Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5320-5324 Hohman Ave Hammond, IN 46320
    Back to Search
    Property profile & analytics

    5320-5324 Hohman Ave, Hammond, IN 46320

    View on Map
    • Retail properties & Spaces
    • 10,044 SF
    • 0.09 lot acres
    For Sale
    $799,000
    View Listing →
    Hammond Mixed-Use Commercial Property For Sale
    $799,000
    10,044 SF

    Hammond Mixed-Use Commercial Property

    Prime location, versatile spaces, high potential.

    5320-5324 Hohman Ave, Hammond, IN 46320
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 5320-5324 Hohman Ave

    Year built
    1929
    Lot size
    0.09 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Mixed-use properties

    Description

    This exceptional mixed-use property, located at 5320-5324 Hohman Avenue in Hammond, Indiana (APN: 45-02-36-328-004.000-023), presents a unique investment opportunity. The property boasts a total of 10,044 square feet across three buildings situated on a 0.085-acre lot. Building 1, a 6,376 square foot structure, features a first floor with a kitchen, four offices, a workshop, and 2.5 baths. The second floor offers an additional 3,668 square feet of space. Building 2 provides adaptable office space and workshops, a mechanical room, and a half bath. Building 3 includes a dedicated customer area, a stock area, and a one-bedroom apartment. Significant renovations have been completed within the last seven years, including roof replacement, flooring, carpeting, and ceramic tile installation. The basement features concrete flooring, and new carpeting was recently installed in the second-floor offices of Building 1. The property includes six parking spaces and benefits from two new HVAC units (installed in 2021 and 2023), gas forced-air heating, and 100-amp and 200-amp electrical service (one is a new three-phase system). Two hot water heaters are also present, along with an air conditioning unit. This property is zoned C3 and offers a blend of commercial and residential space, making it ideal for a variety of business ventures. The asking price is $799,000. The property is available immediately (0 years remaining lease term).

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hammond
    County
    Lake
    State
    Indiana
    Longitude
    -87.5225
    Latitude
    41.6162

    Comparable in this City

    • Value Estimation by Request
      0.23 Acres

      6020-22 Columbia Ave

      Mixed-use properties
      6020-22 Columbia Ave, Hammond, IN 46320
      View Details
    • Value Estimation by Request
      5,500 SF

      I-65 Indiana-

      Automotive properties
      I-65 Indiana-, Hammond, IN 46320
      View Details
    • Value Estimation by Request
      5,000 SF

      1240 165Th St

      Retail properties & Spaces
      1240 165Th St, Hammond, IN 46320
      View Details
    • Value Estimation by Request
      0.07 Acres

      6014 Calumet Ave

      VEHICLE SALES, RENTALS
      6014 Calumet Ave, Hammond, IN 46320
      View Details
    • Value Estimation by Request
      0.09 Acres

      5721 Calumet Ave

      PARKING LOT
      5721 Calumet Ave, Hammond, IN 46320
      View Details
    • Value Estimation by Request
      0.14 Acres

      220 Carroll St

      PARKING LOT
      220 Carroll St, Hammond, IN 46320
      View Details

    Similar Nearby for Sale

    • $799,000
      10,044 SF

      Hammond Mixed-Use Commercial Property

      Prime location, versatile spaces, high potential.
      5320-5324 Hohman Ave, Hammond, IN 46320
      View Details
    • Contact for pricing
      6,161 SF

      Renovated Mixed-Use Building Near Train

      Renovated mixed-use building suitable for event center or microbrewery.
      474 Fayette St, Hammond, IN 46320
      View Details
    • $499,000

      Downtown Hammond Redevelopment Opportunity

      Five-story, 41,000 SF building near South Shore Train Line.
      5217 Hohman Ave, Hammond, IN 46320
      View Details
    • Contact for pricing
      4,977 SF

      Free-Standing Building on Corner Lot

      4,977 SF building suitable for retail, service, or flex uses.
      5646 Hohman Ave, Hammond, IN 46320
      View Details
    • New
      $239,000
      2,012 SF

      Bar and Restaurant Building with Parking

      Single building with parking and commercial appliances, plus additional back storage, ready for a new bar or restaurant concept.
      1403 Michigan St, Hammond, IN 46320
      View Details
    • Contact for pricing
      0.12 Acres

      Hammond, IN Land Opportunity

      Unimproved parcels near highways, minutes from Chicago. Development potential.
      911 Conkey St, Hammond, IN 46320
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,000 SF

      Hammond Office Space Available

      12000 square foot office space for rent in Hammond.
      649 Conkey St, Hammond, IN 46320
      View Details
    • $12 SF/Yr

      Former City Office Building

      Classic office building available for lease in Hammond, Indiana.
      649-651 Conkey St, Hammond, IN 46320
      View Details
    • Contact for pricing

      New Industrial Warehouse Units Available

      New construction industrial warehouse units with office space for rent.
      2320 Michigan St, Hammond, IN 46320
      View Details
    • Contact for pricing
      1,576 SF

      Hammond Office Space For Rent

      Office space in Hammond with flexible layout and aggressive rates.
      5250-5252 Hohman Ave, Hammond, IN 46320
      View Details
    View Listing
    Request Owner's contact information
    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.
    5320-5324 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
    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

    Thank You for Inquiry
    5320-5324 Hohman Ave, Hammond, IN, 46320
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!