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    Property profile & analytics

    2100 Morrison Blvd Hammond, LA 70401

    • Grocery and convenience stores
    • 185,130 SF
    • 4.52 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-1219276
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 2100 Morrison Blvd

    Lot size
    4.52 lot acres
    Property size
    185,130 SF
    Property type
    Grocery and convenience stores
    Property subtype
    Banks

    Description

    This exceptional 4.52-acre commercial property presents a rare development opportunity in Hammond, Louisiana. Strategically positioned at the intersection of North Morrison Boulevard and University Avenue, this high-visibility site boasts approximately 590 feet of frontage on North Morrison Boulevard and 333 feet on University Avenue. The property's location offers unmatched accessibility, situated at a fully signalized intersection providing easy access to Interstate 12 and Interstate 55, as well as the Hammond Northshore Regional Airport. This coveted corner lot is zoned C-2, ensuring a wide range of development possibilities. All utilities are readily available on or near the site, simplifying the development process. The property's substantial size (185,130 square feet) and prime location at the gateway to Southeastern Louisiana University make it an ideal site for a variety of commercial ventures, including but not limited to bank branches, convenience stores, and grocery stores. The high traffic volume and excellent visibility make this a truly exceptional investment opportunity. The asking price for this remarkable property is $5,025,168. Don't miss this chance to acquire a premier commercial development site in a thriving Louisiana market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Hammond
    County
    Tangipahoa Parish
    State
    Louisiana
    Longitude
    -90.4821283
    Latitude
    30.5200523

    Comparable in this City

    • $587,624
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      Hammond, LA: 2.84 Acres Improved Land

      Prime 2.84-acre commercial lot, ideal for retail or industrial use. Excellent visibility & access.
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    • $1,350,000
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      Hammond Retail Center - $1.35M

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      Iconic Mixed-Use Toggery Building

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      Downtown Hammond Commercial Building

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    • $1,203,950

      Corner Commercial Building in Hammond

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    • $1,299,000
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      Hammond Retail Space For Sale

      15,260 SF retail property with high visibility in Hammond, LA.
      1517 W Thomas St, Hammond, LA 70401
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    Similar Nearby for Sale

    • $587,624
      2.84 Acres

      Hammond, LA: 2.84 Acres Improved Land

      Prime 2.84-acre commercial lot, ideal for retail or industrial use. Excellent visibility & access.
      44530 Airport Rd, Hammond, LA 70401
      View Details
    • $1,350,000
      15,260 SF

      Hammond Retail Center - $1.35M

      High-traffic retail building, 15,260 SF
      1517 Thomas St, Hammond, LA 70401
      View Details
    • $1,095,000
      5,997 SF

      Iconic Mixed-Use Toggery Building

      Mixed-use commercial building in Downtown Hammond with retail and residential spaces.
      105 West Thomas St, Hammond, LA 70401
      View Details
    • $325,000
      0.04 Acres

      Downtown Hammond Commercial Building

      2,489 sq ft commercial building in Hammond's business district.
      408 W Thomas St, Hammond, LA 70401
      View Details
    • $1,203,950

      Corner Commercial Building in Hammond

      Rare commercial building with parking in historic downtown Hammond.
      113 N Cypress St, Hammond, LA 70401
      View Details
    • $1,299,000
      15,260 SF

      Hammond Retail Space For Sale

      15,260 SF retail property with high visibility in Hammond, LA.
      1517 W Thomas St, Hammond, LA 70401
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      1,100 SF

      Retail Space in Hammond, LA

      Retail space available for lease in Hammond, Louisiana.
      2108 W Thomas St, Hammond, LA 70401
      View Details
    • $14 SF/Yr
      21,960 SF

      Retail Space in Hammond Plaza

      Retail space available in a Walmart shadow center.
      2751 W Thomas St, Hammond, LA 70401
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    • $14 SF/Yr
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      Retail Space in Hammond, LA

      Retail space available for lease in Hammond, Louisiana.
      2270 W Thomas St, Hammond, LA 70401
      View Details
    • $29 SF/Yr
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      Medical Office Space Available

      2,508 SF medical office space for rent.
      19184 Dr John Lambert Dr, Hammond, LA 70401
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    • $2,500 /Mo
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      Downtown Hammond Office Space

      Office space in historic downtown Hammond available for lease.
      210 North Cate St, Hammond, LA 70401
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    • $0.24 SF/Yr
      123,710 SF

      Hammond Commercial Land - 2.84 Acres

      Prime Hammond location, lease or buy. Ideal for various uses.
      44530 Airport Rd, Hammond, LA 70401
      View Details
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    2100 Morrison Blvd
    Hammond, LA 70401
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    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
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