Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5529 Hohman Ave Hammond, IN 46320

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    High-yield medical office, prime location.

    Property size:
    3,892 SF

    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

    We can help!

    Listing Contact
    Antony Miocic
    Antony Miocic

    Listing Agency: Latitude Commercial Listing Agent: Antony Miocic

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    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 Profile Insight Report Location Intelligence

    Current Use by Public Records

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

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    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

    Nearby Similar for Sale

    • $335,000
      0.21 Acres

      Two Homes on One Property

      Unique property with two homes, ideal for investment or related living.
      246 142Nd St, Hammond, IN 46327
      View Details
    • $3,700,000
      14,534 SF

      Premium Munster Office/Medical Space

      Turn-key office/medical space in Munster's business corridor near Indiana/Illinois border.
      9404 Margo Ln, Munster, IN 46321
      View Details
    • $300,000
      0.12 Acres

      Hammond Multi-Family Investment Opportunity

      Two-unit property with basement, ideal for investors or family.
      922 Summer St, Hammond, IN 46320
      View Details
    • $259,000
      2,012 SF

      Hammond Commercial Property For Sale

      Commercial property in Hammond, Indiana, previously a bar.
      1403 Michigan St, Hammond, IN 46320
      View Details
    • New
      $159,900
      Pending

      Hammond Duplex Plus Rear House

      Two properties on a double lot, prime location, investment opportunity.
      1134 169Th St, Hammond, IN 46324
      View Details
    • $259,900
      0.11 Acres

      Hammond Two-Unit Rental Property

      Two-unit property in Hammond, IN with stable cash flow.
      4828 Oak Ave, Hammond, IN 46327
      View Details
    • $400,000
      10,528 SF

      Hammond Industrial Warehouse For Sale

      10,528 SF industrial warehouse in Hammond, Indiana for sale.
      4723 Baltimore Ave, Hammond, IN 46327
      View Details
    • New
      $349,900
      3,240 SF

      Versatile Commercial Building in Hammond

      3,240 sq ft commercial building on a double lot.
      917 Conkey St, Hammond, IN 46320
      View Details
    • $310,000
      870 SF

      Hammond Commercial Property on Calumet

      870 sq ft commercial property on Calumet Avenue, Hammond.
      7340 Calumet Ave, Hammond, IN 46324
      View Details
    • $1,000,000
      4,366 SF

      Turnkey Restaurant and Bar Opportunity

      Profitable restaurant and bar with income-generating tenants on 0.62 acres.
      6247 Kennedy Ave, Hammond, IN 46323
      View Details
    • $495,000
      5,000 SF

      Hammond Industrial Park Office Building

      Well-maintained 5,000 SF office building in Hammond Industrial Park.
      3680 179Th St, Hammond, IN 46323
      View Details
    • Contact for pricing
      3,880 SF

      Freestanding Restaurant on Ridge Road

      3,880 SF restaurant on 0.37 acres with 77 parking spaces.
      745 Ridge Rd, Munster, IN 46321
      View Details

    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.
    (219) 864-0200 Call to check price and availability
    Request Owner's contact information
    5529 Hohman Ave Hammond, IN 46320
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5529 Hohman Ave
    Hammond, IN 46320
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Antony Miocic
    Antony Miocic
    Real Estate License ID: RB16000975
    (219) 864-0200 (317) 658-5005 (209) 864-0200
    Learn more
    Google sign-in failed. Please try again or use another login method.