Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    42421 Pelican Professional Park Hammond, LA 70403-2405

    • Commercial real estate
    • 4,324 SF
    • 0.39 lot acres
    OFF-MARKET
    Last Sale
    Nov 12, 2021
    $850,000
    Value Estimations
    $710,000
    Show details
    Cap Rate Potential
    3%
    Commercial real estate
    Location Intelligence
    Property ID
    US36-0971657
    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

    • Suarez Bonadelvert MD / Pediatrician
    • Medical Arts Adult & Pediatric / Pediatrician
    • Dr. Rebecca Soine / Physician / Medical Clinic
    • Soine Dermatology & Aesthetics / Medical Clinic
    • Haley Hunt, MD / Physician / Medical Clinic

    Property Details for 42421 Pelican Professional Park

    Year built
    2018
    Lot size
    0.39 lot acres
    Property size
    4,324 SF
    Property type
    Commercial real estate
    APN
    6193560
    APU
    6193560

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $660,000
      ML approach
      $680,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $656,000
      Market price range: $316k - $657k
      AI Estimate
      $563,000
      Market price range: $160k - $563k

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

    Location Insight

    • Map
    • Local Demand
    City
    Hammond
    County
    Tangipahoa
    State
    Louisiana
    Longitude
    -90.4653
    Latitude
    30.4772
    CBSA code
    25220
    CBSA name
    HAMMOND, LA MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,260
    $21,200
    $89,507
    $110,707
    -
    $212,000
    $596,712
    $808,712

    Comparable in this City

    • Value Estimation by Request
      1.22 Acres

      Airport Rd

      Land • 1.22 Acres
      0 Airport Rd, Hammond, LA 70403
      View Details
    • Value Estimation by Request
      5.07 Acres

      - 5.067 Acres Bauerle Rd

      Land • 5.07 Acres
      - 5.067 Acres Bauerle Rd, Hammond, LA 70403
      View Details
    • Value Estimation by Request
      748 SF

      804 Venice Ave

      COMMERCIAL (GENERAL) • 748 SF
      804 Venice Ave, Hammond, LA 70403-5450
      View Details
    • Value Estimation by Request
      3,333 SF

      202 Holly St

      COMMERCIAL (GENERAL) • 3,333 SF
      202 Holly St, Hammond, LA 70403-4346
      View Details
    • Value Estimation by Request
      2,347 SF

      107 Cherry St

      COMMERCIAL (GENERAL) • 2,347 SF
      107 Cherry St, Hammond, LA 70403-4225
      View Details
    • Value Estimation by Request
      2,738 SF

      111 Chestnut St

      COMMERCIAL (GENERAL) • 2,738 SF
      111 Chestnut St, Hammond, LA 70403-4325
      View Details

    Similar Nearby for Sale

    • $220,000
      1,408 SF

      Prime Ponchatoula Commercial Property

      High-potential commercial land near major retailers.
      2470 Veterans Blvd, Ponchatoula, LA 70403
      View Details
    • $450,000

      Hammond Commercial Land - Prime Location

      Versatile 2.5-acre lot near I-12 & Hammond Square Mall.
      16195 Minnesota Park Rd, Hammond, LA 70403
      View Details
    • $587,624
      2.84 Acres

      Hammond Commercial Land - $587K

      2.84 Acres, I-10/I-12 Corridor, High Visibility
      44530 Airport Rd, Hammond, LA 70403
      View Details
    • $930,006
      1.22 Acres

      Hammond Retail Land Investment

      Prime I-12 & Airport Rd location. High traffic counts.
      0 Airport Rd, Hammond, LA 70403
      View Details
    • $2,031,700
      5,600 SF

      1308 Morrison Blvd, Hammond, LA 70403

      Commercial real estate • 5,600 SF
      1308 Morrison Blvd, Hammond, LA 70403
      View Details
    • Contact for pricing
      140 SF

      Hammond Office Space For Lease

      Prime Hammond office, 140 sq ft, all utilities included.
      42299 Perricone Dr, Hammond, LA 70403
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      9,000 SF

      Warehouse with I-55 Visibility

      9,000 SF warehouse with dock access and I-55 visibility.
      44212 Stein Rd, Hammond, LA 70403
      View Details
    • $3,000 /Mo
      1,975 SF

      Stylish Office Space in Hammond

      Sophisticated office space with decorator touches, ideal for various businesses.
      611 E Morris Ave, Hammond, LA 70403
      View Details
    • $2,250 /Mo
      2,000 SF

      Downtown Hammond Commercial Office Space

      2,000 sq ft office space in downtown Hammond.
      107 S Cherry St, Hammond, LA 70403
      View Details
    • $3,000 /Mo
      3,977 SF

      Hammond Commercial Building For Lease

      Commercial building for lease featuring 9 offices and ample parking.
      40521 Pumpkin Center Rd, Hammond, LA 70403
      View Details
    • $2,000 /Mo
      2,000 SF

      Prime Commercial Property on Holly

      High-visibility commercial property near Interstate, shopping, and residential areas.
      43391 S Holly St, Hammond, LA 70403
      View Details
    • $27 SF/Yr
      12,336 SF

      Fleur de Lis Center Office Suites

      Hammond, LA Office Space For Lease
      1420 Railroad Ave, Hammond, LA 70403
      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.
    42421 Pelican Professional Park
    Hammond, LA 70403-2405
    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.