Self-Storage Facility with
For Sale
$460,000
1300-1308 W W Thomas Street, Hammond, LA 70401
Built in 1964, the property includes two occupied units, available storage spaces, and a large parking lot.
Property Size5,625 SF
Days on Market158
Property Features for 1300-1308 W W Thomas Street
General Information
Standard status
Active
Size
5,625 SF
Property subtype
Commercial
Zoning
COM
Building Details
Building Size
5,625 SF
Year Built
1964
Listing Agency:
Keller Williams Realty Services
(985) 215-3100
Listed By:
Will Frederick · License #912124137
(985) 215-3100
Source:
Nolalivingrealty
Added: Mar 19
Changed: Aug 18
Last Checked: Aug 22 at 1:44PM
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 Keller Williams Realty Services
Investment Insights
Based on property information with market context.
This self-storage facility at 1300-1308 W W Thomas Street includes two tenant-occupied units and 14 available storage spaces. The property also features a large parking lot, supporting on-site access for users and daily operations.
Constructed in 1964, the facility is located in Hammond, Louisiana. The property is designated COM under its stated zoning classification.
Constructed in 1964, the facility is located in Hammond, Louisiana. The property is designated COM under its stated zoning classification.
Key Highlights
- 14 available storage spaces
- Two tenant‑occupied units
- Large parking lot
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
$33,501
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
7.28%
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%
$670,020
$670.0K
Cap Rate 7%
$478,586
$478.6K
Cap Rate 9%
$372,233
$372.2K
Market Conditions
NOI Build-Up for 5,625 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
$52.7K $9.36/SF
− Vacancy
−$4.8K −$0.85/SF
EGI
$47.9K $8.51/SF
− OpEx
−$14.4K −$2.55/SF
NOI
$33.5K $5.96/SF
Area
Tangipahoa County, LA
Vacancy
9.10%
Lease Rate
$9.36 /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%
$670,020
Cap Rate 7%
$478,586
Cap Rate 9%
$372,233
Alternative Uses
Best Use
Self Storage
$478.6K
$418.8K – $558.4K
NOI $33,501 @ 7.0% cap · market cap 7.28%
Second Best
Warehouse
$393.0K
$343.9K – $458.5K
NOI $27,508 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,543 @ 7.0% cap · market cap 23.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
813
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 Industrial 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?
Self storage facility - Built in 1964, the property includes two occupied units, available storage spaces, and a large parking lot.
Where is this self storage facility located?
The property is located at 1300-1308 W W Thomas Street Hammond, LA.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: 14 available storage spaces; Two tenant‑occupied units; Large parking lot
