Storefront Retail
For Sale
$325,000
P-1242 S Morrison Blvd, Hammond, LA 70401
Storefront retail opportunity on Hwy 51 with ample front-face parking and multi-use options near I-12 and I-55 access.
Property Size1,981 SF
Price / SF$164.06
Days on Market54
Property Features for P-1242 S Morrison Blvd
General Information
Standard status
Active
Size
1,981 SF
Additional Details
Highway Access
Yes
Listing Agency:
United Real Estate Partners
(985) 256-5500
Listed By:
Jeveen Williams
(985) 215-0489
Source:
Exprealty
Added: Jul 23
Changed: Sep 12
Last Checked: Sep 14 at 9:02AM
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 United Real Estate Partners
Investment Insights
Based on property information with market context.
Storefront retail space at P-1242 S Morrison Blvd in Hammond, Louisiana, positioned for flexible commercial use. The property is described as having a professional appearance and multi-use options, with ample front-face parking for convenient customer access.
Located on highly traveled Hwy 51, the site provides easy access to I-12 and I-55, supported by its placement within a Hammond commercial corridor. The offering is presented as a prime commercial opportunity in the heart of Hammond.
The property size is listed as 1,981, supporting a smaller-format storefront configuration well suited to a range of retail-oriented tenants looking for roadway visibility and straightforward parking access.
Located on highly traveled Hwy 51, the site provides easy access to I-12 and I-55, supported by its placement within a Hammond commercial corridor. The offering is presented as a prime commercial opportunity in the heart of Hammond.
The property size is listed as 1,981, supporting a smaller-format storefront configuration well suited to a range of retail-oriented tenants looking for roadway visibility and straightforward parking access.
Key Highlights
- Storefront retail space at P‑1242 S Morrison Blvd, Hammond, LA
- Located on highly traveled Hwy 51
- Ample front‑face parking for customer access
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
$19,864
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
6.11%
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%
$397,280
$397.3K
Cap Rate 7%
$283,771
$283.8K
Cap Rate 9%
$220,711
$220.7K
Market Conditions
NOI Build-Up for 1,981 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
$29.7K $15.00/SF
− Vacancy
−$1.3K −$0.68/SF
EGI
$28.4K $14.33/SF
− OpEx
−$8.5K −$4.30/SF
NOI
$19.9K $10.03/SF
Area
Tangipahoa County, LA
Vacancy
4.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$397,280
Cap Rate 7%
$283,771
Cap Rate 9%
$220,711
Alternative Uses
Best Use
Retail
$283.8K
$248.3K – $331.1K
NOI $19,864 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$546.1K
$477.8K – $637.1K
NOI $38,227 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
786
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70401, LA
21,014
Population
10,321
Households
2
Avg Household Size
32
Median Age
35%
College-Educated
88%
High-School Grad
34.7 sq mi
ZIP Area
606
Density / Sq Mi
$50,995
Median Household Income
$31,405
Median Earnings
$977
Median Rent
$226,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Lady Di’s Florist — 512 J W Davis Dr STE A, Hammond, LA 70403
Frequently Asked Questions
What type of property is this?
Storefront property - Storefront retail opportunity on Hwy 51 with ample front-face parking and multi-use options near I-12 and I-55 access.
Where is this storefront property located?
The property is located at P-1242 S Morrison Blvd Hammond, LA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Storefront retail space at P‑1242 S Morrison Blvd, Hammond, LA; Located on highly traveled Hwy 51; Ample front‑face parking for customer access
