Flex Space with Highway
For Sale
$4,985,623
17422 Coastal Blvd, Covington, LA 70435
Modern commercial-industrial space combines office and warehouse improvements with highway frontage.
Property Size15,000 SF
Lot Size27.11 Acres
Price / SF$332.37
Days on Market263
Property Features for 17422 Coastal Blvd
General Information
Standard status
Active
Size
15,000 SF
Lot size
27.11 Acres
Property subtype
Industrial
Zoning
COMMERCIAL INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Loading
Front Load, Rear Load
Amenities
sign cans
Water
Sewer
Building Details
Year Built
2022
Construction
stone
Listing Agency:
ABEK Real Estate
(985) 788-4993
Listed By:
Larry Haik · License #000036766
(985) 788-4993
Source:
Lacdb.resimplifi
Added: Dec 11, 2025
Changed: Aug 30
Last Checked: Aug 31 at 1:20PM
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 ABEK Real Estate
Investment Insights
Based on property information with market context.
Built in 2022, this 15,000-square-foot flex property combines office and warehouse improvements on a 3.648-acre site. The buildings are designed with roll-up doors at both the front and rear, each measuring 14 feet at ground level, along with paved parking on both sides and circulation around the improvements. Stone exterior detailing and existing sign cans add to the physical improvements.
The property fronts a highway and is zoned COMMERCIAL INDUSTRIAL. The building sale is contingent on the purchase of an additional 23.457 acres, bringing the total land area involved in the transaction to 27.105 acres. The additional acreage provides a larger land component alongside the existing flex buildings.
The property fronts a highway and is zoned COMMERCIAL INDUSTRIAL. The building sale is contingent on the purchase of an additional 23.457 acres, bringing the total land area involved in the transaction to 27.105 acres. The additional acreage provides a larger land component alongside the existing flex buildings.
Key Highlights
- 15,000‑square‑foot flex property built in 2022
- Sale includes 3.648‑acre building site and is contingent on purchase of an additional 23.457 acres
- Transaction involves 27.105 total acres
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
$170,209
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
3.41%
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%
$3,404,180
$3.4M
Cap Rate 7%
$2,431,557
$2.4M
Cap Rate 9%
$1,891,211
$1.9M
Market Conditions
NOI Build-Up for 15,000 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
$293.4K $19.56/SF
− Vacancy
−$66.5K −$4.43/SF
EGI
$226.9K $15.13/SF
− OpEx
−$56.7K −$3.78/SF
NOI
$170.2K $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%
$3,404,180
Cap Rate 7%
$2,431,557
Cap Rate 9%
$1,891,211
Alternative Uses
Best Use
Office B
$2.43M
$2.13M – $2.84M
NOI $170,209 @ 7.0% cap · market cap 3.41%
Second Best
Flex RnD
$2.02M
$1.77M – $2.36M
NOI $141,716 @ 7.0% cap · market cap 2.84%
Theoretical Best
Multifamily LT 5
$161.70M
$141.49M – $188.65M
NOI $11,319,120 @ 7.0% cap · market cap 227.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70435, LA
20,828
Population
8,970
Households
2.3
Avg Household Size
42
Median Age
34%
College-Educated
90%
High-School Grad
104.1 sq mi
ZIP Area
200
Density / Sq Mi
$81,318
Median Household Income
$45,685
Median Earnings
$1,231
Median Rent
$271,600
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?
Flex space - Modern commercial-industrial space combines office and warehouse improvements with highway frontage.
Where is this flex space located?
The property is located at 17422 Coastal Blvd Covington, LA.
What is the asking price?
The asking price for this property is $4,985,623.
What are key features of this property?
This property features: 15,000‑square‑foot flex property built in 2022; Sale includes 3.648‑acre building site and is contingent on purchase of an additional 23.457 acres; Transaction involves 27.105 total acres
