7025 Indianapolis BlvdHammond, IN 46324

Property Details for 7025 Indianapolis Blvd

Year built

1951

Construction

WOOD

Lot size

0.25 AC

Property size (Sq ft)

7,150 SF

Property type

Office properties

APN

45-07-08-402-003.000-023

APU

450708402003000023

Description

This exceptional 7,150 square foot commercial building is strategically located in Hammond, Indiana, just minutes from I-94, offering easy access and high visibility. Situated on a 0.25-acre lot with 100 feet of frontage on Indianapolis Boulevard, north of 171st Street, this property boasts ample paved parking for approximately 20 vehicles. Extensively remodeled in 2018, the building is perfect for single-user occupancy and is zoned for General Commercial use, making it suitable for office, retail, or medical practices. The first floor encompasses 5,300 square feet, featuring a large reception area, an executive boardroom with expansive window views, thirteen private offices, two private bathrooms, a kitchen, and storage space. The second floor adds another 1,850 square feet of fully finished space, including plumbed areas for an additional kitchen and bathroom, along with additional office space. A convenient 8x10 overhead garage door is located on the rear-north elevation. This property presents a rare opportunity to acquire a well-maintained, extensively remodeled commercial building in a highly desirable location. The combination of size, location, and recent renovations makes this an attractive investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $2,297,806

  6.5%

  $2,121,052

  7%

  $1,969,548

• Comparable approach

  Method

  Valuation

  Relative Method

  $931,288

  Geo Method

  $931,288

• Alternative Use

  Use

  Valuation

  Residential

  $2,630,104

  Hospitality

  $2,409,162

  Educational

  $2,004,394

  Medical

  $2,073,328

  Retail

  $3,117,946

Location Insight

City

Hammond

County

Lake

State

Indiana

Latitude

41.5859

Longitude

-87.4805

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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