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6824 Calumet Ave, Hammond, IN 46324 6824 Calumet Ave 3,400 SF Office Building Hammond, IN 46324 $349,900 ($102.91/SF) 13% Cap Rate
Executive Summary
One Restaurant Space—Fully equipped, operational, and ideal for a café, bar, or full-service restaurant. Monthly rent: $2,200
One Office Space – Spacious, suitable for professional services, co-working, or private business. Monthly rent: $1,600
Investment Highlights:
Total Annual Rent: $45,600
Asking Price: $349,900
Cap Rate: ~13%
Cash-on-Cash Return: Strong potential depending on financing terms
Turnkey Income: Both spaces currently leased, immediate cash flow
Location Advantages:
Prime location on Calumet Ave (U.S. 41)—a high-traffic corridor with excellent visibility
Easy access to I-80/I-94, public transport, and nearby Chicago metro
Close to gas stations, retail, and everyday services, ensuring consistent foot traffic
One Office Space – Spacious, suitable for professional services, co-working, or private business. Monthly rent: $1,600
Investment Highlights:
Total Annual Rent: $45,600
Asking Price: $349,900
Cap Rate: ~13%
Cash-on-Cash Return: Strong potential depending on financing terms
Turnkey Income: Both spaces currently leased, immediate cash flow
Location Advantages:
Prime location on Calumet Ave (U.S. 41)—a high-traffic corridor with excellent visibility
Easy access to I-80/I-94, public transport, and nearby Chicago metro
Close to gas stations, retail, and everyday services, ensuring consistent foot traffic
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$45,600
|
$13.41
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$45,600
|
$13.41
|
| Taxes |
$5,400
|
$1.59
|
| Operating Expenses |
$4,000
|
$1.18
|
| Total Expenses |
$9,400
|
$2.76
|
| Net Operating Income |
$36,200
|
$10.65
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $45,600 |
| Annual Per SF | $13.41 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $45,600 |
| Annual Per SF | $13.41 |
| Taxes | |
|---|---|
| Annual | $5,400 |
| Annual Per SF | $1.59 |
| Operating Expenses | |
|---|---|
| Annual | $4,000 |
| Annual Per SF | $1.18 |
| Total Expenses | |
|---|---|
| Annual | $9,400 |
| Annual Per SF | $2.76 |
| Net Operating Income | |
|---|---|
| Annual | $36,200 |
| Annual Per SF | $10.65 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
3,400 SF
Building Class
C
Year Built
1930
Price
$349,900
Price Per SF
$102.91
Cap Rate
13%
NOI
$45,487
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,400 SF
Building FAR
0.68
Lot Size
0.11 AC
Zoning
C
Parking
9 Spaces (2.65 Spaces per 1,000 SF Leased)
1 1
Walk Score®
Very Walkable (74)
Property Taxes
| Parcel Number | 45-06-12-282-027.000-023 | Total Assessment | $142,300 (2025) |
| Land Assessment | $61,700 (2025) | Annual Taxes | $5,400 ($1.59/SF) |
| Improvements Assessment | $80,600 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
45-06-12-282-027.000-023
Land Assessment
$61,700 (2025)
Improvements Assessment
$80,600 (2025)
Total Assessment
$142,300 (2025)
Annual Taxes
$5,400 ($1.59/SF)
Tax Year
2024
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6824 Calumet Ave, Hammond, IN 46324 | 6824 Calumet Ave
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