New Flex Space with
For Sale
$540,000
1221 McKaskle Dr, Hammond, LA 70403
New construction combines two offices, reception space, a bathroom, and covered exterior area.
Property Size3,000 SF
Price / SF$180
Days on Market52
Property Features for 1221 McKaskle Dr
General Information
Standard status
Active
Size
3,000 SF
Building Details
Year Built
2026
Listing Agency:
Simply Real Estate LLC
(985) 348-0007
Listed By:
Tasha Lamkin-Dameron · License #995685504
Source:
Fiorellaavenue
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 25 at 4:34AM
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 Simply Real Estate LLC
Investment Insights
Based on property information with market context.
Completed in 2026, this 4,450-square-foot flex property pairs a two-office component with a small reception area and bathroom. The interior also includes open warehouse space, providing a straightforward combination of administrative and storage or operational areas within one building.
Covered exterior space adds an additional functional area to the property. The asset is identified as I-L zoning and is located at 1221 McKaskle Dr in Hammond, Louisiana.
Covered exterior space adds an additional functional area to the property. The asset is identified as I-L zoning and is located at 1221 McKaskle Dr in Hammond, Louisiana.
Key Highlights
- 4,450‑square‑foot flex property
- 2026 construction
- Two offices with reception area and bathroom
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
$45,226
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
8.38%
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%
$904,520
$904.5K
Cap Rate 7%
$646,086
$646.1K
Cap Rate 9%
$502,511
$502.5K
Market Conditions
NOI Build-Up for 3,000 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
$70.2K $23.40/SF
− Vacancy
−$9.9K −$3.30/SF
EGI
$60.3K $20.10/SF
− OpEx
−$15.1K −$5.03/SF
NOI
$45.2K $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%
$904,520
Cap Rate 7%
$646,086
Cap Rate 9%
$502,511
Alternative Uses
Best Use
Office B
$646.1K
$565.3K – $753.8K
NOI $45,226 @ 7.0% cap · market cap 8.38%
Second Best
Flex RnD
$262.1K
$229.3K – $305.8K
NOI $18,346 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$827.0K
$723.6K – $964.8K
NOI $57,890 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
706
Businesses Nearby
Balanced
Demand for This Use
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 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?
Flex space - New construction combines two offices, reception space, a bathroom, and covered exterior area.
Where is this flex space located?
The property is located at 1221 McKaskle Dr Hammond, LA.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: 4,450‑square‑foot flex property; 2026 construction; Two offices with reception area and bathroom
