Flex Space with
For Sale
$734,000
955 S Morrison Boulevard, Hammond, LA 70403
Conditioned office and showroom areas are paired with substantial warehouse and storage capacity.
Property Size12,582 SF
Lot Size2.60 Acres
Price / SF$58.34
Days on Market65
Property Features for 955 S Morrison Boulevard
General Information
Standard status
Active
Size
12,582 SF
Lot size
2.60 Acres
Property subtype
Commercial
Zoning
C-HRS3
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Warehouse Space
8,160 SF
Mezzanine
1,110 SF
Conditioned Warehouse
No
Building Details
Building Size
12,582 SF
Year Built
1990
Buildings
1
Stories
2
Listing Agency:
Cypress Key Realty LLC
Listed By:
Christopher Romero
(504) 250-4848
Source:
Cypresskeyrealty
Added: Aug 20
Changed: Oct 23
Last Checked: Oct 23 at 6:01PM
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 Cypress Key Realty LLC
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Investment Insights
Based on property information with market context.
This flex property combines conditioned office and showroom space with separate warehouse and storage areas. Approximately 4,422 SF is configured for offices, a lobby, showroom use, bathrooms, and storage. An additional approximately 8,160 SF of warehouse and storage space is not heated or cooled. The warehouse areas have approximately 18-foot eave height, and an approximately 1,110 SF loft adds further usable area.
The approximately 2.60-acre site fronts S. Morrison Boulevard/US-51 and extends to Lovett Street, where it has approximately 191 feet of additional frontage. I-55 is approximately 1.2 miles away, and I-12 is approximately 1.8 miles away. The property was built in 1990.
The approximately 2.60-acre site fronts S. Morrison Boulevard/US-51 and extends to Lovett Street, where it has approximately 191 feet of additional frontage. I-55 is approximately 1.2 miles away, and I-12 is approximately 1.8 miles away. The property was built in 1990.
Key Highlights
- Approximately 2.60‑acre site with frontage on S. Morrison Boulevard/US‑51
- Approximately 4,422 SF of conditioned office and showroom space
- Approximately 8,160 SF of additional non‑heated/cooled warehouse and storage area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,530
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,230,600
$1.2M
Cap Rate 7%
$879,000
$879.0K
Cap Rate 9%
$683,667
$683.7K
Market Conditions
NOI Build-Up for 12,582 SF
Gross rent
$78.5K $6.24/SF
− Vacancy
−$6.1K −$0.49/SF
EGI
$72.4K $5.75/SF
− OpEx
−$10.9K −$0.86/SF
NOI
$61.5K $4.89/SF
Area
Tangipahoa County, LA
Vacancy
7.80%
Lease Rate
$6.24 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,230,600
Cap Rate 7%
$879,000
Cap Rate 9%
$683,667
Alternative Uses
Best Use
Retail
$1.80M
$1.58M – $2.10M
NOI $126,166 @ 7.0% cap · market cap 17.19%
Second Best
Flex RnD
$1.10M
$961.8K – $1.28M
NOI $76,941 @ 7.0% cap · market cap 10.48%
Theoretical Best
Office A
$3.47M
$3.03M – $4.05M
NOI $242,790 @ 7.0% cap · market cap 33.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
562
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70403, LA
29,737
Population
13,577
Households
2.2
Avg Household Size
37
Median Age
24%
College-Educated
84%
High-School Grad
42.3 sq mi
ZIP Area
703
Density / Sq Mi
$50,547
Median Household Income
$32,603
Median Earnings
$992
Median Rent
$207,600
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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Frequently Asked Questions
What type of property is this?
Flex space - Conditioned office and showroom areas are paired with substantial warehouse and storage capacity.
Where is this flex space located?
The property is located at 955 S Morrison Boulevard Hammond, LA.
What is the asking price?
The asking price for this property is $734,000.
What are key features of this property?
This property features: Approximately 2.60‑acre site with frontage on S. Morrison Boulevard/US‑51; Approximately 4,422 SF of conditioned office and showroom space; Approximately 8,160 SF of additional non‑heated/cooled warehouse and storage area
