Established Storefront
For Sale
$150,000
1021 N Lee Rd, Covington, LA 70433
Operating trophy and awards business with more than 30 years of history and established institutional relationships.
Property Size900 SF
Price / SF$166.67
Days on Market15
Property Features for 1021 N Lee Rd
General Information
Standard status
Active
Size
900 SF
Property subtype
Retail
Zoning
CR
Additional Details
Business Included
Yes
Amenities
Power
Sewer
Building Details
Year Built
1990
Listing Agency:
Compass - Mandeville
Listed By:
Jay Romano · License #000013134
(985) 502-6913
Source:
Lacdb.resimplifi
Added: Aug 25
Changed: Sep 7
Last Checked: Sep 7 at 2:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass - Mandeville
Investment Insights
Based on property information with market context.
This storefront property accommodates an established trophy and awards business with more than three decades of operating history. The sale includes the business, with a new lease to be executed for the premises.
The operation has developed relationships with school systems, recreational districts, and corporate partners. The property was built in 1990 and carries CR zoning at 1021 N Lee Rd in Covington, Louisiana.
The operation has developed relationships with school systems, recreational districts, and corporate partners. The property was built in 1990 and carries CR zoning at 1021 N Lee Rd in Covington, Louisiana.
Key Highlights
- Trophy and awards business operating for more than 30 years
- New lease to be executed with the business sale
- Established relationships with school systems and recreational districts
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$9,025
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$180,500
$180.5K
Cap Rate 7%
$128,929
$128.9K
Cap Rate 9%
$100,278
$100.3K
Market Conditions
NOI Build-Up for 900 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$13.5K $15.00/SF
− Vacancy
−$608 −$0.68/SF
EGI
$12.9K $14.33/SF
− OpEx
−$3.9K −$4.30/SF
NOI
$9.0K $10.03/SF
Area
St. Tammany County, LA
Vacancy
4.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$180,500
Cap Rate 7%
$128,929
Cap Rate 9%
$100,278
Alternative Uses
Best Use
Retail
$128.9K
$112.8K – $150.4K
NOI $9,025 @ 7.0% cap · market cap 6.02%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$9.70M
$8.49M – $11.32M
NOI $679,147 @ 7.0% cap · market cap 452.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
31k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 10%
Beauty & Spa 3%
Home Improvements & Furnishings 3%
Capital One Bank
Shops & Services
12,602 visits/mo
0.1 miles
Exxon
Shops & Services
3,629 visits/mo
0.4 miles
Napa Auto Parts
Shops & Services
2,958 visits/mo
0.4 miles
Domino's Pizza
Dining
2,942 visits/mo
0.5 miles
Take 5 Oil Change
Shops & Services
2,864 visits/mo
0.1 miles
Demographics for 70433, LA
41,423
Population
18,712
Households
2.2
Avg Household Size
42
Median Age
45%
College-Educated
93%
High-School Grad
48.7 sq mi
ZIP Area
851
Density / Sq Mi
$79,354
Median Household Income
$47,406
Median Earnings
$1,373
Median Rent
$316,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- C J's Florist — 228 W 21st Ave, Covington, LA 70433
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Frequently Asked Questions
What type of property is this?
Storefront property - Operating trophy and awards business with more than 30 years of history and established institutional relationships.
Where is this storefront property located?
The property is located at 1021 N Lee Rd Covington, LA.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Trophy and awards business operating for more than 30 years; New lease to be executed with the business sale; Established relationships with school systems and recreational districts
