Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1010-12 Martin Luther King Dr Hammond, LA 70401

    Sponsored
    For Sale
    $65,000

    Vacant Land - Hammond, LA

    Lot size:
    0.97 Acres
    Days on Market:
    184
    Last Refresh:
    Feb 5 at 9:06 pm

    Property Features for 1010-12 Martin Luther King Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Comm
    Lot size
    0.97 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Shannon Wells-Guidry

    Keller Williams Realty Services (985) 727-7000

    Listing agent Shannon Wells-Guidry (985) 727-7000

    Listing date Aug 6, 2025

    MLS# 2498650 Listing URL

    Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Hammond, LA Vacant Land

    This 0.97-acre vacant land parcel is located within the city limits of Hammond, Louisiana. The property is zoned for commercial use and offers city utilities and amenities. The site is cleared and presents an opportunity for investors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Hammond
    County
    Tangipahoa
    State
    Louisiana
    Longitude
    -90.4608
    Latitude
    30.5317

    Nearby Similar for Sale

    • $225,000
      1,891 SF

      Mixed-Use Property on Corner Lot

      Mixed-use property with office, duplex, and warehouse; owner financing.
      44216 S Range Rd, Hammond, LA 70465
      View Details
    • $990,000
      5,997 SF

      Iconic Mixed-Use Building in Hammond

      Mixed-use commercial building with retail space and residential apartments.
      105 West Thomas St, Hammond, LA 70401
      View Details
    • New
      $375,000
      3,888 SF

      Hammond Fourplex: Investment Opportunity

      Well-maintained fourplex in Hammond, LA with long-term tenant appeal.
      627-633 Joe Farris Dr, Hammond, LA 70403
      View Details
    • New
      $440,000
      7,907 SF

      Warehouse and Multifamily Investment Opportunity

      Commercial warehouse with multifamily units on 2.2 acres.
      10470 W Ln 190 Hwy, Hammond, LA 70401
      View Details
    • $1,600,000
      1,646 SF

      Income Producing New Construction Duplexes

      Six duplexes with potential for expansion in Hammond, Louisiana.
      14007 Perks Way, Hammond, LA 70401
      View Details
    • $255,000
      2,650 SF

      Hammond Triplex Investment Opportunity

      Income-producing triplex near downtown Hammond and Southeastern Louisiana University.
      202 W Clark St, Hammond, LA 70401
      View Details
    • $450,000
      4,983 SF

      Hammond Commercial Property with Upgrades

      3.18 acres with multiple buildings near I-55 and I-12.
      14456 Kohnke Hill Rd, Hammond, LA 70401
      View Details
    • $255,000
      2,000 SF

      Prime Commercial Property on Holly

      High-visibility commercial property with development potential near Hammond Square Mall.
      43391 S Holly St, Hammond, LA 70403
      View Details
    • $1,203,950

      Corner Commercial Building in Hammond

      Rare commercial building with parking in historic downtown Hammond.
      113 N Cypress St, Hammond, LA 70401
      View Details
    • $824,500
      7,400 SF

      Hammond, LA Apartment Complex

      Fully occupied 8-unit apartment complex near major roadways.
      14106 W Club Deluxe Rd, Hammond, LA 70403
      View Details
    • $400,000
      1,553 SF

      Hammond Commercial Office Building For Sale

      Well-kept office building with rental income and fenced yard.
      1024 S Cypress St, Hammond, LA 70403
      View Details
    • $824,500
      7,200 SF

      Hammond Multifamily Investment Opportunity

      Fully occupied 8-unit complex with expansion potential on 2.81 acres.
      11581 Ami Ln, Hammond, LA 70401
      View Details

    FAQs

    What type of property is this?
    Commercial land - Cleared land within city limits, utilities available, investor opportunity.
    Where is this commercial land located?
    The property is located at 1010-12 Martin Luther King Dr Hammond, LA.
    What is the asking price?
    The asking price for this property is $65,000.
    What are key features of this property?
    This property features: - Cleared land ready for development.; - Located inside Hammond city limits.; - Access to city utilities.
    (985) 727-7000
    Request Owner's contact information
    1010-12 Martin Luther King Dr Hammond, LA 70401
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1010-12 Martin Luther King Dr
    Hammond, LA 70401
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1010-12 Martin Luther King Dr Hammond, LA 70401
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Shannon Wells-Guidry
    (985) 727-7000
    Learn more
    Google sign-in failed. Please try again or use another login method.