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    21175 HIGHWAY 36, Covington, LA 70435

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    For Lease
    $4,500/Mo $13 SF/Yr (calc)

    SINGLE_FAMILY - Covington, LA

    Type:Office
    Property size:
    4,000 SF
    Lot size:
    0.84 Acres
    Added:
    Mar 25, 2026
    Days on Market:
    67
    Last Refresh:
    May 30 at 1:06 am

    Property Features for 21175 HIGHWAY 36

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    I-2
    Exterior features
    Fence
    Fencing
    Fenced
    Standard status
    Active
    APN
    7043521175HIGHWAY36NO
    Size
    4,000 SF
    Lot size
    0.84 Acres

    Taxes and HOA fees

    Expense value
    4500
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1990
    Floors in Building
    1

    We can help!

    Listing Contact
    Steve Scoggin

    Listing agent Steve Scoggin License #000011318

    Listing office Scoggin Properties, Inc. 1131 N Causeway Blvd.., Mandeville, LA

    Listing date Mar 25, 2026

    MLS# 2549710

    Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Combination of office (720 SF) and warehouse (3,280 SF) space.
    • Warehouse features 3 12' overhead doors.
    • Significant concrete paving (5,450 SF).
    • Fully insulated warehouse with mezzanine.
    • Office includes a reception area, 2 offices, and an ADA restroom.
    • Fenced property on a 36,630 SF lot.

    Overview

    This well-maintained property features both office and warehouse space. The office area measures 720 square feet and includes a reception area, two offices, and one ADA-compliant restroom. The warehouse provides 3,280 square feet of insulated space, equipped with three 12-foot overhead doors, a restroom, a floored mezzanine above the office, and a pedestrian door. Additionally, the property includes 5,450 square feet of concrete paving. The total lot size is 36,630 square feet. The property is located in Covington, LA, and is zoned I-2.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • YUM YUM GIMME SUM — 21200 Fern St, Covington, LA 70435

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    St. Tammany
    State
    Louisiana
    Longitude
    -90.05192
    Latitude
    30.48295

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    FAQs

    What type of property is this?
    Flex space - Well-maintained office and warehouse space for lease in Covington, LA.
    Where is this flex space located?
    The property is located at 21175 HIGHWAY 36 Covington, LA.
    What is the lease rate?
    The lease rate is $4,500 /Mo.
    What are key features of this property?
    This property features: Combination of office (720 SF) and warehouse (3,280 SF) space.; Warehouse features 3 12' overhead doors.; Significant concrete paving (5,450 SF).
    (985) 373-0019
    We can help!
    Listing Contact
    Steve Scoggin
    Real Estate License ID: 000011318
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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.

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