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    Property profile & analytics

    7925 Nevada Ave Hammond, IN 46323-3038

    • Retail space
    • 6,000 SF
    • 0.83 lot acres
    OFF-MARKET
    Value Estimations
    $250,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0419090
    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

    • Retail space

    Property Details for 7925 Nevada Ave

    Year built
    1978
    Construction
    WOOD
    Lot size
    0.83 lot acres
    Property size
    6,000 SF
    Property type
    Retail space
    APN
    45-07-15-451-008.000-023
    APU
    450715451008000023

    Description

    This ±8,000 square foot freestanding building presents a unique redevelopment opportunity in Hammond, Indiana's Kennedy Business Park. Located at 7925 Nevada Avenue, this single-story, 1978-constructed property sits on a 0.83-acre lot and is zoned C4 | HS-2 District. Previously operating as a bar, the building offers multiple offices, restrooms, storage areas, a bar, lounge areas, and a breakroom. Ample parking is available both in front and rear of the building. The asking price is $499,000, translating to $62.38 per square foot. This owner-user investment is ideally suited for adaptive reuse. The property benefits from its convenient location, minutes from I-80, and is eligible for Lake County Economic Incentives (Revolving Loan Fund) and Hammond Incentives (Business Facade Rebate). Hammond's strategic position within the Chicago metropolitan area, bordering Chicago and with easy access to I-90, I-94, and I-80, makes this a compelling investment prospect. The property's features include a former bar/club layout, multiple offices, a locker room, and a breakroom. The vacant status allows for complete customization to suit a variety of business needs. The property's APN is 45-07-15-451-008.000-023.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $280,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $217,000
      Market price range: $217k - $719k
      AI Estimate
      $298,000
      Market price range: $298k - $982k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $455,000
      Current use
      WAREHOUSE, STORAGE
      $445,000
      Change: -2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Hammond
    County
    Lake
    State
    Indiana
    Longitude
    -87.4404
    Latitude
    41.5705
    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
    $4,401
    $79,200
    $43,600
    $122,800
    -
    $79,200
    $43,600
    $122,800

    Comparable in this City

    • Value Estimation by Request
      864 SF

      3402 173rd St

      RETAIL STORES (PERSONAL SERVICES) • 864 SF
      3402 173rd St, Hammond, IN 46323-2767
      View Details
    • Value Estimation
      $225,000
      1,269 SF

      6715 Kennedy Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,269 SF
      6715 Kennedy Ave, Hammond, IN 46323-1547
      View Details
    • Value Estimation
      $265,000
      1,944 SF

      2949 165th St

      RETAIL STORES (PERSONAL SERVICES) • 1,944 SF
      2949 165th St, Hammond, IN 46323-1164
      View Details
    • Value Estimation
      $345,000
      7,437 SF

      2732 165th St, Unit 34

      RETAIL STORES (PERSONAL SERVICES) • 7,437 SF
      2732 165th St, Hammond, IN 46323-1030
      View Details
    • Value Estimation
      $280,000
      704 SF

      7030 Kennedy Ave

      RETAIL STORES (PERSONAL SERVICES) • 704 SF
      7030 Kennedy Ave, Hammond, IN 46323-2212
      View Details
    • Value Estimation
      $250,000
      0.07 Acres

      6713 Kennedy Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.07 Acres
      6713 Kennedy Ave, Hammond, IN 46323
      View Details

    Similar Nearby for Sale

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      4,366 SF

      Turnkey Restaurant and Bar Opportunity

      Profitable restaurant and bar with income-generating tenants on 0.62 acres.
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      View Details
    • $150,000

      Kennedy Avenue Land Opportunity

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      6433-49 Kennedy Ave, Hammond, IN 46323
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    • $320,000
      0.20 Acres

      one bedroom apt

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    • $625,000
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      Industrial/Flex Space Building For Sale

      10,370 SF industrial/flex space building, versatile C4 zoning.
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    • Contact for pricing
      Pending

      Hammond, IN Land Opportunity

      Land near shopping, schools, and restaurants in Hammond, IN.
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    • Contact for pricing
      0.13 Acres

      Hammond Corner Lot Opportunity

      Vacant lot in established neighborhood, ready for new construction.
      6849 Maryland Ave, Hammond, IN 46323
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    7925 Nevada Ave
    Hammond, IN 46323-3038
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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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