RV Self-Storage
For Sale
Contact for pricing
10435 DESTINATION DR HAMMOND 70403, Hammond, LA 70403
Newly built storage property with enclosed and covered accommodations for recreational and oversized vehicles.
Property Size117,830 SF
Price / SF$64.92
Days on Market132
Property Features for 10435 DESTINATION DR HAMMOND 70403
General Information
Standard status
Active
Size
117,830 SF
Property subtype
Self Storage
Amenities
on-site dump station
Building Details
Year Built
2023
Units
1
Building Size
117,830 SF
Listing Agency:
Lindsey Self Storage
Listed By:
Matthew Rosendale · License #SC 130383
Source:
Crexi
Added: Apr 23
Changed: Aug 30
Last Checked: Sep 1 at 4:52AM
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 Lindsey Self Storage
Investment Insights
Based on property information with market context.
Completed in 2023, this RV self-storage facility provides 117,830 net rentable square feet across enclosed and covered vehicle storage. The improvements include 98,630 square feet of enclosed parking and 19,200 square feet of covered parking, with unit lengths ranging from 35 to 50 feet. Select units include 50-amp and 110V electrical service, while covered spaces and additional unit groups provide 110V access.
An on-site dump station connected to public sewer adds a practical service for RV storage users. The facility occupies approximately 7 acres within a 23.68-acre parcel; the remaining acreage is excluded from the sale, and the property is expected to be subdivided before closing. The address is 10435 Destination Dr in Hammond, Louisiana.
An on-site dump station connected to public sewer adds a practical service for RV storage users. The facility occupies approximately 7 acres within a 23.68-acre parcel; the remaining acreage is excluded from the sale, and the property is expected to be subdivided before closing. The address is 10435 Destination Dr in Hammond, Louisiana.
Key Highlights
- 117,830 net rentable square feet of RV and oversized vehicle storage
- 98,630 square feet of enclosed parking and 19,200 square feet of covered parking
- 35‑foot, 45‑foot, and 50‑foot storage units
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
$701,768
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
9.17%
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%
$14,035,360
$14.0M
Cap Rate 7%
$10,025,257
$10.0M
Cap Rate 9%
$7,797,422
$7.8M
Market Conditions
NOI Build-Up for 117,830 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
$1.10M $9.36/SF
− Vacancy
−$100.4K −$0.85/SF
EGI
$1.00M $8.51/SF
− OpEx
−$300.8K −$2.55/SF
NOI
$701.8K $5.96/SF
Area
Tangipahoa County, LA
Vacancy
9.10%
Lease Rate
$9.36 /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%
$14,035,360
Cap Rate 7%
$10,025,257
Cap Rate 9%
$7,797,422
Alternative Uses
Best Use
Self Storage
$10.03M
$8.77M – $11.70M
NOI $701,768 @ 7.0% cap · market cap 9.17%
Second Best
Warehouse
$8.23M
$7.20M – $9.60M
NOI $576,223 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$32.48M
$28.42M – $37.90M
NOI $2,273,716 @ 7.0% cap · market cap 29.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
41
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Newly built storage property with enclosed and covered accommodations for recreational and oversized vehicles.
Where is this self storage facility located?
The property is located at 10435 DESTINATION DR HAMMOND 70403 Hammond, LA.
What is the asking price?
The asking price for this property is $7,650,000.
What are key features of this property?
This property features: 117,830 net rentable square feet of RV and oversized vehicle storage; 98,630 square feet of enclosed parking and 19,200 square feet of covered parking; 35‑foot, 45‑foot, and 50‑foot storage units
