Storefront Retail
For Sale
$500,000
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$252.40
Days on Market8
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) 215-0489
Listed By:
Jeveen Williams
(985) 215-0489
Source:
Exprealty
Added: Jul 23
Changed: Jul 29
Last Checked: Jul 29 at 12:57PM
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 For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.7k | $15.00 |
| − Vacancy | −$1.3k | −$0.68 |
| EGI | $28.4k | $14.33 |
| − OpEx | −$8.5k | −$4.30 |
| NOI | $19.9k | $10.03 |
1,981 SF · lease $15.00/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$283.8K
$248.3K – $331.1K
NOI $19,864 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$546.1K
$477.8K – $637.1K
NOI $38,227 @ 7.0% cap · market cap 7.65%
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 $500,000.
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
