Hammond, La. Strip For Sale

Shopping Center for Sale
Catylist Listing ID: 30778021
Property Subtypes: Community Center, Mixed Use, Neighborhood Center, Net Leased, Outlet Center, Strip Center, Other
Building Size (RSF): 7,000 SF
Gross Building Area: See Agent
Gross Land Area: 0.87 Acres
Sale Price: $3,300,000
Unit Price: $471.43 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Average Occupancy Rate: 100
Last Updated: 1/12/2022

Overview / Comments

Updated as of: December 30, 2021.

This well located center fronts W. Thomas street, Hammond, La. and is situated as a pad/Outparcel, in front of Walmart & Loews in Hammond, La.

Surrounded by National Retailers, such as
Ross, Hobby Lobby, Chili's, Starbucks, Taco Bell, McDonalds, Wendy's, etc..

Current Tenant Mix:
Aspen Dental on a Ten (10) Year primary, and is under a Net, Net, Net Lease.
AT&T has just renewed for another Five (5) Years, and is under a Net, Net Lease.
Seller will leaseback last remaining bay, provided sales price is $3,300,000.00.
Leased premises consist of approx. 2,100 sf., at a Base Rent of: $28 psf., or ($58,870.00) annually, plus net charges of ($4.56 psf. or an additional rent of: $9,576.00 annually for net charges).
Initial Lease term of up to 60 months from the Act of Sale date, personally guaranteed by Seller for administration use only. Base Rent could be further negotiated up, provided the Sales Price justifies the increase.

NOI: $231,000.00 Net Annually, for Three (3) Tenants: Aspen Dental on a 10 year, AT&T on a 5 year, and with Seller leasing back for either a Three (3) to up to Five (5) Years, from Act of Sale Date, for administration purposes.

Current Tenants

Tenant Business Name Aspen Dental
Is Renting? Yes
Annual Revenue $138,250 (Annual)
SF of Space Occupied 3,500 SF
Current Rent $138,250 PSF (Annual)
Lease Expiration 10/2029
Options plus (4) 5 year options
Tenant Business Name A T & T
Is Renting? Yes
Annual Revenue $33,880 (Annual)
SF of Space Occupied 1,400 SF
Current Rent $33,880 PSF (Annual)
Lease Expiration 9/2026
Options (2) 5 year options.
Tenant Business Name Seller or Buyer to occupy
SF of Space Occupied 2,100 SF
Options Plus Options
Tenant Notes The seller will leaseback for up from 36- 60 months, Base Rent negotiated, based on Offering price.

Additional Details

Nearest MSA: Hammond
County: Tangipahoa
Submarket/Township: 85
Tax ID/APN: 5825903.000000000000000
Retail Clientele: General, Family, Business, Traveler
Property Located Between: W. Thomas street
Property Visibility: Excellent
Largest Nearby Street: Same
Traffic/Vehicle Count: 35,000
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Parking Type: Surface
Air Conditioning: Package Unit
Zoning Description: Highway Commercial
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,528 34,042 56,590
Median Age: 28.68 30.28 31.88
Households: 1,874 12,709 21,206


Photograph of Listing Agent

Bryan D Pigeon

John Sanderford & Associates, LLC Metairie, LA 70055
LACDB Member
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