Corner-Lot Car Wash
For Sale
$230,000
1807 N Morrison Boulevard, Hammond, LA 70401
Car wash property positioned on a corner parcel in Hammond, Louisiana.
Property Size769 SF
Price / SF$299.09
Days on Market40
Property Features for 1807 N Morrison Boulevard
General Information
Standard status
Active
Size
769 SF
Building Details
Year Built
1999
Listing Agency:
Simply Real Estate LLC
(985) 348-0007
Listed By:
Tasha Lamkin-Dameron · License #995685504
Source:
Fiorellaavenue
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 28 at 7:57AM
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 car wash property occupies a corner parcel at 1807 N Morrison Boulevard in Hammond, Louisiana. The record identifies a property size of 769 and a 1999 construction year. Its classification as a car wash asset provides a clear basis for evaluating the existing commercial property and its site characteristics.
Key Highlights
- Corner‑lot car wash property
- 1807 N Morrison Boulevard, Hammond, LA 70401
- Property size: 769
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
$10,575
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
4.60%
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%
$211,500
$211.5K
Cap Rate 7%
$151,071
$151.1K
Cap Rate 9%
$117,500
$117.5K
Market Conditions
NOI Build-Up for 769 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
$14.8K $19.20/SF
− Vacancy
−$664 −$0.86/SF
EGI
$14.1K $18.34/SF
− OpEx
−$3.5K −$4.58/SF
NOI
$10.6K $13.75/SF
Area
Tangipahoa County, LA
Vacancy
4.50%
Lease Rate
$19.20 /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%
$211,500
Cap Rate 7%
$151,071
Cap Rate 9%
$117,500
Alternative Uses
Best Use
Specialty Retail
$151.1K
$132.2K – $176.3K
NOI $10,575 @ 7.0% cap · market cap 4.60%
Second Best
Retail
$110.2K
$96.4K – $128.5K
NOI $7,711 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$212.0K
$185.5K – $247.3K
NOI $14,839 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
353
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Car wash property positioned on a corner parcel in Hammond, Louisiana.
Where is this car wash located?
The property is located at 1807 N Morrison Boulevard Hammond, LA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Corner‑lot car wash property; 1807 N Morrison Boulevard, Hammond, LA 70401; Property size: 769
