Versatile Office Building For
For Sale
$330,000
20115 Hwy. 36, Covington, LA 70433
Freestanding office building suitable for medical, counseling, or general use.
Property Size2,597 SF
Lot Size0.69 Acres
Price / SF$127.07
Days on Market196
Property Features for 20115 Hwy. 36
General Information
Standard status
Active
Size
2,597 SF
Lot size
0.69 Acres
Property subtype
Office
Zoning
NC-2 Neighborhood Commercial District
Amenities
Water
Sewer
Listing Agency:
NAI Rampart Commercial Real Estate New Orleans
Listed By:
Ryan Pearce · License #SALE.0995682184-ACT
(504) 444-1503
Source:
Lacdb.resimplifi
Added: Mar 27
Changed: Oct 3
Last Checked: Oct 7 at 8:33AM
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 NAI Rampart Commercial Real Estate New Orleans
Investment Insights
Based on property information with market context.
This single-tenant, freestanding office building, formerly a Wellness and Counseling Center, offers a versatile space suitable for medical, counseling, or general office use. The building is situated on a 30,000 square foot lot and comprises approximately 2,597 square feet. The property's multiple entrances and individual restrooms provide flexibility for subdivision or sub-leasing. The layout includes four private offices, two waiting areas, a built-in receptionist nook, a kitchenette, three restrooms, and a large open space suitable for a conference room, group sessions, or additional office build-out. The property is located minutes from Downtown Covington, offering a tranquil and private setting. Pylon signage and proximity to major thoroughfares ensure visibility and ease of access. Medical users can easily convert private offices into exam rooms due to restroom plumbing access nearby.
Key Highlights
- Versatile ±2,597 SF freestanding building suitable for medical, counseling, or general office use.
- Multiple entrances and individual restrooms allow for easy subdivision or sub‑leasing.
- Located minutes from Downtown Covington, offering both a tranquil, private setting and convenient access.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,469
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$589,380
$589.4K
Cap Rate 7%
$420,986
$421.0K
Cap Rate 9%
$327,433
$327.4K
Market Conditions
NOI Build-Up for 2,597 SF
Gross rent
$50.8K $19.56/SF
− Vacancy
−$11.5K −$4.43/SF
EGI
$39.3K $15.13/SF
− OpEx
−$9.8K −$3.78/SF
NOI
$29.5K $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%
$589,380
Cap Rate 7%
$420,986
Cap Rate 9%
$327,433
Alternative Uses
Best Use
Healthcare Medical
$466.8K
$408.5K – $544.6K
NOI $32,678 @ 7.0% cap · market cap 9.90%
Second Best
Office B
$421.0K
$368.4K – $491.2K
NOI $29,469 @ 7.0% cap · market cap 8.93%
Theoretical Best
Multifamily LT 5
$28.00M
$24.50M – $32.66M
NOI $1,959,717 @ 7.0% cap · market cap 593.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Claiborne Hill Veterinary Hospital — 19607 LA-36, Covington, LA 70433
Frequently Asked Questions
What type of property is this?
Medical Office Space - Freestanding office building suitable for medical, counseling, or general use.
Where is this medical office space located?
The property is located at 20115 Hwy. 36 Covington, LA.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Versatile ±2,597 SF freestanding building suitable for medical, counseling, or general office use.; Multiple entrances and individual restrooms allow for easy subdivision or sub‑leasing.; Located minutes from Downtown Covington, offering both a tranquil, private setting and convenient access.
