Hammond Flex-Retail Property For
For Sale
$1,075,000
1517 W Thomas St, Hammond, LA 70401
15,260 SF flex-retail property with high visibility on Hwy 190.
Property Size15,260 SF
Price / SF$70.45
Days on Market917
Property Features for 1517 W Thomas St
General Information
Standard status
Active
Size
15,260 SF
Property subtype
Retail
Zoning
B-2
Amenities
Power
Water
Sewer
Building Details
Year Built
1972
Listing Agency:
Stirling Covington/Corporate
Listed By:
Bradley Cook · License #995712511
(225) 505-6009
Source:
Lacdb.resimplifi
Added: Apr 10, 2024
Changed: Oct 2
Last Checked: Oct 12 at 4:37PM
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 Stirling Covington/Corporate
Investment Insights
Based on property information with market context.
Located at 1517 West Thomas Street in Hammond, LA, this 15,260 square-foot flex-retail property benefits from its location along LA Hwy 190, a major retail thoroughfare. The property is a few miles from both Interstate 12 and Interstate 55, providing convenient access to major transportation routes. Its location is enhanced by its proximity to downtown Hammond and Southeastern Louisiana University. The building features a large sign along West Thomas Street (Hwy 190), increasing its visibility to traffic. The outgoing tenant, The Estate Center, operated for nearly 15 years as a consignment and furniture store, establishing the site as a recognizable landmark within the community. The building's current layout is partially subdivided into three units with multiple entrances and exit points and a rear roll-up door, offering the ability to split into multiple suites. This property offers ample space for various potential uses.
Key Highlights
- Excellent location on LA Hwy 190, a major retail thoroughfare.
- 15,260 square feet of flex‑retail space suitable for various uses.
- Convenient access to Interstate 12 and Interstate 55.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,318
Cap Rate
8.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,866,360
$1.9M
Cap Rate 7%
$1,333,114
$1.3M
Cap Rate 9%
$1,036,867
$1.0M
Market Conditions
NOI Build-Up for 15,260 SF
Gross rent
$146.5K $9.60/SF
− Vacancy
−$2.9K −$0.19/SF
EGI
$143.6K $9.41/SF
− OpEx
−$50.2K −$3.29/SF
NOI
$93.3K $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 Rate 5%
$1,866,360
Cap Rate 7%
$1,333,114
Cap Rate 9%
$1,036,867
Alternative Uses
Best Use
Retail
$2.19M
$1.91M – $2.55M
NOI $153,020 @ 7.0% cap · market cap 14.23%
Second Best
Flex RnD
$1.33M
$1.17M – $1.56M
NOI $93,318 @ 7.0% cap · market cap 8.68%
Theoretical Best
Office A
$4.21M
$3.68M – $4.91M
NOI $294,466 @ 7.0% cap · market cap 27.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
742
Businesses Nearby
Under-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 Industrial in South region
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Similar Off Market Nearby
- Firehouse Subs Channell — 1750 W Thomas St Ste A, Hammond, LA 70401
- Jaksen's BBQ & Grill Catering — 152 Rosewood Dr, Hammond, LA 70401
Frequently Asked Questions
What type of property is this?
Flex space - 15,260 SF flex-retail property with high visibility on Hwy 190.
Where is this flex space located?
The property is located at 1517 W Thomas St Hammond, LA.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Excellent location on LA Hwy 190, a major retail thoroughfare.; 15,260 square feet of flex‑retail space suitable for various uses.; Convenient access to Interstate 12 and Interstate 55.
