Medical Office with Exam
For Sale
Contact for pricing
1117 S Tyler Street, Covington, LA 70433
The clinical layout includes private offices, patient exam rooms, meeting areas, reception and a dedicated waiting room.
Property Size2,084 SF
Price / SF$1.92
Days on Market46
Property Features for 1117 S Tyler Street
General Information
Standard status
Active
Size
2,084 SF
Property subtype
Commercial
Zoning
COM
Additional Details
Condition
Move-in Ready
Property Use
Medical Office
Building Details
Building Size
2,084 SF
Year Built
2008
Listing Agency:
Berkshire Hathaway Homeservices Preferred, Realtor
(985) 951-2324
Listed By:
Holly Stroebel · License #995719446
(504) 905-3985
Source:
Cypresskeyrealty
Added: Sep 9
Changed: Oct 23
Last Checked: Oct 23 at 5:02PM
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 Berkshire Hathaway Homeservices Preferred, Realtor
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Investment Insights
Based on property information with market context.
This 2,084-square-foot medical office was built in 2008 and is arranged for clinical and administrative functions. The floor plan includes three private offices, five exam rooms, two meeting rooms, two bathrooms, a kitchen and break area, reception, and a spacious waiting room. Exam-room cabinetry is new; kitchen and reception cabinets are scheduled for repainting and refinishing before occupancy. The property is zoned COM.
The office occupies a corner parcel across from St. Tammany Hospital on a high-traffic corridor, with nearby medical uses noted in the surrounding area. Its established room layout brings patient-facing, staff, and meeting spaces together within one office property.
The office occupies a corner parcel across from St. Tammany Hospital on a high-traffic corridor, with nearby medical uses noted in the surrounding area. Its established room layout brings patient-facing, staff, and meeting spaces together within one office property.
Key Highlights
- 2,084‑square‑foot medical office built in 2008
- Three private offices and five exam rooms
- Two meeting rooms and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,648
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,960
$473.0K
Cap Rate 7%
$337,829
$337.8K
Cap Rate 9%
$262,756
$262.8K
Market Conditions
NOI Build-Up for 2,084 SF
Gross rent
$40.8K $19.56/SF
− Vacancy
−$9.2K −$4.43/SF
EGI
$31.5K $15.13/SF
− OpEx
−$7.9K −$3.78/SF
NOI
$23.6K $11.35/SF
Area
St. Tammany County, LA
Vacancy
22.65%
Lease Rate
$19.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,960
Cap Rate 7%
$337,829
Cap Rate 9%
$262,756
Alternative Uses
Best Use
Healthcare Medical
$374.6K
$327.8K – $437.1K
NOI $26,223 @ 7.0% cap · market cap 655.57%
Second Best
Office B
$337.8K
$295.6K – $394.1K
NOI $23,648 @ 7.0% cap · market cap 591.20%
Theoretical Best
Multifamily LT 5
$22.47M
$19.66M – $26.21M
NOI $1,572,603 @ 7.0% cap · market cap 39,315.08%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - The clinical layout includes private offices, patient exam rooms, meeting areas, reception and a dedicated waiting room.
Where is this medical office space located?
The property is located at 1117 S Tyler Street Covington, LA.
What are key features of this property?
This property features: 2,084‑square‑foot medical office built in 2008; Three private offices and five exam rooms; Two meeting rooms and two bathrooms
