Strip Center with On-Site
For Sale
$1,250,000
1170 N Hwy 190, Covington, LA 70433
An established Verizon retail operation occupies the center, with additional space available for lease.
Property Size10,200 SF
Price / SF$122.55
Days on Market34
Property Features for 1170 N Hwy 190
General Information
Standard status
Active
Size
10,200 SF
Property subtype
Investment
Zoning
HC-3
Additional Details
Highway Access
Yes
Listing Agency:
Don Randon Real Estate Inc
Listed By:
Randy Argote
(504) 388-4669
Source:
Lacdb.resimplifi
Added: Sep 10
Changed: Oct 13
Last Checked: Oct 13 at 2:15AM
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 Don Randon Real Estate Inc
Investment Insights
Based on property information with market context.
This 10,200-square-foot retail center at 1170 N Hwy 190 includes an established Verizon operation and a dedicated parking area. The property is zoned HC-3, and additional space is available for lease.
The site fronts the Hwy 190 corridor in Covington, near Lowe’s and Walmart Supercenter.
The site fronts the Hwy 190 corridor in Covington, near Lowe’s and Walmart Supercenter.
Key Highlights
- 10,200‑square‑foot retail center
- Established Verizon retail tenant
- HC‑3 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,281
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,045,620
$2.0M
Cap Rate 7%
$1,461,157
$1.5M
Cap Rate 9%
$1,136,456
$1.1M
Market Conditions
NOI Build-Up for 10,200 SF
Gross rent
$153.0K $15.00/SF
− Vacancy
−$6.9K −$0.68/SF
EGI
$146.1K $14.33/SF
− OpEx
−$43.8K −$4.30/SF
NOI
$102.3K $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 Rate 5%
$2,045,620
Cap Rate 7%
$1,461,157
Cap Rate 9%
$1,136,456
Alternative Uses
Best Use
Retail
$1.46M
$1.28M – $1.70M
NOI $102,281 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$109.96M
$96.21M – $128.28M
NOI $7,697,002 @ 7.0% cap · market cap 615.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,438
Businesses Nearby
29k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Dining 20%
Beauty & Spa 4%
Capital One Bank
Shops & Services
12,602 visits/mo
0.4 miles
Exxon
Shops & Services
3,629 visits/mo
0.2 miles
Domino's Pizza
Dining
2,942 visits/mo
0.2 miles
Take 5 Oil Change
Shops & Services
2,864 visits/mo
0.2 miles
O'Reilly Auto Parts
Shops & Services
2,851 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - An established Verizon retail operation occupies the center, with additional space available for lease.
Where is this strip mall located?
The property is located at 1170 N Hwy 190 Covington, LA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 10,200‑square‑foot retail center; Established Verizon retail tenant; HC‑3 zoning
