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    5529 Hohman Ave Hammond, IN 46320

    Sponsored
    For Sale
    $899,000

    High-yield medical office, prime location.

    Property size:
    3,892 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 3,892 square foot, single-tenant medical office building located at 5529 Hohman Avenue in Hammond, Indiana. The property, built in 1929 and boasting a Class B rating, is currently 100% occupied by Franciscan Health, a long-term tenant with a lease extending to September 2027. This NNN lease structure provides a stable and predictable income stream, with a current Net Operating Income (NOI) of approximately $67,697, yielding a 7.53% cap rate. The asking price is $899,000, translating to $230.99 per square foot. Situated on a 0.26-acre lot, the property is zoned C1 and features one single-story building. This turnkey operation is ideally positioned in the heart of downtown Hammond, benefiting from its revitalization efforts and convenient access to major transportation routes, including the South Shore Line, Borman Expressway, and Indiana Toll Road. The property's strategic location within the Chicago metropolitan area and its proximity to significant landmarks like Wolf Lake and the Horseshoe Hammond casino further enhance its appeal. This represents a compelling investment opportunity for those seeking a secure, high-yield asset in a thriving urban setting. The property's APN is 45-02-36-379-001.000-023.

    Property Features for 5529 Hohman Ave

    General Information

    Property type
    Medical offices
    Square Feet
    3,892 SF
    Class
    B
    Lot Size
    11,326 SF

    Building Details

    Year Built
    1929
    Buildings
    1
    Stories
    1

    HighLights

    • NNN single‑tenant medical office building investment for sale.
    • Franciscan Health, a long‑term tenant, occupies the building with a lease expiring September 2027.
    • Located in downtown Hammond, Indiana, on Hohman Avenue.
    • Turnkey 3,892 square foot medical office building.
    • Current Net Operating Income (NOI) is approximately $67,697, yielding a 7.53% cap rate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dr. Petronella A. Adomako, ... Doctor Erica Kaufman West Infectious Disease Physician Vanessa Sarda Infectious Disease Physician Syeda Quadri Infectious Disease Physician Nancy Gamarra Flores Internist

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Hammond
    County
    Lake
    State
    Indiana
    Longitude
    -87.5216266
    Latitude
    41.6127399

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    FAQs

    What type of property is this?
    Medical office - High-yield medical office, prime location.
    Where is this medical office located?
    The property is located at 5529 Hohman Ave Hammond, IN.
    What is the asking price?
    The asking price for this property is $899,000.
    What are key features of this property?
    This property features: NNN single-tenant medical office building investment for sale.; Franciscan Health, a long-term tenant, occupies the building with a lease expiring September 2027.; Located in downtown Hammond, Indiana, on Hohman Avenue.
    Request Owner's contact information
    5529 Hohman Ave Hammond, IN 46320
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    Hammond, IN 46320
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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
    5529 Hohman Ave Hammond, IN 46320
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