5550 Sohl AveHammond, IN 46320

Property Details for 5550 Sohl Ave

Year built

1963

Construction

TYPE NOT SPECIFIED

Lot size

4.14 AC

Property size (Sq ft)

46,000 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

45-02-36-454-002.000-023

APU

450236454002000023

Description

This 43,520 square foot, single-story shopping center in Hammond, Indiana, presents a compelling investment opportunity. Anchored by Family Dollar and featuring a diverse tenant mix including Zara Wholesale and First Choice Market, the property boasts a strong, consistent income stream. Built in 1963 and situated on a 4.14-acre lot (APN: 45-02-36-454-002.000-023), the center offers significant value-add potential due to below-market rents. The property's Net Operating Income (NOI) is $230,841, yielding a 10.49% cap rate at an asking price of $2,200,000 ($50.55/sq ft). Its prime location on Sohl Avenue in Hammond ensures high visibility and traffic, benefiting from its position within the Chicago metropolitan area. The center benefits from a long-term operating history, providing a stable investment with potential for future rent increases. This fully leased property represents a rare opportunity to acquire a well-positioned retail asset with substantial upside. The property is located at 5550 Sohl Ave, Hammond, IN 46320.

• CAP approach

  CAP return

  Valuation

  6%

  $17,179,200

  6.5%

  $15,857,700

  7%

  $14,725,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,231,160

  Geo Method

  $6,231,160

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $31,218,300

  Mixed-Use / Specialty

  $15,682,300

  Hospitality / Lodging

  $11,350,900

  Office

  $15,465,400

  Institutional / Educational

  $16,260,800

  Residential Income

  $19,025,200

  Multifamily

  $23,476,700

  Automotive / Energy

  $13,937,900

  Parking / Income-Based Land

  $4,927,220

  Restaurant / Food Service

  $7,902,850

  Healthcare / Senior Housing

  $16,203,800

Location Insight

City

Hammond

County

Lake

State

Indiana

Latitude

41.6132

Longitude

-87.5146

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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