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    5320-5324 Hohman Ave Hammond, IN 46320

    Sponsored
    For Sale
    $799,000

    Prime location, versatile spaces, high potential.

    Property size:
    10,044 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property, located at 5320-5324 Hohman Avenue in Hammond, Indiana (APN: 45-02-36-328-004.000-023), presents a unique investment opportunity. The property boasts a total of 10,044 square feet across three buildings situated on a 0.085-acre lot. Building 1, a 6,376 square foot structure, features a first floor with a kitchen, four offices, a workshop, and 2.5 baths. The second floor offers an additional 3,668 square feet of space. Building 2 provides adaptable office space and workshops, a mechanical room, and a half bath. Building 3 includes a dedicated customer area, a stock area, and a one-bedroom apartment. Significant renovations have been completed within the last seven years, including roof replacement, flooring, carpeting, and ceramic tile installation. The basement features concrete flooring, and new carpeting was recently installed in the second-floor offices of Building 1. The property includes six parking spaces and benefits from two new HVAC units (installed in 2021 and 2023), gas forced-air heating, and 100-amp and 200-amp electrical service (one is a new three-phase system). Two hot water heaters are also present, along with an air conditioning unit. This property is zoned C3 and offers a blend of commercial and residential space, making it ideal for a variety of business ventures. The asking price is $799,000. The property is available immediately (0 years remaining lease term).

    Property Features for 5320-5324 Hohman Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    10,044 SF
    Lot Size
    3,703 SF

    Building Details

    Year Built
    1929
    Units
    3

    HighLights

    • $799,000 Asking Price
    • 10,044 SF Retail/Mixed‑Use Building on 0.085 acres
    • Three units with six parking spaces
    • Located at 5320‑5324 Hohman Ave, Hammond, IN 46320 (APN: 45‑02‑36‑328‑004.000‑023)
    • Built in 1929, with recent renovations including new roofs, flooring, and HVAC systems.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hammond
    County
    Lake
    State
    Indiana
    Longitude
    -87.5224522
    Latitude
    41.6161524

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    FAQs

    What type of property is this?
    Mixed-use property - Prime location, versatile spaces, high potential.
    Where is this mixed-use property located?
    The property is located at 5320-5324 Hohman Ave Hammond, IN.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: $799,000 Asking Price; 10,044 SF Retail/Mixed-Use Building on 0.085 acres; Three units with six parking spaces
    Request Owner's contact information
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    Realmo Value Estimation

    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.

    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.

    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
    5320-5324 Hohman Ave Hammond, IN 46320
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