Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    42318 Veterans Avenue Hammond, LA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    10 acres of vacant land near Highway 51.

    Type:LAND
    Lot size:
    10.00 Acres
    Added:
    Jun 26, 2023
    Days on Market:
    1037
    Last Refresh:
    Apr 5 at 11:30 pm

    Property Features for 42318 Veterans Avenue

    General Information

    Standard status
    Active
    Lot size
    10.00 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Bradley Cook, MS, CCIM

    Listing agent Bradley Cook, MS, CCIM

    Listing office Stirling Covington | Corporate

    Listing date Jun 26, 2023

    Source Moodyscre

    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 Stirling Covington | Corporate

    Overview

    10 Acres Prime Vacant Land

    This 10-acre vacant land is located at 42318 Veterans Ave., Hammond, LA 70403. The property is near Highway 51, Hammond Square Mall, and North Oaks Medical Center. Due to its proximity to Highway 51, the land has good visibility and accessibility, making it suitable for commercial development. The location near Hammond Square Mall ensures a potential customer flow, while the presence of North Oaks Medical Center attracts visitors and professionals. Hammond has experienced population growth, making it a location for new businesses and services. The presence of higher education institutions, including Southeastern Louisiana University, contributes to the region's economic development. Companies such as Albemarle Corporation, Tangipahoa Parish School System, and Northshore Technical Community College have a presence in the Hammond market. The property offers potential for commercial and mixed-use development ventures.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Big Box & Wholesale Store Spa & Massage Center Auto Repair Shop Dental Office Hair Salon Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hammond
    County
    Tangipahoa
    State
    Louisiana
    Longitude
    -90.4549
    Latitude
    30.4742

    Nearby Similar for Sale

    • $300,000

      Downtown Hammond Commercial Land Opportunity

      Prime commercial land in Downtown Hammond with mixed-use zoning.
      909 W MORRIS Avenue, Hammond, LA 70403
      View Details
    • $450,000
      4,983 SF

      Hammond Commercial Property with Buildings

      3.18 acres with multiple buildings near I-55 and I-12.
      14456 KOHNKE HILL Road, Hammond, LA 70401
      View Details
    • $400,000
      1,553 SF

      Hammond Commercial Office Building For Sale

      Well-kept office building with rental income and fenced yard.
      1024 S CYPRESS Street, Hammond, LA 70403
      View Details
    • $460,000

      Hammond Income-Producing Commercial Property

      Income-producing commercial property with tenant-occupied units and parking.
      1300 W THOMAS Street, Hammond, LA 70401
      View Details
    • $295,000

      Commercial Building with Drive-Thru

      Commercial building with drive-thru, kitchen, and digital sign.
      46608 MORRIS Road, Hammond, LA 70401
      View Details
    • $399,000

      Prime Commercial Land in Hammond

      6.10 acres with high visibility and utilities available.
      1904 CORBIN Road, Hammond, LA 70401
      View Details
    • $916,980
      76,415 SF

      Hammond Commercial Land For Sale

      1.75-acre commercial land parcel with high development potential.
      1955 SW RAILROAD Avenue lot: 2A1a, Hammond, LA 70401
      View Details
    • $733,136
      45,821 SF

      Hammond Commercial Site For Sale

      Prime commercial land in high-traffic retail corridor, Hammond, Louisiana.
      1955 SW RAILROAD Avenue lot: 2-A1b, Hammond, LA 70401
      View Details
    • $800,000
      7,200 SF

      Multifamily Investment Opportunity in Hammond

      Fully occupied 8-unit multifamily property with expansion potential.
      11581 AMI Lane, Hammond, LA 70401
      View Details
    • $800,000
      7,400 SF

      Hammond Multifamily Investment Opportunity

      Fully occupied 8-unit apartment complex in Hammond, Louisiana.
      14106 W CLUB DELUXE Road, Hammond, LA 70403
      View Details
    • $500,000
      152,460 SF

      Hammond Land with Development Potential

      3.5-acre tract suitable for apartments, retail, or mixed-use development.
      16137 E MINNESOTA Park lot: 1, Hammond, LA 70403
      View Details
    • $550,000

      Hammond Auto Repair Shop For Sale

      7,000 SF auto repair shop in high-traffic location.
      2810 W CHURCH Street, Hammond, LA 70401
      View Details

    FAQs

    What type of property is this?
    Land - 10 acres of vacant land near Highway 51.
    Where is this land located?
    The property is located at 42318 Veterans Avenue Hammond, LA.
    What is the asking price?
    The asking price for this property is $5,205,420.
    What are key features of this property?
    This property features: 10 acres of vacant land with significant commercial development potential; Strategically located near Highway 51, Hammond Square Mall, and North Oaks Medical Center, providing excellent visibility and accessibility; Hammond's consistent population growth and rising demand for commercial establishments
    (225) 505-6009 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Bradley Cook, MS, CCIM
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!