Mixed-Use Building With
For Sale
$945,000
105 W Thomas Street, Hammond, LA 70401
Ground-floor commercial space combines with three residential apartments in a downtown building featuring display windows and high ceilings.
Property Size5,997 SF
Price / SF$189
Days on Market391
Property Features for 105 W Thomas Street
General Information
Standard status
Active
Size
5,997 SF
Property subtype
Commercial
Zoning
com
Additional Details
Multifamily Units
3
Amenities
expansive display windows
high ceilings
preserved architectural details
Building Details
Building Size
5,997 SF
Year Built
1948
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Nexthome Real Estate Professionals
(985) 429-0777
Listed By:
Jeannie Crayton · License #SALE.0000072192-ACT,PersonLicenseNumber
Source:
Nolalivingrealty
Added: Jul 28, 2025
Changed: Aug 20
Last Checked: Aug 21 at 2:43PM
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 Nexthome Real Estate Professionals
Investment Insights
Based on property information with market context.
The Toggery Building is a mixed-use property with 2,500 square feet of ground-floor retail or commercial space and an additional 2,500 square feet on the top floor. The commercial areas feature expansive display windows, high ceilings, and preserved architectural details. The second floor contains three residential apartments, creating a combination of commercial and residential occupancy within the same building. Constructed in 1948, the property is zoned com.
Located at 105 W Thomas Street in Downtown Hammond, the building is near restaurants, coffee shops, and other downtown businesses. Its position within the downtown area provides a setting suited to retail, office, or service-oriented commercial uses alongside residential apartments.
Located at 105 W Thomas Street in Downtown Hammond, the building is near restaurants, coffee shops, and other downtown businesses. Its position within the downtown area provides a setting suited to retail, office, or service-oriented commercial uses alongside residential apartments.
Key Highlights
- 5,000 square feet across two floors
- 2,500 square feet of ground‑floor retail or commercial space
- Three residential apartments on the second floor
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
$50,138
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
5.31%
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%
$1,002,760
$1.0M
Cap Rate 7%
$716,257
$716.3K
Cap Rate 9%
$557,089
$557.1K
Market Conditions
NOI Build-Up for 5,000 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
$75.0K $15.00/SF
− Vacancy
−$3.4K −$0.68/SF
EGI
$71.6K $14.33/SF
− OpEx
−$21.5K −$4.30/SF
NOI
$50.1K $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%
$1,002,760
Cap Rate 7%
$716,257
Cap Rate 9%
$557,089
Alternative Uses
Best Use
Retail
$716.3K
$626.7K – $835.6K
NOI $50,138 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$467.1K
$408.7K – $545.0K
NOI $32,697 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,483 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space combines with three residential apartments in a downtown building featuring display windows and high ceilings.
Where is this mixed-use property located?
The property is located at 105 W Thomas Street Hammond, LA.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: 5,000 square feet across two floors; 2,500 square feet of ground‑floor retail or commercial space; Three residential apartments on the second floor
