Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    University Dr Hammond, LA 70401

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    University Dr Hammond, LA 70401

    View on Map
    • Land
    • 11.36 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 University Dr

    Lot size
    11.36 lot acres
    Property type
    Land

    Description

    This exceptional 11.36-acre commercial land parcel presents a unique investment opportunity in Hammond, Louisiana. Boasting unparalleled visibility from Interstate access, this property enjoys high traffic counts, ensuring maximum exposure for any commercial venture. The land is conveniently located on University Drive in Tangipahoa Parish, zip code 70401, offering immediate access to the interstate, a crucial advantage for businesses requiring convenient transportation links. The asking price for this significant tract is $1,500,000. While the land value per square foot is listed as $0/SF, the strategic location and high visibility significantly outweigh this metric. The property's prime location makes it ideal for a wide range of commercial developments, from retail and restaurants to light industrial and logistics facilities. Further enhancing its appeal, additional surrounding acreage is also available for potential expansion or complementary development. This presents a rare chance to acquire a substantial piece of commercial real estate with exceptional visibility and immediate interstate access in a thriving Louisiana market. Don't miss this opportunity to secure a prime location for your next commercial project.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hammond
    County
    Tangipahoa Parish
    State
    Louisiana
    Longitude
    -90.5036
    Latitude
    30.523

    Comparable in this City

    • Value Estimation by Request

      Morrison Blvd

      Multifamily properties
      0 Morrison Blvd, Hammond, LA 70401
      View Details
    • Value Estimation by Request
      9.69 Acres

      Puma Dr

      Land • 9.69 Acres
      0 Puma Dr, Hammond, LA 70401
      View Details
    • Value Estimation by Request
      35.00 Acres

      Thomas St

      Land • 35.00 Acres
      0 Thomas St, Hammond, LA 70401
      View Details
    • Value Estimation by Request
      2.28 Acres

      14337 University Ave

      Land • 2.28 Acres
      14337 University Ave, Hammond, LA 70401
      View Details
    • Value Estimation by Request
      1.00 Acre

      17458 Us-190

      Land • 1.00 Acre
      17458 Us-190, Hammond, LA 70401
      View Details
    • Value Estimation by Request
      20.20 Acres

      University Ave

      Land • 20.20 Acres
      0 University Ave, Hammond, LA 70401
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      30 Acres Vacant Land

      30 acres of vacant land on a corner lot.
      Rufus Bankston Rd, Hammond, LA 70401
      View Details
    • Contact for pricing

      Hammond Land Development Opportunity

      143-acre property near airport, ideal for development.
      S Airport Rd, Hammond, LA 70401
      View Details
    • $4,759,820

      Land Available in Hammond, Louisiana

      Land for sale in Tangipahoa Parish, Hammond, Louisiana.
      45043 River Rd, Hammond, LA 70401
      View Details
    • $130,000
      5.82 Acres

      Hammond Land For Sale

      5.8 acre lot in Hammond, Louisiana.
      CS-2 Morris Rd, Hammond, LA 70401
      View Details
    • Contact for pricing
      5.00 Acres

      DeMarco Mixed-Use Tract

      151 Acres, Hammond, LA - Prime Development
      0 Vineyard Rd, Hammond, LA 70401
      View Details
    • Contact for pricing

      Land For Sale Hammond

      Land available for sale in Hammond, Louisiana.
      N Morrison Blvd, Hammond, LA 70401
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      High-Visibility Retail Space Available

      Retail space with high visibility in Hammond's busiest intersection.
      1905 W Thomas St, Hammond, LA 70401
      View Details
    • Contact for pricing

      Secured Land with Metal Building

      2.84 acres of improved, secured land with metal building.
      44530 S Airport Rd, Hammond, LA 70401
      View Details
    • Contact for pricing

      Multi-Unit Industrial Complex For Rent

      Versatile warehouse suites near I-55, suitable for various business needs.
      12621 Wardline Rd, Hammond, LA 70401
      View Details
    • Contact for pricing
      2,508 SF

      Medical Office Space Available

      2,508 SF medical office space for rent.
      19184 Dr John Lambert Dr, Hammond, LA 70401
      View Details
    • $5,000 /Mo
      6,000 SF

      Versatile Commercial Space in Hammond

      6,000 sq ft commercial space with warehouse and office.
      109 Tower Dr, Hammond, LA 70401
      View Details
    • $14 SF/Yr

      Retail Space in Hammond Plaza

      Retail space available in a Walmart shadow center.
      2751 W Thomas St, Hammond, LA 70401
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    University Dr
    Hammond, LA 70401
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!