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    19352 N 2Nd St Covington, LA 70433

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    For Lease
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    Neighborhood shopping center with easy access and steady traffic flow.

    Property Features for 19352 N 2Nd St

    General Information

    Standard status
    Active

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    Listing Contact
    Mitchell Halpern
    Mitchell Halpern
    Source: Crexi

    Listing Agency: Corporate Realty Listing Agent: Mitchell Halpern

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Highway 190 Shopping Center Space

    This neighborhood shopping center is located just off Highway 190 near the I-12 interchange, offering easy access and a steady local traffic flow of 55,222 vehicles per day. Positioned across the street from Walmart Neighborhood Market, the property benefits from consistent nearby activity and established surrounding businesses. Three of the four suites are currently leased, creating a stable foundation for the center. With a front parking lot and simple ingress and egress from Highway 190, the site provides a practical location for local service, office, or retail uses. The space offers a flexible layout suitable for a range of small business needs. The combination of a convenient location, manageable suite sizes, and attentive ownership makes this property a solid option for tenants seeking affordable space in the Highway 190 corridor. The property is located in Covington, LA.
    Location Intelligence

    Current Use by Public Records

    Haller Classic Ballet Training Center Mary Dee's Dance ... Training Center CC Group Foundation Social Service Agency Jazzercise & Haller Ballet Gym & Fitness Center Haller Classic Ballet ... Training Center

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Law Firm Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    River Highlands Center, Florist Of Covington, Claiborne Hill, Coinstar Kiosk | Bitcoin ATM, Coinstar Kiosk | Bitcoin ATM

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    St. Tammany
    State
    Louisiana
    Longitude
    -90.08452
    Latitude
    30.47138

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    FAQs

    What type of property is this?
    Shopping center - Neighborhood shopping center with easy access and steady traffic flow.
    Where is this shopping center located?
    The property is located at 19352 N 2Nd St Covington, LA.
    What are key features of this property?
    This property features: - High traffic location: 55,222 vehicles per day (VPD) on Highway 190.; - Close proximity to Walmart Neighborhood Market.; - Three of four suites are currently leased.
    (504) 581-5005
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    19352 N 2Nd St Covington, LA 70433
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    Covington, LA 70433
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    19352 N 2Nd St Covington, LA 70433
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    Listing Contact
    Mitchell Halpern
    Mitchell Halpern
    Real Estate License ID: 995714139
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