Commercial Storefront
For Sale
$325,000
1242 S Morrison Boulevard P, Hammond, LA 70403
Established storefront property with frontage on Hwy 51 and access to I-12 and I-55.
Property Size1,981 SF
Price / SF$164.06
Days on Market28
Property Features for 1242 S Morrison Boulevard P
General Information
Standard status
Active
Size
1,981 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
1990
Listing Agency:
United Real Estate Partners
Listed By:
Jeveen Williams
(985) 215-0489
Source:
Dominionplace
Added: Aug 18
Changed: Sep 13
Last Checked: Sep 13 at 2:00PM
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 United Real Estate Partners
Investment Insights
Based on property information with market context.
This commercial storefront property contains 1,981 square feet and was built in 1990. The building presents a professional appearance and includes front-facing parking, supporting a customer-oriented retail setting.
The property is located at 1242 S Morrison Boulevard P in Hammond, Louisiana, along Hwy 51. Access to both I-12 and I-55 connects the site with regional transportation routes and places it within a commercial corridor serving the area.
The property is located at 1242 S Morrison Boulevard P in Hammond, Louisiana, along Hwy 51. Access to both I-12 and I-55 connects the site with regional transportation routes and places it within a commercial corridor serving the area.
Key Highlights
- 1,981‑square‑foot commercial storefront property
- Built in 1990
- Located on Hwy 51
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
$19,864
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
6.11%
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%
$397,280
$397.3K
Cap Rate 7%
$283,771
$283.8K
Cap Rate 9%
$220,711
$220.7K
Market Conditions
NOI Build-Up for 1,981 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
$29.7K $15.00/SF
− Vacancy
−$1.3K −$0.68/SF
EGI
$28.4K $14.33/SF
− OpEx
−$8.5K −$4.30/SF
NOI
$19.9K $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%
$397,280
Cap Rate 7%
$283,771
Cap Rate 9%
$220,711
Alternative Uses
Best Use
Retail
$283.8K
$248.3K – $331.1K
NOI $19,864 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$546.1K
$477.8K – $637.1K
NOI $38,227 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
Under-served
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 Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Lady Di’s Florist — 512 J W Davis Dr STE A, Hammond, LA 70403
Frequently Asked Questions
What type of property is this?
Storefront property - Established storefront property with frontage on Hwy 51 and access to I-12 and I-55.
Where is this storefront property located?
The property is located at 1242 S Morrison Boulevard P Hammond, LA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,981‑square‑foot commercial storefront property; Built in 1990; Located on Hwy 51
