2307 Thomas St Hammond, LA 70401-2829
- Commercial real estate
- 0.74 lot acres
Mar 12, 2024
Current Use by Public Records
- 7 Brew Coffee / Cafe & Coffee Shop
Property Details for 2307 Thomas St
- Lot size
- 0.74 lot acres
- Property type
- Commercial real estate
- APN
- 6547932
- APU
- 6547932
Description
This exceptional investment opportunity presents a brand-new, double drive-thru 7 Brew coffee shop in Hammond, Louisiana, within the New Orleans-Metairie MSA. The property boasts a 20.1-year absolute NNN ground lease commencing June 4, 2024, and expiring June 30, 2044, with a remaining term of 19.6 years. Rent increases of 10% are built into the lease every five years. The 550-square-foot building sits on a 0.76-acre lot with 10 parking spaces and is located on a major thoroughfare with 29,200 vehicles per day. The property benefits from its proximity to a large, grocery-anchored shopping center and major interstate access (Interstate 55 and Interstate 12). The current NOI is $129,000, with a pro-forma NOI of $141,900, resulting in a 6.50% cap rate and a pro-forma cap rate of 7.15%. The asking price is $1,985,000. The property features four five-year lease options and is zoned for commercial use. This is a passive investment opportunity with zero landlord responsibilities, offering significant potential for long-term returns due to the strong brand identity and growth of 7 Brew, a high-performing QSR tenant. The property's prime location and high traffic volume ensure consistent revenue generation. The APN is 6547932.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $860,000
- ML approach
- $860,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Hammond
- County
- Tangipahoa
- State
- Louisiana
- Longitude
- -90.4874
- Latitude
- 30.5004
- CBSA code
- 25220
- CBSA name
- HAMMOND, LA MICROPOLITAN STATISTICAL AREA
