7235 Calumet Avenue, Hammond, IN 46324
Wood Lawn Terrace · Lake County
Key Facts
Description
Great investment opportunity offered below market value! This established corner-lot commercial property is located in a high-traffic area along Calumet Avenue and offers over 12,000 square feet of versatile space. The building provides potential for up to 7 separate retail/commercial units, making it ideal for investors or owner-users seeking strong income potential once fully occupied. Additional value includes garage space accommodating 9+ vehicles, allowing for mixed-use possibilities, storage, or tenant amenities. Excellent visibility, flexible layout, and upside potential make this a solid value-add opportunity.
Property Information
Property Type
Commercial Sale
Sub-Type
Mixed Use
Year Built
1946
Living Area
12,106 sq ft
Lot Size
0.29 acres
Parking Spaces
7
Days on Market
75
MLS® Listing#
838209
Property Features
Cooling
Heating
Parking
Construction
Roof
Utilities
Sewer
Water Source
Financial Details
Annual Taxes
$12,049
Tax year 2025
Parcel Number
450707351019000023
Directions
From 80/94 take Calumet Ave North. Property is on the East side of Calumet across from Walgreens.
Affordability Calculator
$80,480
Estimated monthly payment
$2,142/mo
Principal $321,920 · Est. interest $449,107 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Hammond, IN
- $209,677
- Median Listing Price
- 39
- Median Days on Market
- 1,287
- Median Sq Ft
- $158
- Median Price / Sq Ft
- 65
- Active Listings
- This home’s price is 92% above the area median.
- Its price per sq ft is 79% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Hammond, IN.
Location
Points of Interest in Hammond, IN
Showing the Hammond area map.
Nearby Schools
Edison Elementary School
Elementary · 0.3 mi away
St John Bosco School
School · 0.5 mi away
O'Bannon Elementary School
Elementary · 0.6 mi away
James B Eads Elementary School
Elementary · 1.0 mi away
Eads Pto
School · 1.0 mi away
Maywood Elementary School
Elementary · 1.1 mi away
Thornton Fractional School District
School · 1.1 mi away
Jefferson Elementary School
Elementary · 1.1 mi away
Gavit High School
Secondary · 1.1 mi away
South Side Chrstn Preschool & Pre-K
School · 1.2 mi away
Lew Wallace Elementary School
Elementary · 1.3 mi away
Lansing Christian School
School · 1.4 mi away
Reavis Elementary School
Elementary · 1.4 mi away
Coolidge Elementary School
Elementary · 1.5 mi away
St John Lutheran School
Elementary · 1.6 mi away
St. Thomas More School
Secondary · 1.6 mi away
St Thomas More
School · 1.6 mi away
Schrum Memorial School
Secondary · 1.6 mi away
St Paul's Lutheran School
School · 1.7 mi away
School Town of Munster
School · 1.7 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 4212 Johnson Avenue, Hammond, IN | $284,900 | 3 | 2 | 1,295 |
| 5658 Walter Avenue, Hammond, IN | $288,500 | 3 | 2 | 1,400 |
| 49 Wildwood Road, Hammond, IN | $289,900 | 4 | 3 | 2,871 |
| 7340 Calumet Avenue, Hammond, IN | $310,000 | — | — | 870 |
| 5962 Park Place, Hammond, IN | $316,900 | 3 | 2 | 1,456 |
| 6720 Carolina Avenue, Hammond, IN | $320,000 | 3 | 3 | 1,730 |
Moving Cost Estimate
EXIT Agents in Hammond
Listing Courtesy: Listing Leaders Northwest - 2199615478
Presented by: Anil Bhalla
Last Updated: 2026-05-03