Highway-Access Flex
New
For Sale
$734,000
955 S MORRISON Boulevard, Hammond, LA 70403
Commercial, Hammond, LA
Property Size12,583 SF
Lot Size2.60 Acres
Price / SF$58.33
Days on Market1
Property Features for 955 S MORRISON Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-HRS3
Parking features
Garage
Subdivision
Not a Subdivision
Lot features
1-5 Acres
Standard status
Active
APN
4640306
Lot size
2.60 Acres
Taxes and HOA fees
Tax Description
2.60A BEING TR A BEING A RESUB OF LOTS 1-2-3-4 IN BLK 3 OF OAKRIDGE ADD IN SEC 26
Legal Description
2.60A BEING TR A BEING A RESUB OF LOTS 1-2-3-4 IN BLK 3 OF OAKRIDGE ADD IN SEC 26
Utilities
Water source
Public
Building Details
Year built
1990
Floors in Building
2
Listing Agency:
REMAX ALLIANCE · RE/MAX International
(985) 626-1561
Listed By:
Amanda Bennett · License #0995692258
(985) 320-1819
Added: Aug 20
Last Checked: Aug 20 at 6:06PM
MLS# 2573303
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property includes a 12,583 SF commercial building on approximately 2.60 acres. Approximately 4,422 SF is dedicated to AC/heated office and showroom space with multiple offices, a lobby, bathrooms, and storage. The remaining approximately 8,160 SF provides non-heated/cooled warehouse and storage area, including open space with approximately 18-foot eave height and an approximately 1,110 SF loft.
The property is positioned along S. Morrison Blvd./US-51, approximately 1.2 miles from I-55 and approximately 1.8 miles from I-12. It extends to Lovett Street with approximately 191 feet of additional street frontage. Zoning includes C-H Commercial Highway and a portion identified as RS-3; zoning boundaries and permitted uses should be verified with the appropriate governing authority.
The property is positioned along S. Morrison Blvd./US-51, approximately 1.2 miles from I-55 and approximately 1.8 miles from I-12. It extends to Lovett Street with approximately 191 feet of additional street frontage. Zoning includes C-H Commercial Highway and a portion identified as RS-3; zoning boundaries and permitted uses should be verified with the appropriate governing authority.
Key Highlights
- 12,583 SF commercial building on approximately 2.60 acres
- Approximately 4,422 SF of AC/heated office and showroom space
- Approximately 8,160 SF of non‑heated/cooled warehouse and storage area
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
$61,534
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
8.38%
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%
$1,230,680
$1.2M
Cap Rate 7%
$879,057
$879.1K
Cap Rate 9%
$683,711
$683.7K
Market Conditions
NOI Build-Up for 12,583 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
$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 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%
$1,230,680
Cap Rate 7%
$879,057
Cap Rate 9%
$683,711
Alternative Uses
Best Use
Office B
$2.71M
$2.37M – $3.16M
NOI $189,694 @ 7.0% cap · market cap 25.84%
Second Best
Flex RnD
$1.10M
$961.9K – $1.28M
NOI $76,948 @ 7.0% cap · market cap 10.48%
Theoretical Best
Office A
$3.47M
$3.04M – $4.05M
NOI $242,809 @ 7.0% cap · market cap 33.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial layout combines conditioned offices and showroom areas 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: 12,583 SF commercial building on approximately 2.60 acres; Approximately 4,422 SF of AC/heated office and showroom space; Approximately 8,160 SF of non‑heated/cooled warehouse and storage area
