby
94k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Groceries 25%
Dining 12%
Electronics 1%
Aldi
Groceries
23,409 visits/mo
0.5 miles
Speedway
Shops & Services
19,015 visits/mo
0.2 miles
White Castle
Dining
11,646 visits/mo
0.2 miles
BP
Shops & Services
10,939 visits/mo
0.3 miles
Family Dollar
Shops & Services
8,811 visits/mo
0.1 miles
Demographics for 46324, IN
22,611
Population
9,427
Households
2.4
Avg Household Size
36
Median Age
15%
College-Educated
86%
High-School Grad
4.4 sq mi
ZIP Area
5,139
Density / Sq Mi
$61,118
Median Household Income
$38,457
Median Earnings
$1,157
Median Rent
$141,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two-parcel retail offering with liquor and gaming license included and potential for additional rental units.
Where is this retail space located?
The property is located at 6712 Calumet Ave Hammond, IN.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Liquor and gaming license included with the sale; Two parcels included in the transaction; Lighted intersection location
