Updated Professional Office
For Sale
$199,000
15752 Professional Plaza, Hammond, LA 70403
A remodeled office property with an active lease extending through December 31, 2027.
Property Size959 SF
Days on Market168
Property Features for 15752 Professional Plaza
General Information
Standard status
Active
Size
959 SF
Property subtype
Commercial
Zoning
COMM
Building Details
Building Size
959 SF
Year Built
1978
Stories
1
Listing Agency:
Simply Real Estate LLC
(985) 348-0007
Listed By:
Tasha Lamkin-Dameron · License #995685504
Source:
Nolalivingrealty
Added: Feb 25
Changed: Aug 4
Last Checked: Aug 12 at 12:57PM
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.
This 1978 office building has been remodeled and is located within Professional Plaza at 15752 Professional Plaza in Hammond, Louisiana. The property is currently occupied under a lease with a State Senator that runs through December 31, 2027.
The site carries COMM zoning and includes a spacious lot with room for expansion or additional development. Its existing office configuration, updated condition, and defined lease term provide a straightforward commercial ownership profile.
The site carries COMM zoning and includes a spacious lot with room for expansion or additional development. Its existing office configuration, updated condition, and defined lease term provide a straightforward commercial ownership profile.
Key Highlights
- Remodeled office building originally constructed in 1978
- Current lease extends through December 31, 2027
- Leased to a State Senator
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
$14,457
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
7.26%
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%
$289,140
$289.1K
Cap Rate 7%
$206,529
$206.5K
Cap Rate 9%
$160,633
$160.6K
Market Conditions
NOI Build-Up for 959 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
$22.4K $23.40/SF
− Vacancy
−$3.2K −$3.30/SF
EGI
$19.3K $20.10/SF
− OpEx
−$4.8K −$5.03/SF
NOI
$14.5K $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%
$289,140
Cap Rate 7%
$206,529
Cap Rate 9%
$160,633
Alternative Uses
Best Use
Office B
$206.5K
$180.7K – $241.0K
NOI $14,457 @ 7.0% cap · market cap 7.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$264.4K
$231.3K – $308.4K
NOI $18,505 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
835
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
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?
Office building - A remodeled office property with an active lease extending through December 31, 2027.
Where is this office building located?
The property is located at 15752 Professional Plaza Hammond, LA.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Remodeled office building originally constructed in 1978; Current lease extends through December 31, 2027; Leased to a State Senator
