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    5529 Hohman Ave Hammond, IN 46320

    • Medical offices
    • 3,892 SF
    • 0.22 lot acres
    For Sale
    View listing
    $899,000
    Value Estimation
    Location Intelligence
    Property ID
    US31-0449412
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dr. Petronella A. Adomako, MD / Doctor
    • Erica Kaufman West / Infectious Disease Physician
    • Vanessa Sarda / Infectious Disease Physician / Internist
    • Syeda Quadri / Infectious Disease Physician / Internist
    • Nancy Gamarra Flores / Internist

    Property Details for 5529 Hohman Ave

    Year built
    1929
    Construction
    WOOD
    Lot size
    0.22 lot acres
    Property size
    3,892 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    45-02-36-379-001.000-023
    APU
    450236379001000023

    Description

    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.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hammond
    County
    Lake
    State
    Indiana
    Longitude
    -87.5216
    Latitude
    41.6128
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $8,114
    $46,100
    $175,800
    $221,900
    -
    $46,100
    $175,800
    $221,900

    Comparable in this City

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      41,184 SF

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      5500 Hohman Ave, Hammond, IN 46320-1965
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    • Value Estimation
      $250,000
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      47 Doty St

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      13,125 SF

      222 Douglas St

      MEDICAL BUILDING • 13,125 SF
      222 Douglas St, Hammond, IN 46320-1960
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    • Value Estimation
      $320,000
      4,492 SF

      4020 Calumet Ave

      MEDICAL BUILDING • 4,492 SF
      4020 Calumet Ave, Hammond, IN 46320-1129
      View Details
    • Value Estimation
      $290,000
      3,123 SF

      5815 Calumet Ave

      MEDICAL BUILDING • 3,123 SF
      5815 Calumet Ave, Hammond, IN 46320-2352
      View Details
    • Value Estimation
      $465,000
      12,946 SF

      2143 Calumet Ave

      MEDICAL BUILDING • 12,946 SF
      2143 Calumet Ave, Hammond, IN 46320
      View Details

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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
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