6525 Columbia Ave Hammond, IN 46320
- Office Properties & Spaces
- 8,400 SF
- 1.15 lot acres
Current Use by Public Records
- FSSA / Social Services Organization
- Hammond Office, Lake County Division of Family Resources / State Government Office
Property Details for 6525 Columbia Ave
- Year built
- 1966
- Lot size
- 1.15 lot acres
- Property size
- 8,400 SF
- Property type
- Office Properties & Spaces
Description
This exceptional 8,400-square-foot executive office building in Hammond, Indiana, presents a compelling net lease investment opportunity. Located at 6525 Columbia Ave, 46320, this Class B property boasts a 100% occupancy rate with a single tenant: the State of Indiana's Division of Family Resources. The current lease, a gross lease with expense caps protecting the landlord, extends until October 30, 2031, offering a remaining term of 6.9 years. The building underwent a complete renovation in 2021, including new electrical, plumbing, HVAC, interior finishes, and a roof replacement with a transferable warranty lasting until 2036. The property sits on a 1.15-acre lot and benefits from a property tax exemption, further mitigating risk. The tenant, providing essential public services, is responsible for all property taxes, even if the exemption is removed. The asking price is $2,270,714, representing a price per square foot of $270.32 and a 6.26% cap rate based on a net operating income (NOI) of $142,120. Built in 1966, this fee-simple ownership opportunity offers a secure, long-term investment backed by the State of Indiana's AAA credit rating. The lease includes provisions for annual budgeting, but the critical nature of the tenant's services makes continued occupancy highly probable. This is a rare chance to acquire a stable, low-risk investment with significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hammond
- County
- Lake
- State
- Indiana
- Longitude
- -87.4999
- Latitude
- 41.5949
