7322 Indianapolis BlvdHammond, IN 46324

Property Details for 7322 Indianapolis Blvd

Year built

1960

Construction

TYPE NOT SPECIFIED

Lot size

0.25 AC

Property size (Sq ft)

4,288 SF

Property type

Office properties

Property subtype

Other office properties

APN

45-07-17-131-026.000-023

APU

450717131026000023

Description

This freestanding retail building, located at 7322 Indianapolis Blvd in Hammond, Indiana, presents a compelling investment opportunity. Boasting 4,288 square feet on a 0.25-acre lot, this property benefits from a prime location on heavily trafficked Indianapolis Boulevard, just off I-80/94, ensuring high visibility and accessibility. The building features its own dedicated parking lot and prominent pylon signage, maximizing exposure to the over 27,000 vehicles that pass daily. The interior is serviced by two HVAC units, facilitating easy division into multiple spaces. The roof is approximately five years old. Adding to its appeal, the property is less than a mile from a newly constructed $70 million YMCA, further enhancing its desirability and potential for increased foot traffic. The 2022-2023 property taxes totaled $11,256.52. The building is zoned C4. Built in 1960, this property offers significant potential for a variety of retail uses. Further information regarding the current tenant is available upon request. Please do not disturb the tenant.

• CAP approach

  CAP return

  Valuation

  6%

  $1,378,041

  6.5%

  $1,272,038

  7%

  $1,181,178

• Comparable approach

  Method

  Valuation

  Relative Method

  $558,512

  Geo Method

  $558,512

• Alternative Use

  Use

  Valuation

  Residential

  $1,577,327

  Hospitality

  $1,444,823

  Educational

  $1,202,076

  Medical

  $1,243,417

  Retail

  $1,869,896

Location Insight

City

Hammond

County

Lake

State

Indiana

Latitude

41.5804

Longitude

-87.4813

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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