Fully Leased Office
For Sale
$1,425,000
200 S Tyler St, Covington, LA 70433
Five-building professional office property with multiple suites, commercial zoning, and established occupancy.
Property Size9,000 SF
Price / SF$158.33
Days on Market21
Property Features for 200 S Tyler St
General Information
Standard status
Active
Size
9,000 SF
Property subtype
Office
Zoning
Commercial
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
7.86%
Office Units
11
Building Details
Year Built
1989
Buildings
5
Construction
Colonial Williamsburg
Tenancy
Multi
Abandoned
No
Listing Agency:
REMAX Commercial Brokers, Inc
(504) 838-0001
Listed By:
Richard Juge · License #BROK.31432.A-ACT
(504) 838-0001
Source:
Lacdb.resimplifi
Added: Aug 11
Changed: Aug 31
Last Checked: Aug 31 at 1:48PM
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 REMAX Commercial Brokers, Inc
Investment Insights
Based on property information with market context.
Simpson Creek Office Park comprises five office buildings containing eleven suites and approximately 9,000 square feet. Built in 1989, the property is fully leased and configured as a professional office investment with a diversified rent roll. The site carries Commercial zoning and includes an in-place 7.86% cap rate.
The property is located at 200 S Tyler St in Covington, along South Tyler Street, also designated LA-21. This corridor connects downtown Covington with Interstate 12 and places the office park near downtown Covington and St. Tammany Parish Hospital. The office campus occupies a semi-wooded setting while maintaining visibility from the roadway.
The property is located at 200 S Tyler St in Covington, along South Tyler Street, also designated LA-21. This corridor connects downtown Covington with Interstate 12 and places the office park near downtown Covington and St. Tammany Parish Hospital. The office campus occupies a semi-wooded setting while maintaining visibility from the roadway.
Key Highlights
- Five office buildings with 11 suites
- Approximately 9,000 square feet of office space
- Fully leased professional office property
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
$102,125
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
7.17%
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%
$2,042,500
$2.0M
Cap Rate 7%
$1,458,929
$1.5M
Cap Rate 9%
$1,134,722
$1.1M
Market Conditions
NOI Build-Up for 9,000 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
$176.0K $19.56/SF
− Vacancy
−$39.9K −$4.43/SF
EGI
$136.2K $15.13/SF
− OpEx
−$34.0K −$3.78/SF
NOI
$102.1K $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%
$2,042,500
Cap Rate 7%
$1,458,929
Cap Rate 9%
$1,134,722
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.70M
NOI $102,125 @ 7.0% cap · market cap 7.17%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$97.02M
$84.89M – $113.19M
NOI $6,791,472 @ 7.0% cap · market cap 476.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
11
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,319
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Five-building professional office property with multiple suites, commercial zoning, and established occupancy.
Where is this office building located?
The property is located at 200 S Tyler St Covington, LA.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Five office buildings with 11 suites; Approximately 9,000 square feet of office space; Fully leased professional office property
