Hammond, Indiana, offers a unique opportunity for investors to capitalize on the city's diverse economy and growing population. With approximately 77,879 residents, Hammond is an attractive location for those looking to invest in multi-family properties. These properties can represent a range of investments, from small apartment buildings to large complexes, and offer a stable source of income through rental properties. Hammond's strong infrastructure, including the South Shore Line commuter rail and the Borman Expressway, makes it an ideal location for residents and businesses alike. The city's amenities, such as the parkland around Wolf Lake and the Horseshoe Hammond riverboat casino, also contribute to its appeal. Additionally, Hammond is home to several major employers, including Unilever and FedEx, which provides a stable job market for residents. The city's proximity to Lake Michigan and its scenic views make it an attractive location for those looking to live and work in the area.
Currently, there are 1 multi-family properties for sale in Hammond, offering a range of options for investors. The average price per square foot for these properties is $74 USD, with an average size of 10,851 square feet. The largest property available is 12,432 square feet. In addition to multi-family properties, Hammond also offers a range of other property types, including retail space, shopping centers, residential income homes, and office properties. For example, retail space is available along the city's main thoroughfares, such as Calumet Avenue and Indianapolis Boulevard. Shopping centers, like the Woodmar Mall, offer a range of retail and dining options. Residential income homes are available in various neighborhoods, including the Marina District and Downtown Hammond. Office properties, such as those located in the city's downtown area, offer a range of options for businesses looking to establish a presence in Hammond. Overall, Hammond offers a diverse range of property types, making it an attractive location for investors and businesses alike.
What is the average cap rate for multi-family properties in the Hammond market?
For investors seeking multi-family properties in Hammond, Indiana, it's essential to understand the average cap rate in the local market. According to current listings, the average cap rate for multi-family properties in Hammond is 6.35%, which is a crucial factor to consider when evaluating potential investments; to learn more about cap rates and their significance in commercial real estate, check out our article on what is a cap rate.
What should I know about financing options for buying an apartment building in Hammond?
When considering financing options for buying an apartment building in Hammond, it's essential to understand the various commercial real estate loans (CRE loans) available, as outlined in our article at CRE loans, to secure the best possible deal for your investment.
- Hammond's diverse economy, with a mix of light manufacturing, transportation, retail, and healthcare industries, can provide a stable source of tenants and revenue for apartment building owners.
- With 1 available listings of multi-family properties in Hammond, investors have a range of options to choose from, including properties with average prices per square foot of $74 USD and average sizes of 10,851 square feet.
- Additionally, Hammond's average cap rate of 6.35% can provide a competitive return on investment for apartment building owners, making it an attractive option for those looking to invest in the city's multi-family market.
