6823 Grand AveHammond, IN 46323

Property Details for 6823 Grand Ave

Year built

1967

Construction

WOOD

Lot size

0.84 AC

Property size (Sq ft)

11,850 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

45-07-10-253-004.000-023

APU

450710253004000023

Description

This 11,850 square foot retail property, located at 6823-6837 S. Grand Ave in Hammond, Indiana (zip code 46323), offers a prime commercial opportunity. Built in 1967, the property is situated in a thriving shopping center anchored by a convenience grocery store, ensuring a built-in customer base and high foot traffic. Currently, 1,050 square feet of retail space is available for lease, representing a portion of the total 11,850 square feet. The property's location within a vibrant residential neighborhood, alongside a mix of service and retail tenants, provides excellent visibility and accessibility. Lake County's strong local economy further enhances the investment potential. This multi-tenant building presents a unique chance to establish or expand a business in a well-established and busy commercial area. The available space is ideal for a variety of retail uses, benefiting from the existing high volume of pedestrian traffic and the convenience of the grocery store anchor. The property's address is 6823-6837 S. Grand Ave, Hammond, IN 46323.

• CAP approach

  CAP return

  Valuation

  6%

  $5,598,131

  6.5%

  $5,167,506

  7%

  $4,798,398

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,889,526

  Geo Method

  $3,889,526

• Alternative Use

  Use

  Valuation

  Residential

  $4,358,984

  Hospitality

  $3,992,806

  Educational

  $3,321,968

  Medical

  $3,436,215

  Retail

  $5,167,506

Location Insight

City

Hammond

County

Lake

State

Indiana

Latitude

41.589

Longitude

-87.4419

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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