Mixed-Use Building With
For Sale
$545,000
904 W Thomas St, Hammond, LA 70401
Two-level configuration pairs flexible office areas with two residential apartments above.
Property Size3,127 SF
Price / SF$174.29
Days on Market29
Property Features for 904 W Thomas St
General Information
Standard status
Active
Size
3,127 SF
Additional Details
Multifamily Units
2
Building Details
Year Built
2009
Stories
2
Listing Agency:
Crescent Commercial Real Estate, LLC
(985) 320-2549
Listed By:
Frankie Cali · License #000051187
Source:
Dominionplace
Added: Aug 3
Changed: Aug 30
Last Checked: Aug 30 at 8:20PM
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 Crescent Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
Built in 2009, this 3,127-square-foot mixed-use building combines professional space with residential accommodations. The ground floor includes two reception or office areas, a conference room, break room, and two additional offices, creating a practical layout for business operations or multiple occupants. Two apartments are positioned on the upper level, adding a residential component within the same structure.
The property is located at 904 W Thomas St in Hammond, Louisiana. Its combination of office rooms, shared support areas, and upstairs apartments supports a range of mixed-use occupancy configurations.
The property is located at 904 W Thomas St in Hammond, Louisiana. Its combination of office rooms, shared support areas, and upstairs apartments supports a range of mixed-use occupancy configurations.
Key Highlights
- 3,127‑square‑foot mixed‑use building constructed in 2009
- Two reception or office areas on the ground floor
- Conference room and break room 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
$47,141
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
8.65%
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%
$942,820
$942.8K
Cap Rate 7%
$673,443
$673.4K
Cap Rate 9%
$523,789
$523.8K
Market Conditions
NOI Build-Up for 3,127 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
$73.2K $23.40/SF
− Vacancy
−$10.3K −$3.30/SF
EGI
$62.9K $20.10/SF
− OpEx
−$15.7K −$5.03/SF
NOI
$47.1K $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%
$942,820
Cap Rate 7%
$673,443
Cap Rate 9%
$523,789
Alternative Uses
Best Use
Office B
$673.4K
$589.3K – $785.7K
NOI $47,141 @ 7.0% cap · market cap 8.65%
Second Best
Mixed Use
$204.1K
$178.6K – $238.2K
NOI $14,289 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$862.0K
$754.3K – $1.01M
NOI $60,340 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,150
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level configuration pairs flexible office areas with two residential apartments above.
Where is this mixed-use property located?
The property is located at 904 W Thomas St Hammond, LA.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: 3,127‑square‑foot mixed‑use building constructed in 2009; Two reception or office areas on the ground floor; Conference room and break room included
