7003 Kennedy Ave, Hammond, IN 46323

Listing Agency: McCormick Real Estate, Inc. T***@mccormickrealestate.net Show Phone

Listed By: Tim Polk · License #IN RB21000495 Show Phone

Source: Exprealty

Added: Sep 10 Changed: Nov 5 Last Checked: Nov 6 at 12:57PM

Report an Issue

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 McCormick Real Estate, Inc.

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Located at 7003 Kennedy Ave in Hammond, this mixed-use property combines restaurant operations with a residential unit. The front portion includes Super Sub and Key Pizza, a commercial kitchen, staff area, POS system, and office space. The businesses are negotiable.

A separate three-bedroom, one-bath residential unit occupies the rear and is leased month to month, with separate utility service and its own furnace and AC. The property also provides private off-street parking, prominent signage along Kennedy Avenue, and room for expansion with drive-through potential.

Key Highlights

• Super Sub and Key Pizza occupy the front restaurant portion
• Commercial kitchen, staff area, POS system, and office included
• Rear residential unit has 3 bedrooms and 1 bath

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,473

Cap Rate

7.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$449,460 $449.5K

Cap Rate 7%

$321,043 $321.0K

Cap Rate 9%

$249,700 $249.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,270 SF

Gross rent

$40.9K $18.00/SF

− Vacancy

−$4.9K −$2.16/SF

EGI

$36.0K $15.84/SF

− OpEx

−$13.5K −$5.94/SF

NOI

$22.5K $9.90/SF

Area

Lake County, IN

Vacancy

12.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$449,460

Cap Rate 7%

$321,043

Cap Rate 9%

$249,700

Alternative Uses

Best Use

Specialty Retail

$633.7K

$554.5K – $739.3K (±1% cap)

NOI $44,359 @ 7.0% cap · market cap 15.35%

Second Best

Mixed Use

$321.0K

$280.9K – $374.6K (±1% cap)

NOI $22,473 @ 7.0% cap · market cap 7.78%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Super Submarine Take-out & Catering Key Pizza Restaurant

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm HVAC Service Pharmacy Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

428

Businesses Nearby

106k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 34% Shops & Services 33% Groceries 31% Electronics 2%

Strack & Van Til Groceries

33,307 visits/mo 0.3 miles

Burger King Dining

19,460 visits/mo 0.1 miles

Chase Bank Shops & Services

14,962 visits/mo 0.1 miles

Citgo Shops & Services

8,681 visits/mo 0.4 miles

KFC Dining

8,272 visits/mo 0.1 miles

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

Properties on Market for Mixed-use properties in Lake County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Similar For Sale Nearby

See more

Mixed-Use Building with Office Suites

6434 Calumet Avenue, Hammond, IN 46324

$205,000

2,864 SF

View details

Restaurant Property With Leased Bar

6247 Kennedy Avenue, Hammond, IN 46323

$1,500,000

4,366 SF

View details

Six-Unit Mixed-Use Building

31-6429 Kennedy Ave, Hammond, IN 46323

$525,000

7,952 SF

View details

Renovated Mixed-Use Building Near Train

474 Fayette St, Hammond, IN 46320

$775,000

6,161 SF

View details

Mixed-Use Property with Office Space

1137 167th Street, Hammond, IN 46324

$1,100,000

14,195 SF

View details

Bar Building with Wet Bar

1403 Michigan Street, Hammond, IN 46320

$225,000

2,012 SF

View details

Bar Building with Rear Storage

1403 Carroll St, Hammond, IN 46320

$225,000

2,012 SF

View details

Live-Work Property with Mechanic Shop

6848 Columbia Avenue, Hammond, IN 46324

$250,000

1,778 SF

View details

Day Care Center with Parking

7410 Columbia Ave, Hammond, IN 46324

$460,000

4,000 SF

View details

Automotive Property with Signage

7340 Calumet Ave, Hammond, IN 46324

$310,000

870 SF

View details

Five-Unit Mobile Home Park

6410 Kennedy Avenue, Hammond, IN 46323

$175,000

4,000 SF

View details

Storefront Property with Basement

6635-37 Kennedy Avenue, Hammond, IN 46323

$295,000

6,700 SF

View details

Frequently Asked Questions

What type of property is this?

Mixed-use property - Front restaurant space includes a commercial kitchen, office, POS system, and two operating businesses.

Where is this mixed-use property located?

The property is located at 7003 Kennedy Ave Hammond, IN.

What is the asking price?

The asking price for this property is $289,000.

What are key features of this property?

This property features: Super Sub and Key Pizza occupy the front restaurant portion; Commercial kitchen, staff area, POS system, and office included; Rear residential unit has 3 bedrooms and 1 bath