Current Use by Public Records
- Eastern Metal Supply / Building Supply / Mill
- The Garden City Group, Inc. / Law Firm
Property Details for 42548 Happywoods Rd
- Year built
- 2008
- Lot size
- 4.92 lot acres
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents a 80,000 square foot industrial property located at 42548 Happywoods Rd, Hammond, LA 70403. The property, built in 2008, sits on a 4.915-acre lot and boasts a 24-foot ceiling height. Currently 100% occupied by Eastern Metal Supply, Inc., a major distributor of aluminum extrusions, under a Net Lease agreement expiring May 31, 2031, with a remaining term of 6.5 years. The lease includes 10% rent escalations every 5 years, providing significant long-term income growth. The property's strategic location within the New Orleans MSA, near major transportation arteries including the Port of South Louisiana (approximately 35 miles away), offers unparalleled access to supply chains and customer markets, minimizing risk and maximizing potential for lease renewal. The asking price is $5,228,758, representing a compelling 7.65% cap rate. This is a below-replacement-cost opportunity with a strong, creditworthy tenant, making it an ideal addition to any diversified portfolio. The property's mission-critical location for Eastern Metal Supply further enhances its investment appeal. This is a rare chance to acquire a high-performing industrial asset with substantial long-term growth potential in a thriving market.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hammond
- County
- Tangipahoa Parish
- State
- Louisiana
- Longitude
- -90.4985
- Latitude
- 30.4739
