Versatile Commercial Property in
For Sale
$1,300,000
210 HEWITT Road, Hammond, LA 70403
10,200 SF commercial building ideal for various business needs.
Property Size10,200 SF
Lot Size0.80 Acres
Price / SF$127.45
Days on Market829
Property Features for 210 HEWITT Road
General Information
Standard status
Active
Size
10,200 SF
Lot size
0.80 Acres
Property subtype
COMMERCIAL
Building Details
Building Size
10,200 SF
Year Built
2009
Listing Agency:
Gulf States Real Estate Services of Louisiana, L.L
(985) 705-1727
Listed By:
Stuart Ridgel · License #995703353
Source:
Burkbrokerage
Added: May 22, 2024
Changed: Aug 23
Last Checked: Aug 26 at 1:45PM
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 Gulf States Real Estate Services of Louisiana, L.L
Investment Insights
Based on property information with market context.
Located on a busy corner lot in Hammond, Louisiana, this 10,200-square-foot commercial property, constructed in 2009, is suitable for a variety of business needs. The building includes 9,400 square feet of fully air-conditioned warehouse space and 800 square feet of office space, situated on a 0.80-acre lot. The property features a high ridge line roof with eaves ranging 20 feet, reaching approximately 30 feet at its peak, making it suitable for indoor sports or high-shelving units. Key features include a grease trap for restaurant use, three restrooms, three-phase power, and four roll-up doors. The building is wired with electrical outlets along the interior walls, suitable for workbenches or other equipment. It also has two electrical panels and can be divided into two units, with a minimum of 4,000 square feet. This versatile and strategically located property presents an opportunity for businesses seeking a location in Hammond.
Key Highlights
- Large, versatile 10,200 sq ft commercial building with 9,400 sq ft of air‑conditioned warehouse space.
- Strategically located on a busy corner lot in Hammond, Louisiana.
- High ridge line roof (up to 30 ft) suitable for various uses** including indoor sports or high‑shelving.
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
$62,375
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
4.80%
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%
$1,247,500
$1.2M
Cap Rate 7%
$891,071
$891.1K
Cap Rate 9%
$693,056
$693.1K
Market Conditions
NOI Build-Up for 10,200 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
$97.9K $9.60/SF
− Vacancy
−$2.0K −$0.19/SF
EGI
$96.0K $9.41/SF
− OpEx
−$33.6K −$3.29/SF
NOI
$62.4K $6.12/SF
Area
Tangipahoa County, LA
Vacancy
2.00%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
35.00%
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%
$1,247,500
Cap Rate 7%
$891,071
Cap Rate 9%
$693,056
Alternative Uses
Best Use
Flex RnD
$891.1K
$779.7K – $1.04M
NOI $62,375 @ 7.0% cap · market cap 4.80%
Second Best
Industrial
$616.0K
$539.0K – $718.6K
NOI $43,118 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$2.81M
$2.46M – $3.28M
NOI $196,825 @ 7.0% cap · market cap 15.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
638
Businesses Nearby
Under-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
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?
Flex space - 10,200 SF commercial building ideal for various business needs.
Where is this flex space located?
The property is located at 210 HEWITT Road Hammond, LA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Large, versatile 10,200 sq ft commercial building with **9,400 sq ft of air‑conditioned warehouse space**.; Strategically located on a busy corner lot in Hammond, Louisiana.; High ridge line roof (up to 30 ft) suitable for various uses** including indoor sports or high‑shelving.
