Corner Storefront
For Sale
$1,144,000
113 & 117 N CYPRESS Street, Hammond, LA 70401
Commercial, Hammond, LA
Property Size8,930 SF
Price / SF$128.11
Days on Market369
Property Features for 113 & 117 N CYPRESS Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MX-CBD
Subdivision
Hyer Survey
Lot features
Oversized
Standard status
Active
APN
1490818
Taxes and HOA fees
Tax Description
Lots 9-10-11-12 SQ 58 H S HAM FRTG 25X125 FT LESS 10 FT ALLEY WAY, Lots 7-8 BEING IN NE COR OF SQ 58 H S HAMMOND MEAS 50X125 FT
Legal Description
Lots 9-10-11-12 SQ 58 H S HAM FRTG 25X125 FT LESS 10 FT ALLEY WAY, Lots 7-8 BEING IN NE COR OF SQ 58 H S HAMMOND MEAS 50X125 FT
Utilities
Water source
Public
Building Details
Year built
1920
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Bart Gillis
(504) 915-1961
Added: Aug 22, 2025
Changed: Aug 19
Last Checked: Aug 25 at 11:06AM
MLS# 2517877
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.
Built in 1920, this corner commercial building contains approximately 8,930 square feet of air-conditioned space and is currently used as the Louisiana Children's Museum & Discovery Center. The interior is in good condition and was previously configured as two separate commercial areas, offering the flexibility to maintain or restore a divided layout.
The property is positioned in historic downtown Hammond and includes parking for 18 vehicles. MX-CBD zoning supports a broad range of commercial applications, including retail, restaurant, bakery, manufacturing, office and medical office, and reception or banquet hall uses. Public water serves the property.
The property is positioned in historic downtown Hammond and includes parking for 18 vehicles. MX-CBD zoning supports a broad range of commercial applications, including retail, restaurant, bakery, manufacturing, office and medical office, and reception or banquet hall uses. Public water serves the property.
Key Highlights
- Approximately 8,930 SF of air‑conditioned commercial space
- Corner building in historic downtown Hammond
- 18‑car parking area included
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
$89,546
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
7.83%
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%
$1,790,920
$1.8M
Cap Rate 7%
$1,279,229
$1.3M
Cap Rate 9%
$994,956
$995.0K
Market Conditions
NOI Build-Up for 8,930 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
$134.0K $15.00/SF
− Vacancy
−$6.0K −$0.68/SF
EGI
$127.9K $14.33/SF
− OpEx
−$38.4K −$4.30/SF
NOI
$89.5K $10.03/SF
Area
Tangipahoa County, LA
Vacancy
4.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,790,920
Cap Rate 7%
$1,279,229
Cap Rate 9%
$994,956
Alternative Uses
Best Use
Retail
$1.28M
$1.12M – $1.49M
NOI $89,546 @ 7.0% cap · market cap 7.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $172,318 @ 7.0% cap · market cap 15.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 70401, LA
21,014
Population
10,321
Households
2
Avg Household Size
32
Median Age
35%
College-Educated
88%
High-School Grad
34.7 sq mi
ZIP Area
606
Density / Sq Mi
$50,995
Median Household Income
$31,405
Median Earnings
$977
Median Rent
$226,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Air-conditioned commercial space in Hammond’s MX-CBD district supports retail, dining, office, and other approved uses.
Where is this storefront property located?
The property is located at 113 & 117 N CYPRESS Street Hammond, LA.
What is the asking price?
The asking price for this property is $1,144,000.
What are key features of this property?
This property features: Approximately 8,930 SF of air‑conditioned commercial space; Corner building in historic downtown Hammond; 18‑car parking area included
