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    Renovated Mixed-Use Building Near Train Title is generated by Realmo AI

    474 Fayette St, Hammond, IN 46320

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    Renovated mixed-use building suitable for event center or microbrewery.

    Type:Retail
    Property size:
    6,161 SF
    Price / SF:
    $125/SF
    Added:
    Mar 26, 2026
    Days on Market:
    72
    Last Refresh:
    May 12 at 9:15 pm

    Property Features for 474 Fayette St

    General Information

    Standard status
    Active
    Size
    6,161 SF
    Property subtype
    Retail

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    Listing Contact
    David Lasser

    Listing agent David Lasser License #IN RB14026085

    Listing office Commercial In-Sites LLC

    Listing date Mar 26, 2026

    Source Crexi

    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 Commercial In-Sites LLC

    HighLights

    • Prime Location: Just one block from the future "New West Lake Train Station".
    • Versatile Commercial Space: Boasting 5,296 SF of open space, ideal for an event center, microbrewery, or various other commercial ventures.
    • Completely Renovated: Features a new roof, HVAC, LED lighting, plumbing, windows, and concrete patio.
    • Two Income‑Generating Apartments: Includes a 1‑bedroom (631 SF) and a 2‑bedroom (802 SF) apartment.
    • Convenient Access: Close to major highways (I‑94, Indiana Toll Road, U.S. Highway 41, U.S. Highway 30) and Chicago.
    • Functional Features: Offers 13’ clear height, three overhead doors, and 480V power.

    Overview

    This completely renovated building is currently configured as an event center/distillery with two apartments. The property is located one block from the new West Lake Train Station, which is currently under construction. The building's irregular shape makes it suitable for various commercial uses, including an event center or microbrewery. Recent renovations include a new roof, HVAC systems, all LED lighting, shutters, plumbing system, three overhead doors, windows, and a concrete patio. The main unit features 5,296 square feet of open space suitable for a brewery area, a bar, an office, bathrooms, and an exterior patio area. It also features 13-foot clear height and three drive-in doors (two measuring 10 feet by 13 feet and one measuring 12 feet by 12 feet) with 480V power. Apartment #1, located on the north side of the building, is 631 square feet and includes one bedroom, a kitchenette/living room, and a private bath. Apartment #2, situated on the south side, is 802 square feet and features two bedrooms, a kitchenette/living room, and a private bath. The property is located on Fayette Street between Russell Avenue and Oakley Avenue in Hammond, approximately 1/4 mile east of the Indiana/Illinois state line, 1/2 mile west of Calumet Avenue (U.S. Highway 41), 1 1/2 miles north of 165th Street, 2 3/4 miles south of I-94, and 3 miles west of the Indiana Toll Road. It is also located 23 miles south of Chicago and 8 miles north of U.S. Highway 30. The property is one block from the Hammond Police Station, Strack and Van Til, Midwest Express Clinic, Wendy's, the United States Post Office, Family Dollar, Hammond Central High School, Area Career Center, U.S. District Courthouse, and Hammond City Hall.

    Local Financial Insights For Mixed Use

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $110.9k $18.00
    − Vacancy −$13.3k −$2.16
    EGI $97.6k $15.84
    − OpEx −$36.6k −$5.94
    NOI $61.0k $9.90
    6,161 SF · lease $18.00/SF/yr · vacancy 12.00% · expense 37.50%

    Alternative Uses

    Best Use
    Mixed Use
    $871.3K
    $762.4K – $1.02M (±1% cap)
    NOI $60,994 @ 7.0% cap · market cap 7.87%
    Second Best
    Retail
    $848.1K
    $742.1K – $989.5K (±1% cap)
    NOI $59,370 @ 7.0% cap · market cap 7.66%
    Theoretical Best
    Specialty Retail
    $1.72M
    $1.50M – $2.01M (±1% cap)
    NOI $120,394 @ 7.0% cap · market cap 15.53%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    18th Street Distillery ... Bar & Pub

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Hammond
    County
    Lake
    State
    Indiana
    Longitude
    -87.5187649
    Latitude
    41.6171205

    FAQs

    What type of property is this?
    Mixed-use property - Renovated mixed-use building suitable for event center or microbrewery.
    Where is this mixed-use property located?
    The property is located at 474 Fayette St Hammond, IN.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: Prime Location: Just one block from the future "New West Lake Train Station".; **Versatile Commercial Space:** Boasting 5,296 SF of open space, ideal for an event center, microbrewery, or various other commercial ventures.; **Completely Renovated:** Features a new roof, HVAC, LED lighting, plumbing, windows, and concrete patio.
    More about this property
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