5529 Hohman Ave - Medical FOR SALE


Hammond, IN 46320
$899,000 USD
219-864-0200
5529 Hohman Ave, Hammond, IN for Sale
$899,000 USD
Medical - FOR SALE
1/10
null | 7.53% Cap Rate

5529 Hohman Ave
Hammond, IN 46320


HIGHLIGHTS

  • NNN Single Tenant Investment for sale
  • Tenant Franciscan Health has been in place 12 years with the current lease expiring September of 2027
  • Located in Downtown Hammond on Hohman Avenue
  • Turnkey modern medical office space
  • Current NOI is approximately $70,000 annually
  • premier investment opportunity in the heart of Hammond, IN

OVERVIEW

Introducing a premier investment opportunity in the heart of Hammond, IN. This NNN single tenant property offers a prime location on Hohman Avenue, diligently serving as the modern medical office space for tenant Franciscan Health for the past 12 years. Boasting a turnkey operation, this 3,892 SF building holds significant value with a current NOI of approximately $70,000 annually. With a lease in place until September 2027, investors can capitalize on a stable and lucrative income stream. Zoned C1 and built in 1929, this property presents an enticing proposition for Office / Medical investors seeking a secure, long-term investment in a prominent downtown location. This property is located on the southeast corner of Hohman Avenue and Condit Street in Downtown Hammond. Hammond is a city in Lake County, Indiana. Located along Lake Michigan, it is part of the Chicago metropolitan area and the only city in Indiana to border Chicago. As of the 2020 census, it is the eighth-most populous city in Indiana, with 77,879 residents. The city is traversed by numerous railroads and expressways, including the South Shore Line, Borman Expressway, and Indiana Toll Road. Notable local landmarks include the parkland around Wolf Lake and the Horseshoe Hammond riverboat casino. Part of the Rust Belt, Hammond has been industrial almost from its inception but is also home to a campus of Purdue University and numerous historic districts. Downtown Hammond has the South Shore Rail extension coming and is undergoing a large scale revitalization.

FOR SALE DETAILS

PRICE

$899,000 USD

PRICE/SF

$231 USD /SF

CAP RATE

7.53%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Franciscan Medical - Hammond

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1929

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

C1

APN/PARCEL ID

45-02-36-379-001.000-023

ASK ABOUT THIS PROPERTY

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219-864-0200

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Antony MiocicLatitude CommercialMore Info
219-864-0200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.