Auto Shop with Office and
For Sale
$519,000
47310 N MORRISON Boulevard, Hammond, LA 70401
Commercial, Hammond, LA
Property Size2,000 SF
Lot Size2.00 Acres
Price / SF$259.50
Days on Market182
Property Features for 47310 N MORRISON Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COM
Subdivision
Woodbridge Sub
Lot features
1-5 Acres, Oversized
Standard status
Active
APN
5376602
Size
2,000 SF
Lot size
2.00 Acres
Utilities
Water source
Public
Building Details
Year built
2017
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
Cecilia Acosta
(504) 351-2239
Added: Mar 13
Changed: Aug 19
Last Checked: Sep 10 at 9:06AM
MLS# 2547483
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.
This 2,000-square-foot commercial building in Hammond, Louisiana, was completed in 2017 and occupies approximately 2 acres. The property includes ground-level office space and a second-floor residential unit with one bedroom and one bathroom. Its prior auto body shop use provides context for the existing commercial layout, while the large outdoor area adds functional space around the building.
Located at 47310 N Morrison Boulevard, the property is served by public water. The offering consists of the land and building in their current condition; contents are not included. The yard may accommodate parking or other operational functions, subject to applicable requirements.
Located at 47310 N Morrison Boulevard, the property is served by public water. The offering consists of the land and building in their current condition; contents are not included. The yard may accommodate parking or other operational functions, subject to applicable requirements.
Key Highlights
- 2,000‑square‑foot commercial building completed in 2017
- Approximately 2 acres with a large outdoor yard area
- Ground‑level office space included
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
$30,151
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
5.81%
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%
$603,020
$603.0K
Cap Rate 7%
$430,729
$430.7K
Cap Rate 9%
$335,011
$335.0K
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
$46.8K $23.40/SF
− Vacancy
−$6.6K −$3.30/SF
EGI
$40.2K $20.10/SF
− OpEx
−$10.1K −$5.03/SF
NOI
$30.2K $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%
$603,020
Cap Rate 7%
$430,729
Cap Rate 9%
$335,011
Alternative Uses
Best Use
Office B
$430.7K
$376.9K – $502.5K
NOI $30,151 @ 7.0% cap · market cap 5.81%
Second Best
Retail
$286.5K
$250.7K – $334.3K
NOI $20,055 @ 7.0% cap · market cap 3.86%
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
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Open 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
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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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 - 2017-built property with outdoor space, public water service, and a second-floor residential unit.
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: 2,000‑square‑foot commercial building completed in 2017; Approximately 2 acres with a large outdoor yard area; Ground‑level office space included
