7139 Calumet AveHammond, IN 46324

Property Details for 7139 Calumet Ave

Year built

2012

Construction

TYPE NOT SPECIFIED

Lot size

0.79 AC

Property size (Sq ft)

4,950 SF

Property type

Car washes

APN

45-07-07-351-009.000-023

APU

450707351009000023

Description

This exceptional investment opportunity presents a fee-simple ownership of a 2,345-square-foot Circle K car wash located at 7139 Calumet Ave, Hammond, IN 46324. Built in 2012, this property boasts a 6.00% cap rate and a strong net operating income (NOI) of $199,670. The property sits on a 0.43-acre lot with 15 parking spaces and is zoned C4. The single-tenant building enjoys a 100% occupancy rate with a corporate guarantee from Circle K, a highly reputable national brand. The lease is an absolute NNN structure, minimizing landlord responsibilities. The current lease includes 4, 5-year options, ensuring long-term income stability and scheduled rental increases. This prime location within a dense retail corridor benefits from proximity to Purdue University Northwest and strong demographics within a 5-mile radius. The property's APN is 45-07-07-351-009.000-023. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment with significant upside potential. The asking price is $3,328,000.

• CAP approach

  CAP return

  Valuation

  6%

  $2,338,460

  6.5%

  $2,158,578

  7%

  $2,004,394

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,624,738

  Geo Method

  $1,624,738

• Alternative Use

  Use

  Valuation

  Residential

  $1,820,842

  Hospitality

  $1,667,881

  Educational

  $1,387,657

  Medical

  $1,435,381

  Retail

  $2,158,578

Location Insight

City

Hammond

County

Lake

State

Indiana

Latitude

41.5832

Longitude

-87.5087

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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