Flex Building with Warehouse
For Sale
$734,000
955 S MORRISON Boulevard, Hammond, LA 70403
Commercial Sale, Hammond, LA
Property Size12,583 SF
Lot Size2.60 Acres
Price / SF$58.33
Days on Market65
Property Features for 955 S MORRISON Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-HRS3
Parking
3
Parking features
Parking Lot
Directions
From HYW 190 go south on S. Morrison, prop is on left behind Northlake Auto
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
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1990
Floors in Building
2
Building materials
Metal Siding
Buildings
1
Listing Agency:
RE/MAX Alliance · RE/MAX International
(985) 626-1561
Listed By:
Amanda K Bennett · License #995692258
(985) 320-1819
Added: Aug 20
Changed: Oct 23
Last Checked: Oct 23 at 9:06PM
MLS# 2573303
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 12,583-square-foot flex property on approximately 2.60 acres combines conditioned office and showroom areas with warehouse and storage space. Approximately 4,422 square feet is heated and air-conditioned, with offices, a lobby, restrooms, and showroom space. The building also contains approximately 8,160 square feet of unconditioned warehouse and storage area, plus an approximately 1,110-square-foot loft. Warehouse eaves reach approximately 18 feet. The property was built in 1990, has metal siding, and includes a parking lot, public water, and public sewer.
The 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 is located in Hammond, Louisiana.
The 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 is located in Hammond, Louisiana.
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 / Yr
$61,534
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
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
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%
$1,230,680
Cap Rate 7%
$879,057
Cap Rate 9%
$683,711
Alternative Uses
Best Use
Retail
$1.80M
$1.58M – $2.10M
NOI $126,176 @ 7.0% cap · market cap 17.19%
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.
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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
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Firehouse Subs Channell — 1750 W Thomas St Ste A, Hammond, LA 70401
Frequently Asked Questions
What type of property is this?
Flex space - Office, showroom, storage, and warehouse areas are arranged across a commercial property with public water and sewer.
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
