Mixed-Use Building With
For Sale
$990,000
105 W Thomas St, 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$165.08
Days on Market384
Property Features for 105 W Thomas St
General Information
Standard status
Active
Size
5,997 SF
Additional Details
Multifamily Units
3
Amenities
expansive display windows
high ceilings
preserved architectural details
Building Details
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
NextHome Real Estate Professionals
(985) 969-1153
Listed By:
Jeannie Crayton · License #SALE.0000072192-ACT,PersonLicenseNumber
(985) 969-1153
Source:
Exprealty
Added: Aug 6, 2025
Changed: Aug 24
Last Checked: Aug 23 at 12:04PM
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
$60,135
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
6.07%
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%
$1,202,700
$1.2M
Cap Rate 7%
$859,071
$859.1K
Cap Rate 9%
$668,167
$668.2K
Market Conditions
NOI Build-Up for 5,997 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
$90.0K $15.00/SF
− Vacancy
−$4.0K −$0.68/SF
EGI
$85.9K $14.33/SF
− OpEx
−$25.8K −$4.30/SF
NOI
$60.1K $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%
$1,202,700
Cap Rate 7%
$859,071
Cap Rate 9%
$668,167
Alternative Uses
Best Use
Retail
$859.1K
$751.7K – $1.00M
NOI $60,135 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$560.2K
$490.2K – $653.6K
NOI $39,216 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$1.65M
$1.45M – $1.93M
NOI $115,722 @ 7.0% cap · market cap 11.69%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 St Hammond, LA.
What is the asking price?
The asking price for this property is $990,000.
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
