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    Bonded Warehouse Sublease with Heavy Power Title is generated by Realmo AI

    3200 Sheffield Avenue Hammond, Hammond, IN 46327

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    For Lease
    $7 SF/Yr $25,000/Mo (calc)

    Bonded facility offering 18-foot clear height, trailer parking, and multiple loading doors for adaptable industrial storage and distribution.

    Type:Industrial
    Property size:
    40,000 SF
    Lot size:
    72.00 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 3:16 am

    Property Features for 3200 Sheffield Avenue Hammond

    General Information

    Standard status
    Active
    Size
    40,000 SF
    Lot size
    72.00 Acres
    Property subtype
    Industrial

    Building Details

    Year Built
    1961

    Spaces For Lease

    at 3200 Sheffield Avenue Hammond Contact us

    We can help!

    Listing Contact
    Chris Gary
    Chris Gary

    Listing agent Chris Gary License #IL 475105914

    Listing office

    Listing date Jun 2, 2026

    Source Hiffman

    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 Chris Gary

    HighLights

    • 40,000 SF available for sublease in Hammond, IN within a 600,000 SF total building
    • 18' clear height with 25' x 25' bay sizes and sprinklered bonded warehouse structure
    • Heavy power with gas forced air heating
    • Access and loading: 2 interior loading docks and 3 drive‑in doors
    • Includes 1,000 SF office space plus outdoor trailer parking and on‑site storage
    • 72‑acre site with 25' x 25' bays and a $5.75/SF gross lease rate; short‑term deals considered

    Overview

    A 40,000 SF bonded warehouse is available for sublease within a larger 600,000 SF building. The space includes approximately 1,000 SF of office and is supported by heavy power, sprinklered protection, and gas forced-air heat. With 18-foot clear height and 25' x 25' bay sizes, the facility is designed for efficient storage and throughput. On-site improvements include outdoor trailer parking and storage, along with two interior loading docks and three drive-in doors.

    The property is situated on 72 acres in Hammond, Indiana, and is described as being close to Ford Supplier Park. Leasing terms are quoted as $5.75/SF Gross, and the owner states the team will consider short-term deals.

    This configuration is well-suited for tenants and operators seeking a flexible industrial space with bonded capabilities, meaningful warehouse clear height, and practical loading options for box trucks and trailers. The combination of heavy power, trailer parking, and an existing office component can support a range of light manufacturing, distribution, and warehouse-focused businesses that value straightforward operations and on-site functional storage.
    Location Intelligence

    Current Use by Public Records

    Tire Wholesalers Company, ... Big Box & Wholesale Store Brenntag Specialties, LLC Chemical Plant US Defense Logistics ... Military Base Wolf Lake Industrial ... Storage Facility Berlin Metals LLC. Factory

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    • Public Storage — 4015 Calumet Ave, Hammond, IN 46320

    Location Insight

    • Map
    • Local Demand
    City
    Hammond
    County
    Lake
    State
    Indiana
    Longitude
    -87.5187263
    Latitude
    41.653468

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    FAQs

    What type of property is this?
    Warehouse - Bonded facility offering 18-foot clear height, trailer parking, and multiple loading doors for adaptable industrial storage and distribution.
    Where is this warehouse located?
    The property is located at 3200 Sheffield Avenue Hammond Hammond, IN.
    What is the lease rate?
    The lease rate is $7 SF/Yr.
    What are key features of this property?
    This property features: 40,000 SF available for sublease in Hammond, IN within a 600,000 SF total building; 18' clear height with 25' x 25' bay sizes and sprinklered bonded warehouse structure; Heavy power with gas forced air heating
    (708) 712-9200
    We can help!
    Listing Contact
    Chris Gary
    Chris Gary
    Real Estate License ID: IL 475105914
    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.

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