Divisible Restaurant
New
For Sale
$900,000
103 W 30th Ave, Covington, LA 70433
Corner-lot restaurant property with flexible interior sections, commercial kitchen equipment, and city water and sewer.
Property Size4,000 SF
Lot Size0.32 Acres
Price / SF$225
Days on Market2
Property Features for 103 W 30th Ave
General Information
Standard status
Active
Size
4,000 SF
Lot size
0.32 Acres
Zoning
C2
Restaurant
Commercial Hood
Yes
Equipment Included
Yes
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1991
Buildings
1
Construction
metal
Listing Agency:
Smith & Core, Inc.
Listed By:
Tontinette Barletto · License #099563016
(985) 630-8465
Source:
Fiorellaavenue
Added: Sep 4
Last Checked: Sep 4 at 3:03PM
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 Smith & Core, Inc.
Investment Insights
Based on property information with market context.
The 4,000-square-foot restaurant building was constructed in 1991 and is currently occupied by Norma's Pizza. Its interior is arranged for division into multiple sections, supporting separate business areas within the same structure. Existing food-service equipment includes an overhead hood, fryer, pizza oven, Vulcan six-burner range, and buffet table.
The property occupies a corner lot at 103 W 30th Ave in Covington, measuring 131 by 108 feet. The site includes approximately 23 or more parking spaces, city water and sewer service, C2 zoning, and Flood Zone C designation. The building is located in a commercial setting and has a layout that has supported restaurant use over time.
The property occupies a corner lot at 103 W 30th Ave in Covington, measuring 131 by 108 feet. The site includes approximately 23 or more parking spaces, city water and sewer service, C2 zoning, and Flood Zone C designation. The building is located in a commercial setting and has a layout that has supported restaurant use over time.
Key Highlights
- 4,000‑square‑foot restaurant building constructed in 1991
- Interior designed for division into multiple sections
- Commercial kitchen includes overhead hood, fryer, pizza oven, Vulcan 6 range burner, and buffet table
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
$71,510
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
7.95%
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%
$1,430,200
$1.4M
Cap Rate 7%
$1,021,571
$1.0M
Cap Rate 9%
$794,556
$794.6K
Market Conditions
NOI Build-Up for 4,000 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
$99.8K $24.96/SF
− Vacancy
−$4.5K −$1.12/SF
EGI
$95.3K $23.84/SF
− OpEx
−$23.8K −$5.96/SF
NOI
$71.5K $17.88/SF
Area
St. Tammany County, LA
Vacancy
4.50%
Lease Rate
$24.96 /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%
$1,430,200
Cap Rate 7%
$1,021,571
Cap Rate 9%
$794,556
Alternative Uses
Best Use
Specialty Retail
$1.02M
$893.9K – $1.19M
NOI $71,510 @ 7.0% cap · market cap 7.95%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$43.12M
$37.73M – $50.31M
NOI $3,018,432 @ 7.0% cap · market cap 335.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
1,061
Businesses Nearby
27k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 85%
Dining 11%
Beauty & Spa 4%
Capital One Bank
Shops & Services
12,602 visits/mo
0.2 miles
Exxon
Shops & Services
3,629 visits/mo
0.3 miles
Domino's Pizza
Dining
2,942 visits/mo
0.3 miles
Take 5 Oil Change
Shops & Services
2,864 visits/mo
0.1 miles
O'Reilly Auto Parts
Shops & Services
2,851 visits/mo
0.2 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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Corner-lot restaurant property with flexible interior sections, commercial kitchen equipment, and city water and sewer.
Where is this conventional restaurant located?
The property is located at 103 W 30th Ave Covington, LA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 4,000‑square‑foot restaurant building constructed in 1991; Interior designed for division into multiple sections; Commercial kitchen includes overhead hood, fryer, pizza oven, Vulcan 6 range burner, and buffet table
