Retail Space with Front-Face
For Sale
Contact for pricing
1242 South Morrison Boulevard, Hammond, LA 70403
Retail space built in 1990 with ample front-face parking and multi-use options near major interstate access in Hammond.
Property Size1,981 SF
Price / SF$201.92
Days on Market98
Property Features for 1242 South Morrison Boulevard
General Information
Standard status
Active
Size
1,981 SF
Property subtype
Retail
Zoning
CM-X
Additional Details
Highway Access
Yes
Building Details
Year Built
1990
Listing Agency:
United Real Estate Partner
Listed By:
Tom Bookhardt · License #995716142
(504) 452-7631
Source:
Crexi
Added: Jul 27
Changed: Sep 13
Last Checked: Nov 1 at 6:17AM
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 Partner
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Investment Insights
Based on property information with market context.
Retail space built in 1990 offering multi-use options for the right buyer or operator. The property includes front-face parking and a professional appearance, providing a straightforward retail setting with convenient on-site access.
Located on highly traveled Hwy 51 in Hammond, the site is positioned within a fast-evolving commercial corridor. Access to I-12 and I-55 is available nearby, supporting connectivity for both customers and employees.
For users looking for a retail-oriented facility with flexible use considerations and convenient highway/interstate access, this property is worth reviewing.
Located on highly traveled Hwy 51 in Hammond, the site is positioned within a fast-evolving commercial corridor. Access to I-12 and I-55 is available nearby, supporting connectivity for both customers and employees.
For users looking for a retail-oriented facility with flexible use considerations and convenient highway/interstate access, this property is worth reviewing.
Key Highlights
- Built in 1990
- Located on highly traveled Hwy 51 in Hammond
- Ample front‑face parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,864
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
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
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 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 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$546.1K
$477.8K – $637.1K
NOI $38,227 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Retail space built in 1990 with ample front-face parking and multi-use options near major interstate access in Hammond.
Where is this retail space located?
The property is located at 1242 South Morrison Boulevard Hammond, LA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Built in 1990; Located on highly traveled Hwy 51 in Hammond; Ample front‑face parking
