5-Bay Truck
New
For Sale
$1,500,000
6001 Kennedy Ave, Hammond, IN 46323
Industrial facility with a paved, fenced yard, pull-through access, and dedicated office and warehouse areas.
Property Size9,153 SF
Lot Size2.40 Acres
Price / SF$166.39
Days on Market3
Property Features for 6001 Kennedy Ave
General Information
Standard status
Active
Size
9,153 SF
Lot size
2.40 Acres
Property subtype
Truck Stops
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
16 ft
Warehouse Space
6,900 SF
Office Build-Out
2,200 SF
Drive-In Doors
5
Power
400 amps
Three-Phase Power
Yes
Amenities
driver locker rooms
secured front entrance
Building Details
Building Size
9,153 SF
Year Built
1973
Buildings
1
Listing Agency:
Latitude Commercial
(219) 864-0200
Listed By:
Aaron McDermott · License #471007837
(219) 864-0200
Source:
Thebrokerlist
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 7:26AM
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 Latitude Commercial
Investment Insights
Based on property information with market context.
Built in 1973, this industrial truck terminal includes a 9,015-square-foot building on approximately 2.4 acres. The facility offers five drive-in bays, including two pull-through bays, along with a paved and secured fenced yard designed for vehicle circulation and outdoor storage. Interior improvements include approximately 2,200 square feet of office space, approximately 6,900 square feet of warehouse area, driver locker rooms, and a controlled front entry. Warehouse ceilings are approximately 16 feet, with one 400 AMP 3-Phase service and four 200 AMP 3-Phase services.
The property is located at 6001 Kennedy Ave in Hammond, Indiana, with immediate access to U.S. Highway 20. It sits approximately two miles north of the Kennedy Avenue interchange with I-80/94 and a few miles from the Illinois state line, providing regional highway connections for transportation, distribution, service, and industrial operations.
The property is located at 6001 Kennedy Ave in Hammond, Indiana, with immediate access to U.S. Highway 20. It sits approximately two miles north of the Kennedy Avenue interchange with I-80/94 and a few miles from the Illinois state line, providing regional highway connections for transportation, distribution, service, and industrial operations.
Key Highlights
- 9,015‑square‑foot building on approximately 2.4 acres
- Five drive‑in bays, including two pull‑through bays
- Paved, fenced yard with secure outdoor storage area
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
$114,352
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
7.62%
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%
$2,287,040
$2.3M
Cap Rate 7%
$1,633,600
$1.6M
Cap Rate 9%
$1,270,578
$1.3M
Market Conditions
NOI Build-Up for 9,015 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
$194.7K $21.60/SF
− Vacancy
−$42.3K −$4.69/SF
EGI
$152.5K $16.91/SF
− OpEx
−$38.1K −$4.23/SF
NOI
$114.4K $12.68/SF
Area
Lake County, IN
Vacancy
21.70%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$2,287,040
Cap Rate 7%
$1,633,600
Cap Rate 9%
$1,270,578
Alternative Uses
Best Use
Office B
$1.63M
$1.43M – $1.91M
NOI $114,352 @ 7.0% cap · market cap 7.62%
Second Best
Warehouse
$907.3K
$793.9K – $1.06M
NOI $63,508 @ 7.0% cap · market cap 4.23%
Theoretical Best
Specialty Retail
$2.52M
$2.20M – $2.94M
NOI $176,164 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
5
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
99
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Truck terminal - Industrial facility with a paved, fenced yard, pull-through access, and dedicated office and warehouse areas.
Where is this truck terminal located?
The property is located at 6001 Kennedy Ave Hammond, IN.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 9,015‑square‑foot building on approximately 2.4 acres; Five drive‑in bays, including two pull‑through bays; Paved, fenced yard with secure outdoor storage area
