1000 Coleman Ave Hammond, LA 70403-3922

Property Details for 1000 Coleman Ave

Year built

2013

Lot size

0.33 lot acres

Property size

5,000 SF

Property type

Commercial real estate

APN

3123618

APU

3123618

Description

This exceptional 5,000-square-foot flex warehouse/industrial property in Hammond, Louisiana, presents a compelling owner-user or investment opportunity. Located on a 0.46-acre lot at 1000 W Coleman Ave, 70403, this single-story building boasts a 100% occupancy rate with a strong, long-term tenant (Fastenal) under a 7-year NNN lease commencing October 31, 2024, and expiring November 30, 2031, including rent bumps. The property features two loading docks, ten parking spaces, and a fenced, stabilized gravel yard of approximately 9,100 square feet with multiple gates. Inside, the renovated (2022) space includes two offices, a conference room, a breakroom, and two bathrooms. An upstairs apartment with a full kitchen and bathroom adds further versatility. The asking price is $656,250, representing a price per square foot of $131.25 and an 8.00% cap rate with a net operating income (NOI) of $52,500. The property is zoned C-2 and offers convenient access to downtown Hammond. This turnkey investment provides a stable income stream and significant upside potential. The property's features, strong tenant, and prime location make it an ideal acquisition for discerning investors seeking a high-return, low-risk opportunity in a thriving market.