Furnished Office
For Sale
$8,300,000
300 Holiday Square Boulevard, Covington, LA 70433
C-2-zoned office property with furnished work areas, multiple conference rooms, and a functional generator.
Property Size38,496 SF
Price / SF$215.61
Days on Market515
Property Features for 300 Holiday Square Boulevard
General Information
Standard status
Active
Size
38,496 SF
Property subtype
Office
Zoning
C-2
Amenities
Water
Sewer
Listing Agency:
Gulf States Real Estate Services Corporate
(985) 969-1676
Listed By:
Matthew Saucier · License #LA-995681677
(985) 969-1676
Source:
Lacdb.resimplifi
Added: Apr 3, 2025
Changed: Aug 29
Last Checked: Aug 30 at 1:29PM
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 Gulf States Real Estate Services Corporate
Investment Insights
Based on property information with market context.
This 38,496-square-foot office building is furnished and configured across three floors. The first floor is leased, while the second and third floors are available. Interior improvements include private offices, cubicle areas, conference rooms, and break rooms, supporting a range of conventional office layouts. A fully functional generator is also in place.
The property is located at 300 Holiday Square Boulevard in Covington, Louisiana, with visibility from I-12. C-2 zoning provides the stated commercial land-use designation for the office building.
The property is located at 300 Holiday Square Boulevard in Covington, Louisiana, with visibility from I-12. C-2 zoning provides the stated commercial land-use designation for the office building.
Key Highlights
- 38,496‑square‑foot office building in Covington, Louisiana
- First floor leased; second and third floors available
- Private offices, cubicles, conference rooms, and break rooms on each floor
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
$436,824
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
5.26%
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%
$8,736,480
$8.7M
Cap Rate 7%
$6,240,343
$6.2M
Cap Rate 9%
$4,853,600
$4.9M
Market Conditions
NOI Build-Up for 38,496 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
$753.0K $19.56/SF
− Vacancy
−$170.6K −$4.43/SF
EGI
$582.4K $15.13/SF
− OpEx
−$145.6K −$3.78/SF
NOI
$436.8K $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 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%
$8,736,480
Cap Rate 7%
$6,240,343
Cap Rate 9%
$4,853,600
Alternative Uses
Best Use
Office B
$6.24M
$5.46M – $7.28M
NOI $436,824 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$414.99M
$363.12M – $484.16M
NOI $29,049,390 @ 7.0% cap · market cap 349.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
354
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - C-2-zoned office property with furnished work areas, multiple conference rooms, and a functional generator.
Where is this office building located?
The property is located at 300 Holiday Square Boulevard Covington, LA.
What is the asking price?
The asking price for this property is $8,300,000.
What are key features of this property?
This property features: 38,496‑square‑foot office building in Covington, Louisiana; First floor leased; second and third floors available; Private offices, cubicles, conference rooms, and break rooms on each floor
