Auto Shop with Large
For Sale
$519,000
47310 N Morrison Boulevard, Hammond, LA 70401
Commercial building with office space, a residential unit, and substantial outdoor area for parking or operations.
Property Size2,000 SF
Lot Size2.00 Acres
Price / SF$259.50
Days on Market52
Property Features for 47310 N Morrison Boulevard
General Information
Standard status
Active
Size
2,000 SF
Lot size
2.00 Acres
Amenities
Ground-level office space
Second-floor 1-bedroom/1-bathroom residential unit
Large yard area
Building Details
Year Built
2017
Buildings
1
Stories
2
Listing Agency:
Homesmart Realty South
(504) 351-2239
Listed By:
Cecilia Acosta
Source:
Fiorellaavenue
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 29 at 7:15PM
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 Homesmart Realty South
Investment Insights
Based on property information with market context.
This commercial property includes a building constructed in 2017 and approximately 2 acres of land. The layout features ground-level office space, along with a second-floor one-bedroom, one-bathroom residential unit. The building was previously used as an auto body shop and is being offered in its current condition.
A large outdoor area provides space for parking or operational use. The sale includes the land and building only; contents are not included.
A large outdoor area provides space for parking or operational use. The sale includes the land and building only; contents are not included.
Key Highlights
- Commercial building constructed in 2017
- Approximately 2 acres of land
- Previously used as an auto body shop
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
$20,055
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
3.86%
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%
$401,100
$401.1K
Cap Rate 7%
$286,500
$286.5K
Cap Rate 9%
$222,833
$222.8K
Market Conditions
NOI Build-Up for 2,000 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
$30.0K $15.00/SF
− Vacancy
−$1.4K −$0.68/SF
EGI
$28.7K $14.33/SF
− OpEx
−$8.6K −$4.30/SF
NOI
$20.1K $10.03/SF
Area
Tangipahoa County, LA
Vacancy
4.50%
Lease Rate
$15.00 /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%
$401,100
Cap Rate 7%
$286,500
Cap Rate 9%
$222,833
Alternative Uses
Best Use
Retail
$286.5K
$250.7K – $334.3K
NOI $20,055 @ 7.0% cap · market cap 3.86%
Second Best
Mixed Use
$130.6K
$114.2K – $152.3K
NOI $9,139 @ 7.0% cap · market cap 1.76%
Theoretical Best
Office A
$551.3K
$482.4K – $643.2K
NOI $38,593 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Juan And Son Auto Repair. — 47310 N Morrison Blvd, Hammond, LA 70401
- Natalbany Tire & Auto — 14600 LA-1064, Natalbany, LA 70451
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial building with office space, a residential unit, and substantial outdoor area for parking or operations.
Where is this auto shop located?
The property is located at 47310 N Morrison Boulevard Hammond, LA.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: Commercial building constructed in 2017; Approximately 2 acres of land; Previously used as an auto body shop
