Renovated Mixed-Use Building Near
474 Fayette St Hammond, IN 46320
474 Fayette St, Hammond, IN, 46320
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For Sale
Contact for pricing
Renovated mixed-use building suitable for event center or microbrewery.
Property Size6,161 SF
Price / SF$125.79
Days on Market117
Property Features for 474 Fayette St
General Information
- Standard status
- Active
- Size
- 6,161 SF
- Property subtype
- Retail
Listing Agency
Commercial In-Sites LLC
(219) 795-1100
Listed by
David Lasser · License #IN RB14026085
Source
Crexi
Added: Mar 26 Updated: Jul 10 at 3:43 pm Checked: Jul 19 at 7:31 am
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
Investment Insights
Based on property information with market context.
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.
Key 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.
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
NOI $60,994 @ 7.0% cap · market cap 7.87%
Second Best
Industrial
$510.6K
$446.8K – $595.7K
NOI $35,743 @ 7.0% cap · market cap 4.61%
Theoretical Best
Specialty Retail
$1.72M
$1.50M – $2.01M
NOI $120,394 @ 7.0% cap · market cap 15.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
18th Street Distillery ...
Bar & Pub
Similar For Sale Nearby
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.
