Three-Story Office
For Sale
Contact for pricing
1351 Holiday Square Blvd, Covington, LA 70433
Single-tenant headquarters with third-floor shell space for future build-out.
Property Size66,000 SF
Lot Size4.35 Acres
Price / SF$325.76
Days on Market187
Property Features for 1351 Holiday Square Blvd
General Information
Standard status
Active
Size
66,000 SF
Class
Class A
Lot size
4.35 Acres
Property subtype
OFFICE
Occupancy
100%
Building Details
Year Built
2018
Buildings
1
Stories
3
Building Size
66,000 SF
Tenancy
Single
Owner Occupied
No
Listing Agency:
Lee & Associates | Baton Rouge
(225) 247-6648
Listed By:
Bill Sanders
(225) 247-6648
Source:
Moodyscre
Added: Jan 29
Changed: Jul 31
Last Checked: Aug 4 at 12:23PM
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 Lee & Associates | Baton Rouge
Investment Insights
Based on property information with market context.
This Class A, three-story office building was constructed in 2018 on 4.35 acres in Covington, Louisiana. The 66,000-square-foot property is occupied as Globalstar, Inc.’s corporate headquarters, with the tenant occupying the first and second floors. The third floor remains in shell condition and can be configured for additional occupancy or future expansion.
The property is subject to a single-tenant lease covering the entire building. The initial 10-year lease term runs from February 1, 2019, through January 31, 2029. The tenant is responsible for taxes, insurance, utilities, maintenance, and all operating costs. Globalstar is willing to extend beyond the current lease term for the majority of its occupied footprint. The property is located at 1351 Holiday Square Blvd, Covington, LA 70433.
The property is subject to a single-tenant lease covering the entire building. The initial 10-year lease term runs from February 1, 2019, through January 31, 2029. The tenant is responsible for taxes, insurance, utilities, maintenance, and all operating costs. Globalstar is willing to extend beyond the current lease term for the majority of its occupied footprint. The property is located at 1351 Holiday Square Blvd, Covington, LA 70433.
Key Highlights
- 66,000‑square‑foot office building on 4.35 acres
- Constructed in 2018; three‑story Class A office property
- Globalstar, Inc. occupies 100% of the building as its corporate headquarters
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.29M | $19.56 |
| − Vacancy | −$292.4k | −$4.43 |
| EGI | $998.6k | $15.13 |
| − OpEx | −$249.6k | −$3.78 |
| NOI | $748.9k | $11.35 |
66,000 SF · lease $19.56/SF/yr · vacancy 22.65% · expense 25.00%
Alternative Uses
Best Use
Office B
$10.70M
$9.36M – $12.48M
NOI $748,918 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$711.49M
$622.55M – $830.07M
NOI $49,804,129 @ 7.0% cap · market cap 231.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
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
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Frequently Asked Questions
What type of property is this?
Office building - Single-tenant headquarters with third-floor shell space for future build-out.
Where is this office building located?
The property is located at 1351 Holiday Square Blvd Covington, LA.
What is the asking price?
The asking price for this property is $21,500,000.
What are key features of this property?
This property features: 66,000‑square‑foot office building on 4.35 acres; Constructed in 2018; three‑story Class A office property; Globalstar, Inc. occupies 100% of the building as its corporate headquarters
