Live-Work Property with Bonus
New
For Sale
$199,000
112 N SCANLAN Street, Hammond, LA 70401
Commercial, Hammond, LA
Property Size1,210 SF
Lot Size0.32 Acres
Price / SF$164.46
Days on Market3
Property Features for 112 N SCANLAN Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MX-C
Parking features
Driveway, Off Street
Subdivision
Vaccaro Park Sub
Lot features
Regular
Standard status
Active
APN
01387707
Size
1,210 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Description
LOTS 15 & 16 SUB TRACT K VACCARO PARK SUB HAM B206 P434 B210 P235 B274 P262 B554 P445 B790 P288-289 289-291-293-329-332 B961 P677 B1453 P294-775 B1467 P628 B1619 P259 B1658 P748
Legal Description
LOTS 15 & 16 SUB TRACT K VACCARO PARK SUB HAM B206 P434 B210 P235 B274 P262 B554 P445 B790 P288-289 289-291-293-329-332 B961 P677 B1453 P294-775 B1467 P628 B1619 P259 B1658 P748
Utilities
Water source
Public
Building Details
Year built
1954
Floors in Building
1
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Louis Williams · License #000073679
(985) 237-0712
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 20 at 12:06PM
MLS# 2572469
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.
This 1,210-square-foot live-work property, built in 1954, combines residential areas with a bright bonus room that has its own exterior entrance. Interior features include wood-look porcelain tile, wood paneling, natural light, a kitchen with gray cabinetry, tile backsplash, ample counters, and white appliances. Additional rooms offer tile flooring, while the full bathroom includes a tub and shower. A firewall and fire door are installed to meet commercial code requirements.
The property sits on 0.3213 acres in Hammond, Louisiana, with MX-C zoning and the ability for up to 80% commercial use. Outdoor improvements include a covered patio, fenced backyard, mature shade trees, storage building, French drain, and driveway parking. Public water serves the property, and parking is available off street and in the driveway.
The property sits on 0.3213 acres in Hammond, Louisiana, with MX-C zoning and the ability for up to 80% commercial use. Outdoor improvements include a covered patio, fenced backyard, mature shade trees, storage building, French drain, and driveway parking. Public water serves the property, and parking is available off street and in the driveway.
Key Highlights
- MX‑C zoning with ability for up to 80% commercial use
- 1,210 square feet on a 0.3213‑acre lot
- Bright bonus room with separate exterior entrance
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
$18,241
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%
$364,820
$364.8K
Cap Rate 7%
$260,586
$260.6K
Cap Rate 9%
$202,678
$202.7K
Market Conditions
NOI Build-Up for 1,210 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
$28.3K $23.40/SF
− Vacancy
−$4.0K −$3.30/SF
EGI
$24.3K $20.10/SF
− OpEx
−$6.1K −$5.03/SF
NOI
$18.2K $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%
$364,820
Cap Rate 7%
$260,586
Cap Rate 9%
$202,678
Alternative Uses
Best Use
Office B
$260.6K
$228.0K – $304.0K
NOI $18,241 @ 7.0% cap · market cap 9.17%
Second Best
Mixed Use
$79.0K
$69.1K – $92.2K
NOI $5,529 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$333.6K
$291.9K – $389.2K
NOI $23,349 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
742
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 Office 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?
Live-work space - MX-C zoning allows up to 80% commercial use within this flexible residential and business setting.
Where is this live-work space located?
The property is located at 112 N SCANLAN Street Hammond, LA.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: MX‑C zoning with ability for up to 80% commercial use; 1,210 square feet on a 0.3213‑acre lot; Bright bonus room with separate exterior entrance
