For Sale
Contact for pricing
741 Hoffman St, Hammond, IN 46327
Warehouses
Property Size8,833 SF
Lot Size0.34 Acres
Price / SF$86.61
Days on Market813
Property Features for 741 Hoffman St
General Information
Standard status
Active
Size
8,833 SF
Lot size
0.34 Acres
Property subtype
Industrial
Zoning
C4
Building Details
Year Built
1917
Listing Agency:
StreetFront Real Estate
(219) 510-3720
Listed By:
Ryan Peters · License #IN RB14047099
Source:
Crexi
Added: Jun 6, 2024
Changed: Aug 26
Last Checked: Aug 26 at 11:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of StreetFront Real Estate
Investment Insights
Based on property information with market context.
Key Highlights
- C4 zoning allows for diverse commercial usage
- Excellent accessibility with multiple drive‑in doors
- Large building size: 6,330 sq ft main building plus 2,200 sq ft addition
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$62,225
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,244,500
$1.2M
Cap Rate 7%
$888,929
$888.9K
Cap Rate 9%
$691,389
$691.4K
Market Conditions
NOI Build-Up for 8,833 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$77.4K $8.76/SF
− Vacancy
−$4.2K −$0.47/SF
EGI
$73.2K $8.29/SF
− OpEx
−$11.0K −$1.24/SF
NOI
$62.2K $7.04/SF
Area
Lake County, IN
Vacancy
5.39%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,244,500
Cap Rate 7%
$888,929
Cap Rate 9%
$691,389
Alternative Uses
Best Use
Retail
$1.22M
$1.06M – $1.42M
NOI $85,119 @ 7.0% cap · market cap 11.13%
Second Best
Warehouse
$888.9K
$777.8K – $1.04M
NOI $62,225 @ 7.0% cap · market cap 8.13%
Theoretical Best
Specialty Retail
$2.47M
$2.16M – $2.88M
NOI $172,608 @ 7.0% cap · market cap 22.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
362
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46327, IN
11,078
Population
4,389
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
77%
High-School Grad
4.6 sq mi
ZIP Area
2,408
Density / Sq Mi
$50,457
Median Household Income
$30,939
Median Earnings
$1,133
Median Rent
$116,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Marathon Petroleum Corporation — 4206 Columbia Ave, Hammond, IN 46327
- WALMART CHICAGO DC Center Point 7100 — 1340 141st St, Hammond, IN 46327
Frequently Asked Questions
Where is this warehouse located?
The property is located at 741 Hoffman St Hammond, IN.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: C4 zoning allows for diverse commercial usage; Excellent accessibility with multiple drive‑in doors; Large building size: 6,330 sq ft main building plus 2,200 sq ft addition
