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    Versatile Commercial Property in Hammond Title is generated by Realmo AI

    210 Hewitt Rd, Hammond, LA 70403

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    10,200 SF commercial building ideal for various business needs.

    Type:Industrial, Mixed Use, Retail
    Property size:
    10,200 SF
    Lot size:
    0.80 Acres
    Price / SF:
    $127/SF
    Added:
    May 23, 2024
    Days on Market:
    738
    Last Refresh:
    May 12 at 9:51 pm

    Property Features for 210 Hewitt Rd

    General Information

    Standard status
    Active
    Size
    10,200 SF
    Lot size
    0.80 Acres
    Property subtype
    Industrial, Mixed Use, Retail

    Building Details

    Year Built
    2009

    We can help!

    Listing Contact
    Michael Saucier
    Michael Saucier

    Listing agent Michael Saucier License #LA-995681677

    Listing office Gulf States Real Estate

    Listing date May 23, 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 Gulf States Real Estate

    HighLights

    • Large, versatile 10,200 sq ft commercial building with 9,400 sq ft of air‑conditioned warehouse space.
    • Strategically located on a busy corner lot in Hammond, Louisiana.
    • High ridge line roof (up to 30 ft) suitable for various uses including indoor sports or high‑shelving.
    • Features including a grease trap, three restrooms, three‑phase power, and four roll‑up doors.
    • Can be divided into two units (minimum 4,000 sq ft) offering flexible usage options.
    • Built in 2009 and wired with electrical outlets along interior walls.

    Overview

    Located on a busy corner lot in Hammond, Louisiana, this 10,200-square-foot commercial property, constructed in 2009, is suitable for a variety of business needs. The building includes 9,400 square feet of fully air-conditioned warehouse space and 800 square feet of office space, situated on a 0.80-acre lot. The property features a high ridge line roof with eaves ranging 20 feet, reaching approximately 30 feet at its peak, making it suitable for indoor sports or high-shelving units. Key features include a grease trap for restaurant use, three restrooms, three-phase power, and four roll-up doors. The building is wired with electrical outlets along the interior walls, suitable for workbenches or other equipment. It also has two electrical panels and can be divided into two units, with a minimum of 4,000 square feet. This versatile and strategically located property presents an opportunity for businesses seeking a location in Hammond.
    Property Profile Location Intelligence

    Current Use by Public Records

    Skippy's Bounce Around Arcade & Gaming Center

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Hammond
    County
    Tangipahoa
    State
    Louisiana
    Longitude
    -90.4590833
    Latitude
    30.4903423

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    FAQs

    What type of property is this?
    Flex space - 10,200 SF commercial building ideal for various business needs.
    Where is this flex space located?
    The property is located at 210 Hewitt Rd Hammond, LA.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: Large, versatile 10,200 sq ft commercial building with **9,400 sq ft of air‑conditioned warehouse space**.; Strategically located on a busy corner lot in Hammond, Louisiana.; **High ridge line roof (up to 30 ft) suitable for various uses** including indoor sports or high‑shelving.
    (985) 705-1727 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Michael Saucier
    Michael Saucier
    Real Estate License ID: LA-995681677
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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