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    6933 Indianapolis Blvd Hammond, IN 46324-2205

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    6933 Indianapolis Blvd Hammond, IN 46324-2205

    View on Map
    • Outlet malls
    • 10,080 SF
    • 0.76 lot acres
    Off-Market
    Property ID
    US31-3517429
    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.
    Value Estimations
    $925,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Family Dollar / Discount Store

    Property Details for 6933 Indianapolis Blvd

    Year built
    1954
    Construction
    WOOD
    Lot size
    0.76 lot acres
    Property size
    10,080 SF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    45-07-08-401-003.000-023
    APU
    450708401003000023

    Description

    This exceptional investment opportunity presents a fee-simple interest in a 10,080-square-foot Family Dollar storefront located at 6933 Indianapolis Blvd, Hammond, IN 46324. Built in 2011, this single-story building sits on a 0.758-acre lot and boasts a strong 8.75% cap rate, generating a net operating income (NOI) of $131,850. The property benefits from a corporate-guaranteed net lease with a highly creditworthy tenant, ensuring consistent cash flow. The current lease, with a remaining term of 3.2 years, includes five 5-year renewal options at a 10% rent increase per option, providing long-term stability and appreciation potential. The property enjoys excellent visibility and access at a signalized intersection within a dense retail corridor, further enhanced by its proximity to Purdue University Northwest Campus and a strong demographic profile. This 100% occupied asset offers a compelling combination of secure income, significant lease term, and substantial growth opportunities. The asking price is $1,506,857, translating to $149.49 per square foot. This is a rare chance to acquire a well-positioned, high-performing retail investment in a thriving Indiana market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $898,000
      Market price range: $365k - $1.21M
      AI Estimate
      $926,000
      Market price range: $557k - $1.10M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $765,000
      Current use
      WAREHOUSE, STORAGE
      $750,000
      Change: -2% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hammond
    County
    Lake
    State
    Indiana
    Longitude
    -87.4805
    Latitude
    41.5872
    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
    $29,703
    $167,300
    $621,700
    $789,000
    -
    $167,300
    $621,700
    $789,000

    Comparable in this City

    • Value Estimation
      $8,350,000
      112,418 SF

      7925 Indianapolis Blvd, Unit 31

      WHOLESALE OUTLET, DISCOUNT STORE • 112,418 SF
      7925 Indianapolis Blvd, Hammond, IN 46324-3348
      View Details
    • Value Estimation
      $14,620,000
      189,392 SF

      7850 Cabela Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 189,392 SF
      7850 Cabela Dr, Hammond, IN 46324-0015
      View Details
    • Value Estimation by Request
      4,880 SF

      7201 Calumet Ave

      SHOPPING CENTER, STRIP CENTER • 4,880 SF
      7201 Calumet Ave, Hammond, IN 46324-2407
      View Details
    • Value Estimation by Request
      3,350 SF

      7504 Calumet Ave

      SHOPPING CENTER, STRIP CENTER • 3,350 SF
      7504 Calumet Ave, Hammond, IN 46324
      View Details
    • Value Estimation by Request
      13,338 SF

      6406 Calumet Ave, Unit 16

      SHOPPING CENTER, STRIP CENTER • 13,338 SF
      6406 Calumet Ave, Hammond, IN 46324-1207
      View Details
    • Value Estimation by Request
      0.14 Acres

      444 165th St

      PARKING LOT • 0.14 Acres
      444 165th St, Hammond, IN 46324-1328
      View Details

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      0.13 Acres

      Corner Lot Vacant Land

      Vacant corner lot with easy access to Chicago.
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      Land Near Purdue Northwest Campus

      Commercial land near YMCA, sports complex, and Purdue Northwest.
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    Similar Nearby for Lease

    • Contact for pricing
      3,200 SF

      New Retail Building with Drive-Thru

      New retail building with drive-thru, high visibility, and traffic.
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    • $22 SF/Yr
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      3,065 SF free-standing retail building near Hammond Sportsplex.
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      Retail Space with High Visibility

      Retail space with ample parking and customization potential.
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      View Details
    • Contact for pricing

      Hammond Office Suites For Lease

      Two turnkey office suites available on Indianapolis Blvd in Hammond.
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      Hammond Light Industrial Unit

      3,795 SF light industrial unit for lease in Hammond.
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    • $8 SF/Yr
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      Industrial Building with Cranes

      32,398 SF industrial building featuring overhead cranes.
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      View Details
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    Hammond, IN 46324-2205
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    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
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