Turn-Key Restaurant with Equipment
224 E 32ND Avenue Covington, LA 70433
For Sale
$495,000
COMMERCIAL - Covington, LA
Property Size1,131 SF
Lot Size0.13 Acres
Price / SF$437.67
Days on Market47
Property Features for 224 E 32ND Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C
- Parking features
- Off Street
- Standard status
- Active
- APN
- 70433224E32NDAV
- Size
- 1,131 SF
- Lot size
- 0.13 Acres
Utilities
- Water source
- Public
Building Details
- Year built
- 2005
- Floors in Building
- 1
Listing Agency:
1 Percent Lists
(985) 807-0001
Listed By:
Taylor Dossett Finn
(985) 807-0001
Added: Jun 10
Changed: Jun 25
Last Checked: Jul 26 at 3:06AM
MLS# 2562333
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully equipped, turn-key restaurant is ready for immediate operation. The sale includes tables, chairs, and the complete kitchen equipment package, supporting a straightforward transition for a new owner or operator. The property is offered in a single available commercial space designed for restaurant use, with the core front-of-house and back-of-house elements included.
Located at 224 E 32nd Avenue in Covington, Louisiana (St. Tammany Parish), the business is described as being just minutes from downtown Covington. The surrounding area is characterized in the listing remarks as a mix of local shops and established businesses, including proximity to the courthouse.
For a buyer looking to start quickly, the included furnishings and commercial kitchen equipment reduce the work required to begin serving customers. The seller has also indicated a willingness to lease back the property for 12 months at $2,000 per month, which may provide interim occupancy while the new owner transitions into their preferred operating plan. The listed property size is 1,131 square feet, situated on a 0.132-acre lot.
Located at 224 E 32nd Avenue in Covington, Louisiana (St. Tammany Parish), the business is described as being just minutes from downtown Covington. The surrounding area is characterized in the listing remarks as a mix of local shops and established businesses, including proximity to the courthouse.
For a buyer looking to start quickly, the included furnishings and commercial kitchen equipment reduce the work required to begin serving customers. The seller has also indicated a willingness to lease back the property for 12 months at $2,000 per month, which may provide interim occupancy while the new owner transitions into their preferred operating plan. The listed property size is 1,131 square feet, situated on a 0.132-acre lot.
Key Highlights
- Fully equipped restaurant includes all tables, chairs, and kitchen equipment
- Off‑street parking
- Built in 2005
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.2k | $24.96 |
| − Vacancy | −$1.3k | −$1.12 |
| EGI | $27.0k | $23.84 |
| − OpEx | −$6.7k | −$5.96 |
| NOI | $20.2k | $17.88 |
1,131 SF · lease $24.96/SF/yr · vacancy 4.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$288.9K
$252.8K – $337.0K
NOI $20,220 @ 7.0% cap · market cap 4.08%
Second Best
Industrial
$98.6K
$86.3K – $115.1K
NOI $6,904 @ 7.0% cap · market cap 1.39%
Theoretical Best
Multifamily LT 5
$12.19M
$10.67M – $14.22M
NOI $853,462 @ 7.0% cap · market cap 172.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Palmisano's Catering and Cafe
Take-out & Catering
FAQs
What type of property is this?
Conventional restaurant - Fully equipped restaurant for sale, including tables, chairs, and kitchen equipment, with option for 12-month leaseback.
Where is this conventional restaurant located?
The property is located at 224 E 32ND Avenue Covington, LA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Fully equipped restaurant includes all tables, chairs, and kitchen equipment; Off‑street parking; Built in 2005
