Medical Office with Covered
New
For Sale
$495,000
15739 PROFESSIONAL Plaza, Hammond, LA 70403
Commercial, Hammond, LA
Property Size2,278 SF
Lot Size0.26 Acres
Price / SF$217.30
Days on Market1
Property Features for 15739 PROFESSIONAL Plaza
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMM
Subdivision
Not a Subdivision
Lot features
Regular
Standard status
Active
APN
02977001
Size
2,278 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Description
LOT 5-A BEING THE W 90 FT OF LOT 5 PROFESSIONAL PLAZA IN SEC 1 T7SR7E HMD B450 P574 B461 P846 B750 P441 B939 P450 B1002 P305-310 B1455 P671 B1515 P250 MAP 1515/250
Legal Description
LOT 5-A BEING THE W 90 FT OF LOT 5 PROFESSIONAL PLAZA IN SEC 1 T7SR7E HMD B450 P574 B461 P846 B750 P441 B939 P450 B1002 P305-310 B1455 P671 B1515 P250 MAP 1515/250
Utilities
Water source
Public
Building Details
Year built
1978
Floors in Building
1
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(985) 951-2324
Listed By:
Catherine Eppling · License #72052
(985) 807-4238
Added: Sep 22
Last Checked: Sep 22 at 5:06PM
MLS# 2578119
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 15739 Professional Plaza in Hammond, this 2,278-square-foot medical office is arranged for professional operations and patient-facing use. The interior includes a reception area, waiting room, several offices, a conference room, and a kitchen and break area. A covered drive-up entry adds weather protection for arrivals, while an elaborate security system supports the property’s operational setup.
The property occupies 0.2571 acres and includes ample parking for patients, staff, and visitors. Built in 1978, it is served by public water and carries COMM zoning. The layout and existing improvements provide a structured setting for a medical practice, specialty clinic, physician group, or other professional use.
The property occupies 0.2571 acres and includes ample parking for patients, staff, and visitors. Built in 1978, it is served by public water and carries COMM zoning. The layout and existing improvements provide a structured setting for a medical practice, specialty clinic, physician group, or other professional use.
Key Highlights
- 2,278 SF medical office at 15739 Professional Plaza, Hammond, LA 70403
- Reception area, waiting room, several offices, conference room, and kitchen/break area
- Covered drive‑up entrance for patient, staff, and visitor access
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
$34,342
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
6.94%
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%
$686,840
$686.8K
Cap Rate 7%
$490,600
$490.6K
Cap Rate 9%
$381,578
$381.6K
Market Conditions
NOI Build-Up for 2,278 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
$53.3K $23.40/SF
− Vacancy
−$7.5K −$3.30/SF
EGI
$45.8K $20.10/SF
− OpEx
−$11.4K −$5.03/SF
NOI
$34.3K $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%
$686,840
Cap Rate 7%
$490,600
Cap Rate 9%
$381,578
Alternative Uses
Best Use
Office B
$490.6K
$429.3K – $572.4K
NOI $34,342 @ 7.0% cap · market cap 6.94%
Second Best
Healthcare Medical
$385.9K
$337.7K – $450.2K
NOI $27,013 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$628.0K
$549.5K – $732.6K
NOI $43,958 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
Well-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Professionally configured medical space with reception, waiting, offices, conference room, kitchen area, security, and COMM zoning.
Where is this medical office space located?
The property is located at 15739 PROFESSIONAL Plaza Hammond, LA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,278 SF medical office at 15739 Professional Plaza, Hammond, LA 70403; Reception area, waiting room, several offices, conference room, and kitchen/break area; Covered drive‑up entrance for patient, staff, and visitor access
