Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Hammond Land Redevelopment Opportunity Title is generated by Realmo AI

    4514 Calumet Avenue, Hammond, IN 46327

    View on Map
    Claim this Listing
    For Sale
    $700,000

    LAND - Hammond, IN

    Lot size:
    0.14 Acres
    Added:
    Aug 29, 2025
    Days on Market:
    260
    Last Refresh:
    May 15 at 12:06 pm

    Property Features for 4514 Calumet Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Active
    APN
    450225429018000023
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    HOFFMAN'S 3RD ADD BLK 11 LOTS 42&43
    Tax Annual Amount
    1312

    Utilities

    Utilities
    Cable Available
    Water source
    Public

    Building Details

    Year built
    2025

    We can help!

    Listing Contact
    David Taylor
    David Taylor

    Listing agent David Taylor License #RB14023719

    Listing office McColly Real Estate 10709 Randolph Street, Schererville, IN

    Listing date Aug 29, 2025

    MLS# 826853

    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.

    HighLights

    • Highly visible location in a heavily trafficked commercial zone.
    • Potential for redevelopment or expansion with multiple vacant lots.
    • Suitable for various uses: retail, office space, mixed‑use development.
    • Strong surrounding businesses and steady area growth.
    • Excellent accessibility.
    • Existing home included with the vacant lots.

    Overview

    Several vacant lots, along with one existing home, are available, presenting opportunities for redevelopment or expansion. Located in a highly visible and heavily trafficked commercial zone in Hammond, Indiana, these parcels are suitable for various uses, including retail, office space, mixed-use development, or long-term investment. The property is situated in Lake County, Indiana, with strong surrounding businesses and excellent accessibility. The lot size is approximately 0.144 acres. The location benefits from steady growth in the area. This property is located at 4514 Calumet Avenue, Hammond, IN 46327, with the postal code 46327.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hammond
    County
    Lake
    State
    Indiana
    Longitude
    -87.509144
    Latitude
    41.631483

    Nearby Similar for Sale

    • $915,000
      8,656 SF

      Hammond Commercial Property on 165th

      High-visibility commercial property suitable for retail, office, or medical use.
      2620 E 165th Street, Hammond, IN 46323
      View Details
    • $495,000
      5,000 SF

      Hammond Industrial Park Office Building

      Well-maintained 5,000 SF office building in Hammond Industrial Park.
      3680 179th Street, Hammond, IN 46323
      View Details
    • $310,000
      870 SF

      Hammond Commercial Property on Calumet

      870 sq ft commercial property on Calumet Avenue, Hammond.
      7340 Calumet Avenue, 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 Avenue, Hammond, IN 46323
      View Details
    • $339,900
      3,240 SF

      Versatile Commercial Building in Hammond

      3,200 sq ft commercial building on a double lot.
      917 Conkey Street, Hammond, IN 46320
      View Details
    • $72,100
      920 SF

      Hammond Office Unit For Sale

      Office unit in walkable Hammond location, close to amenities.
      6604 Kennedy Avenue, Hammond, IN 46323
      View Details
    • $400,000
      10,528 SF

      Hammond Industrial Warehouse For Sale

      10,528 SF industrial warehouse in Hammond, Indiana for sale.
      4723 Baltimore Avenue, Hammond, IN 46327
      View Details
    • $425,000
      3,892 SF

      Hammond Medical Office Investment

      NNN single tenant medical office space for sale.
      5529 Hohman Ave, Hammond, IN 46320
      View Details
    • $175,000

      Hammond Multifamily Investment Opportunity

      Three-unit multifamily property in Hammond, Indiana, with strong rental potential.
      10-12 Waltham Street, Hammond, IN 46320
      View Details
    • $625,000
      10,370 SF

      Versatile Industrial/Flex Space Building

      10,370 SF industrial/flex space, minutes from the expressway.
      6547 Kennedy Avenue, Hammond, IN 46323
      View Details
    • $590,000

      Hammond, IN Commercial Vacant Land

      3.095 acre corner lot near I-80/I-94 and Illinois border.
      3606 Sheffield Avenue, Hammond, IN 46327
      View Details
    • $765,000
      8,833 SF

      Hammond Warehouse with Fenced Lot

      8,833 SF warehouse with fenced lot and six drive-in doors.
      741 Hoffman St, Hammond, IN 46327
      View Details

    FAQs

    What type of property is this?
    Land - Prime land parcels in high-traffic Hammond commercial zone for sale.
    Where is this land located?
    The property is located at 4514 Calumet Avenue Hammond, IN.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: Highly visible location in a heavily trafficked commercial zone.; Potential for redevelopment or expansion with multiple vacant lots.; Suitable for various uses: retail, office space, mixed‑use development.
    (219) 306-7812
    We can help!
    Listing Contact
    David Taylor
    David Taylor
    Real Estate License ID: RB14023719
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    4514 Calumet Avenue, Hammond, IN 46327
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!