Office Building with Fenced
For Sale
$400,000
1024 S Cypress St, Hammond, LA 70403
Functional office layout with meeting, break, restroom, storage, and secured exterior yard areas.
Property Size1,553 SF
Price / SF$257.57
Days on Market12
Property Features for 1024 S Cypress St
General Information
Standard status
Active
Size
1,553 SF
Amenities
conference room
break room
storage room
landscaped
fully fenced laydown yard
Building Details
Year Built
1943
Buildings
1
Listing Agency:
Keller Williams Realty Services
(225) 939-6072
Listed By:
Will Frederick · License #0912124137
Source:
Dominionplace
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 30 at 8:06PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Services
Investment Insights
Based on property information with market context.
This office building at 1024 S Cypress St in Hammond provides a practical configuration for business use, with three offices, a conference room, break room, two bathrooms, and a storage room. One office is currently leased, adding an existing occupancy component to the property. The building was constructed in 1943 and includes a fully fenced laydown yard.
Landscaped grounds contribute to the property's maintained exterior presentation, while the address places the building minutes from downtown Hammond. The combination of dedicated office rooms and secured outdoor area supports a range of commercial operations requiring both workspace and yard capacity.
Landscaped grounds contribute to the property's maintained exterior presentation, while the address places the building minutes from downtown Hammond. The combination of dedicated office rooms and secured outdoor area supports a range of commercial operations requiring both workspace and yard capacity.
Key Highlights
- Three offices plus conference room, break room, two bathrooms, and storage room
- Fully fenced laydown yard
- One back office is currently rented
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
Property Profile
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Functional office layout with meeting, break, restroom, storage, and secured exterior yard areas.
Where is this office building located?
The property is located at 1024 S Cypress St 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: Three offices plus conference room, break room, two bathrooms, and storage room; Fully fenced laydown yard; One back office is currently rented
