6040 Hohman Ave Hammond, IN 46320-3018

Property Details for 6040 Hohman Ave

Year built

1969

Construction

TYPE NOT SPECIFIED

Lot size

0.21 lot acres

Property size

6,600 SF

Property type

Commercial real estate

APN

45-06-01-154-028.000-023

APU

450601154028000023

Description

This exceptional value-add opportunity presents a two-story, 6,600 square foot office building situated at 6040 Hohman Ave, Hammond, Indiana, 46320. Built in 1969, this Class C property is currently vacant, offering significant upside potential for a savvy investor. The asking price is $500,000, translating to $75.76 per square foot. The property boasts a pro-forma cap rate of 15.84% and a pro-forma NOI of $79,200, indicating strong potential for return on investment. Each floor comprises approximately 3,300 square feet. The property is zoned R-1, allowing for residential or office use, subject to a conditional use permit. This versatile zoning allows for a range of potential uses, including educational facilities, recreational spaces, and essential services, all subject to approval. The property's location in Hammond, Indiana, offers access to a well-established residential district, presenting a unique opportunity to serve various community needs. The property's 1969 construction provides a solid foundation for renovation or repurposing. The triple net (NNN) lease structure further enhances the investment appeal. This is a multi-tenant building currently vacant, ready for immediate repositioning. The APN is 45-06-01-154-028.000-023. This is a compelling investment opportunity for those seeking a high-yield property with significant redevelopment potential.