Equipped Restaurant with
For Sale
$395,000
224 E 32ND Avenue, Covington, LA 70433
Commercial Sale, Covington, LA
Property Size1,131 SF
Lot Size0.13 Acres
Price / SF$349.25
Days on Market137
Property Features for 224 E 32ND Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
Parking features
Off Street
Directions
NORTH ON NORTH COLLINS BLVD TURN RIGHT ON TO EAST 32ND AVE
Standard status
Active
APN
70433224E32NDAV
Size
1,131 SF
Lot size
0.13 Acres
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2005
Floors in Building
1
Building materials
Metal Siding, Stucco
Listing Agency:
1 Percent Lists
(985) 807-0001
Listed By:
Taylor Renee Dossett Finn · License #995718439
(985) 264-8169
Added: Jun 10
Changed: Oct 23
Last Checked: Oct 24 at 12:06PM
MLS# 2562333
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,131-square-foot restaurant occupies a 0.132-acre parcel at 224 E 32ND Avenue in Covington. Built in 2005, the building has metal siding and stucco, with off-street parking. Tables, chairs, and kitchen equipment are included in the sale.
The property is near downtown Covington, local shops, the courthouse, and other businesses. It is zoned C, with public water and public sewer; natural gas is available. The current owner is willing to lease the property back for 12 months.
The property is near downtown Covington, local shops, the courthouse, and other businesses. It is zoned C, with public water and public sewer; natural gas is available. The current owner is willing to lease the property back for 12 months.
Key Highlights
- 1,131‑square‑foot restaurant on a 0.132‑acre parcel
- Tables, chairs, and kitchen equipment included
- Owner willing to lease back the property for 12 months
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,220
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,400
$404.4K
Cap Rate 7%
$288,857
$288.9K
Cap Rate 9%
$224,667
$224.7K
Market Conditions
NOI Build-Up for 1,131 SF
Gross rent
$28.2K $24.96/SF
− Vacancy
−$1.3K −$1.12/SF
EGI
$27.0K $23.84/SF
− OpEx
−$6.7K −$5.96/SF
NOI
$20.2K $17.88/SF
Area
St. Tammany County, LA
Vacancy
4.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,400
Cap Rate 7%
$288,857
Cap Rate 9%
$224,667
Alternative Uses
Best Use
Specialty Retail
$288.9K
$252.8K – $337.0K
NOI $20,220 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$12.19M
$10.67M – $14.22M
NOI $853,462 @ 7.0% cap · market cap 216.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
24k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 92%
Beauty & Spa 4%
Home Improvements & Furnishings 3%
Capital One Bank
Shops & Services
12,602 visits/mo
0.1 miles
Napa Auto Parts
Shops & Services
2,958 visits/mo
0.3 miles
Take 5 Oil Change
Shops & Services
2,864 visits/mo
0.3 miles
O'Reilly Auto Parts
Shops & Services
2,851 visits/mo
0.4 miles
Merle Norman Cosmetic Studio
Beauty & Spa
1,051 visits/mo
0.4 miles
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 Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Dining furniture and kitchen equipment are included, and the current owner is willing to remain under a 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 $395,000.
What are key features of this property?
This property features: 1,131‑square‑foot restaurant on a 0.132‑acre parcel; Tables, chairs, and kitchen equipment included; Owner willing to lease back the property for 12 months
