7105 Kennedy Ave Hammond, IN 46323-2226

This exceptional 24,340-square-foot industrial warehouse, located at 7105 Kennedy Avenue in Hammond, Indiana, presents a compelling investment opportunity. The property boasts a fee-simple ownership structure and sits on a 1.34-acre lot, including a fully fenced 0.7-acre area. Built in 1937, this Class C warehouse features five suites, each currently under a month-to-month lease, providing immediate income and potential for future value appreciation. The building offers three loading docks and ceiling heights ranging from 12 to 14 feet. The property is zoned C-4 General Commercial District, allowing for a variety of uses including restaurants, contractors, and automotive sales and service. Its strategic location, approximately half a mile north of the Kennedy Avenue exit on Interstate 94, ensures excellent accessibility. The current Net Operating Income (NOI) is $29,873, yielding a 3.34% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $107,926 and a 12.06% cap rate, highlighting the substantial upside potential for value-add investors or owner-users. This multi-tenant property offers a rare chance to acquire a well-located, income-producing asset with significant redevelopment possibilities in a high-barrier-to-entry submarket. The asking price is $895,000, translating to $36.77 per square foot.