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Hammond Flex-Retail Property For Sale

1517 W Thomas St Hammond, LA 70401

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15,260 SF flex-retail property with high visibility on Hwy 190.

Type:Retail, Office
Property size:
15,260 SF
Price / SF:
$70.45/SF
Added:
May 24, 2024
Days on Market:
782
Last Refresh:
May 12 at 9:42 pm

Property Features for 1517 W Thomas St

General Information

Standard status
Active
Size
15,260 SF
Property subtype
Retail, Office

Building Details

Year Built
1972

Listing office Stirling

Listing date May 24, 2024

Source Crexi

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


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.

Local Financial Insights For Flex RnD

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $146.5k $9.60
− Vacancy −$2.9k −$0.19
EGI $143.6k $9.41
− OpEx −$50.2k −$3.29
NOI $93.3k $6.12
15,260 SF · lease $9.60/SF/yr · vacancy 2.00% · expense 35.00%

Alternative Uses

Best Use
Retail
$2.19M
$1.91M – $2.55M (±1% cap)
NOI $153,020 @ 7.0% cap · market cap 14.23%
Second Best
Flex RnD
$1.33M
$1.17M – $1.56M (±1% cap)
NOI $93,318 @ 7.0% cap · market cap 8.68%
Theoretical Best
Office A
$4.21M
$3.68M – $4.91M (±1% cap)
NOI $294,466 @ 7.0% cap · market cap 27.39%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Flex space

Suggested Use

Parking Lot & Garage Kitchen & Bath Showroom Plumbing Service Garden Center HVAC Service (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Carpet & Flooring Store Veterinary Clinic

Zoning and permitted uses should be independently verified with local authorities.

Similar Off Market Nearby

  • Jaksen's BBQ & Grill Catering — 152 Rosewood Dr, Hammond, LA 70401
  • Firehouse Subs Channell — 1750 W Thomas St Ste A, Hammond, LA 70401

FAQs

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.
Contact an agent
(541) 322-8880 Call to check price and availability
More about this property
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