Retail Properties in Hammond, Indiana, offer a unique investment opportunity for those looking to capitalize on the city's diverse economy and strategic location. With a population of approximately 77,879 residents, Hammond provides a sizable market for retailers to tap into. Retail Properties in Hammond can represent a range of investments, from small, independent shops to larger, big-box stores. The city's infrastructure, including the South Shore Line commuter rail and the Borman Expressway, makes it an attractive location for businesses looking to establish a presence in the Chicago metropolitan area. Additionally, Hammond's amenities, such as the parkland around Wolf Lake and the Horseshoe Hammond riverboat casino, provide a unique draw for customers. The city's education system, including Calumet College of St. Joseph, Kaplan University, and Purdue University Northwest, also contributes to its appeal. With its rich history, diverse economy, and scenic location along Lake Michigan, Hammond is an excellent place to invest in a Retail Property. The city's attractions, such as the Festival of the Lakes and the Hammond Arts Alliance's Art Walk, also make it a great place for business and travel.
Currently, there are 18 Retail Properties available for sale in Hammond, offering a range of options for investors. The average price per square foot for these properties is $263 USD, with an average size of 9,654 square feet. The largest property available is 26,510 square feet. In addition to Retail Properties, Hammond also offers a range of other property types, including Shopping Centers, which can be found along major thoroughfares like Calumet Avenue and Indianapolis Boulevard. Restaurants are also prevalent in the city, with many establishments located in the Downtown Hammond area. Office Properties are available in various locations throughout the city, including the Marina District and Woodmar. Hotels, such as the Horseshoe Hammond riverboat casino, offer a unique blend of gaming and entertainment options. With its diverse range of property types and amenities, Hammond is an attractive location for investors and businesses alike.
What is the average cap rate for retail properties in Hammond?
When it comes to retail properties in Hammond, investors can expect an average cap rate of 7.8%, which is a key metric to consider when evaluating the potential return on investment. To learn more about how cap rates work and what they mean for your investment strategy, check out our article on what is a cap rate, which provides a comprehensive overview of this important concept.
How do location and foot traffic affect retail property values?
In Hammond, Indiana, the location and foot traffic of retail properties significantly impact their values. Properties situated in high-traffic areas, such as Downtown Hammond or the Marina District, with easy access to major transportation hubs like the South Shore Line station or the Borman Expressway, tend to command higher prices due to their desirability and potential for increased customer exposure, with an average price per square foot of $263 USD and an average size of 9,654 square feet.
