Office Building with Fenced
For Sale
$400,000
1024 S CYPRESS Street, Hammond, LA 70403
Commercial, Hammond, LA
Property Size1,553 SF
Lot Size0.18 Acres
Price / SF$257.57
Days on Market280
Property Features for 1024 S CYPRESS Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COM
Parking features
Off Street
Subdivision
Gyser
Lot features
Regular
Standard status
Active
APN
01534106
Size
1,553 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
LOT 4-5-18 & LOT MEAS 75 X 103.08 FT LOCATED ON W SIDE OF LOTS 4-18 GEYSER PLACE ADD HMD B504 P398 B685 P461 B703 P24 B1644 P615 B1656 P851 MAP 708/405 1644/615
Legal Description
LOT 4-5-18 & LOT MEAS 75 X 103.08 FT LOCATED ON W SIDE OF LOTS 4-18 GEYSER PLACE ADD HMD B504 P398 B685 P461 B703 P24 B1644 P615 B1656 P851 MAP 708/405 1644/615
Utilities
Water source
Public
Building Details
Year built
1943
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Will Frederick · License #0912124137
(985) 215-3100
Added: Dec 4, 2025
Changed: Aug 19
Last Checked: Sep 10 at 3:06AM
MLS# 2533431
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.
Investment Insights
Based on property information with market context.
This 1,553-square-foot office building in Hammond was built in 1943 and provides a practical layout for commercial operations. The interior includes three offices, a conference room, break room, two bathrooms, and a storage room. One rear office is currently rented, adding an existing occupant to the property’s configuration.
The 0.18-acre site is landscaped and includes a fully fenced laydown yard, off-street parking, and public water service. Located minutes from downtown Hammond, the property carries COM zoning and offers a combination of enclosed office space and secured outdoor area.
The 0.18-acre site is landscaped and includes a fully fenced laydown yard, off-street parking, and public water service. Located minutes from downtown Hammond, the property carries COM zoning and offers a combination of enclosed office space and secured outdoor area.
Key Highlights
- 1,553‑square‑foot office building on a 0.18‑acre site
- Interior includes three offices, conference room, break room, two bathrooms, and storage room
- Fully fenced laydown yard
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,412
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$468,240
$468.2K
Cap Rate 7%
$334,457
$334.5K
Cap Rate 9%
$260,133
$260.1K
Market Conditions
NOI Build-Up for 1,553 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$36.3K $23.40/SF
− Vacancy
−$5.1K −$3.30/SF
EGI
$31.2K $20.10/SF
− OpEx
−$7.8K −$5.03/SF
NOI
$23.4K $15.08/SF
Area
Tangipahoa County, LA
Vacancy
14.10%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$468,240
Cap Rate 7%
$334,457
Cap Rate 9%
$260,133
Alternative Uses
Best Use
Office B
$334.5K
$292.7K – $390.2K
NOI $23,412 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$428.1K
$374.6K – $499.5K
NOI $29,968 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
Explore this area
Business Placement
Demographics for 70403, LA
29,737
Population
13,577
Households
2.2
Avg Household Size
37
Median Age
24%
College-Educated
84%
High-School Grad
42.3 sq mi
ZIP Area
703
Density / Sq Mi
$50,547
Median Household Income
$32,603
Median Earnings
$992
Median Rent
$207,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Functional office property with multiple work areas, public water, off-street parking, and a secured outdoor storage area.
Where is this office building located?
The property is located at 1024 S CYPRESS Street Hammond, LA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1,553‑square‑foot office building on a 0.18‑acre site; Interior includes three offices, conference room, break room, two bathrooms, and storage room; Fully fenced laydown yard
