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    474 Fayette St Hammond, IN 46320

    Sponsored
    For Sale
    $775,000

    Prime Location, Event Space, Apartments

    Property size:
    6,161 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This completely renovated 6,161 square foot building in Hammond, Indiana, presents a unique investment opportunity. Currently operating as an event center and distillery with two apartments, this versatile property is zoned C-3, offering diverse commercial possibilities. The main unit boasts 5,296 square feet of open space ideal for events, a microbrewery, or similar ventures. Features include a bar, office, bathrooms, and an exterior patio. The space also offers three overhead doors (two 10'x13', one 12'x12'), providing convenient access for loading and unloading, and 480V power. The building also includes two apartments: a 631 square foot unit with one bedroom and a 802 square foot unit with two bedrooms, each featuring a kitchenette/living room and private bath. Recent renovations encompass a new roof, HVAC systems, LED lighting, shutters, plumbing, and a concrete patio. Situated on a 0.65-acre lot on Fayette Street, this property enjoys a prime location just one block from the new West Lake Train Station (under construction), and is within close proximity to major roadways (US Highway 41, I-94, Indiana Toll Road), the Indiana/Illinois state line, and numerous amenities including the Hammond Police Station, grocery stores, restaurants, and schools. This property offers high visibility and convenient access, making it an attractive investment for a variety of commercial uses.

    Property Features for 474 Fayette St

    General Information

    Property type
    Wedding venues
    Square Feet
    6,161 SF
    Lot Size
    28,314 SF

    Building Details

    Units
    3
    Property Profile Location Intelligence

    Current Use by Public Records

    18th Street Distillery ... Bar

    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
    -87.5187421
    Latitude
    41.6170962

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    FAQs

    What type of property is this?
    Wedding venue - Prime Location, Event Space, Apartments
    Where is this wedding venue located?
    The property is located at 474 Fayette St Hammond, IN.
    What is the asking price?
    The asking price for this property is $775,000.
    (219) 795-1100
    Request Owner's contact information
    474 Fayette St 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
    474 Fayette St Hammond, IN 46320
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