Multi-Tenant Office
195 Greenbriar Blvd, Covington, LA 70433
For Sale
New
Contact for pricing
HC-2 zoning and a net-lease structure shape the property's commercial profile.
Property Size20,000 SF
Lot Size2.10 Acres
Price / SF$175
Days on Market4
Property Features for 195 Greenbriar Blvd
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Occupancy
Additional Details
Tenant in Place
Property Use
Building Details
Buildings
Building Size
Tenancy
Listing Agency:
Property One Inc New Orleans
(504) 681-3400
Listed By:
Hayden Ingram · License LA #995711243
(985) 801-9028
Source:
Moodyscre
Added: Nov 10
Changed: Nov 12
Last Checked: Nov 12 at 2:18PM
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 Property One Inc New Orleans
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 20,000-square-foot office building at 195 Greenbriar Blvd. sits on 2.1 acres and is configured for multiple tenants. It is 70% occupied, with 13,800 square feet currently in use. The property has HC-2 zoning and a net-lease structure, with rents described as being at market rates.
The building is within Normandy Oaks Office Park, off LA-21 in Covington. These details provide a concise picture of the property’s scale, occupancy, and location.
The building is within Normandy Oaks Office Park, off LA-21 in Covington. These details provide a concise picture of the property’s scale, occupancy, and location.
Key Highlights
- 20,000‑square‑foot multi‑tenant office building
- 2.1‑acre site
- 70% occupied, with 13,800 square feet in use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$226,945
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,538,900
$4.5M
Cap Rate 7%
$3,242,071
$3.2M
Cap Rate 9%
$2,521,611
$2.5M
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$391.2K $19.56/SF
− Vacancy
−$88.6K −$4.43/SF
EGI
$302.6K $15.13/SF
− OpEx
−$75.6K −$3.78/SF
NOI
$226.9K $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 Rate 5%
$4,538,900
Cap Rate 7%
$3,242,071
Cap Rate 9%
$2,521,611
Alternative Uses
Best Use
Office B
$3.24M
$2.84M – $3.78M
NOI $226,945 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.11M
$4.47M – $5.96M
NOI $357,552 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
70%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
841
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
$316,200
Median Home Value
Market
Average Price Trend$/SF for Office buildings in St. Tammany County, LA
Properties on Market for Office buildings in St. Tammany County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - HC-2 zoning and a net-lease structure shape the property's commercial profile.
Where is this office building located?
The property is located at 195 Greenbriar Blvd Covington, LA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 20,000‑square‑foot multi‑tenant office building; 2.1‑acre site; 70% occupied, with 13,800 square feet in use
