Mixed-Use Restaurant
For Sale
$289,000
7003 Kennedy Avenue, Hammond, IN 46323
Commercial Sale, Hammond, IN
Property Size2,270 SF
Lot Size0.14 Acres
Price / SF$127.31
Days on Market49
Property Features for 7003 Kennedy Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking
6
Parking features
Off Street
Basement
Unfinished
Directions
Northeast corner of Kennedy and 170th
Standard status
Active
APN
450709402001000023
Size
2,270 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
S. 37 FT. OF N. 694.4 FT. OF W. 170 FT. OF NW. SE. S.9 T.36 R.9 .144 A.
Tax Annual Amount
4951
Legal Description
S. 37 FT. OF N. 694.4 FT. OF W. 170 FT. OF NW. SE. S.9 T.36 R.9 .144 A.
Utilities
Sewer type
Public Sewer
Heating system
Central
Water source
Public
Building Details
Year built
1954
Listing Agency:
McCormick Real Estate, Inc.
(219) 663-9300
Listed By:
Tim Polk
(219) 779-2092
Added: Sep 10
Changed: Oct 16
Last Checked: Oct 28 at 1:06PM
MLS# 845095
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.
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Investment Insights
Based on property information with market context.
This mixed-use property contains 2,270 square feet on a 0.144-acre lot. The front portion is configured for restaurant use and includes Super Sub and Key Pizza, a commercial kitchen, staff area, POS system, and office space. The rear includes a 3-bed, 1-bath residential unit with its own furnace and AC. The residence is leased month to month, with the tenant paying separate utilities.
Built in 1954, the property is positioned on Kennedy Avenue in Hammond and includes off-street parking. Public water and public sewer serve the property, while central heating is provided for the commercial space. The site also has room for expansion and a drive-through, as described in the property information.
Built in 1954, the property is positioned on Kennedy Avenue in Hammond and includes off-street parking. Public water and public sewer serve the property, while central heating is provided for the commercial space. The site also has room for expansion and a drive-through, as described in the property information.
Key Highlights
- 2,270‑square‑foot mixed‑use property on a 0.144‑acre lot
- Front restaurant area includes Super Sub and Key Pizza
- Commercial kitchen with staff area, POS system, and office
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
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
NOI $44,359 @ 7.0% cap · market cap 15.35%
Second Best
Mixed Use
$321.0K
$280.9K – $374.6K
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
Lease Details
1
Residential units
Turnkey business
Opportunity
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant operations, a residential unit, commercial kitchen, and off-street parking occupy this flexible mixed-use property.
Where is this mixed-use property located?
The property is located at 7003 Kennedy Avenue 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: 2,270‑square‑foot mixed‑use property on a 0.144‑acre lot; Front restaurant area includes Super Sub and Key Pizza; Commercial kitchen with staff area, POS system, and office
