Turn-Key Restaurant for
224 E 32nd Ave Covington, LA 70433
224 E 32nd Ave, Covington, LA, 70433
$495,000
For Sale
$495,000
Fully equipped restaurant includes tables, chairs, and kitchen equipment, ready for immediate operation.
Property Size1,131 SF
Price / SF$437.67
Days on Market43
Property Features for 224 E 32nd Ave
General Information
- Standard status
- Active
- Size
- 1,131 SF
Listing agency
1 Percent Lists
(985) 264-8169
Listed by
Taylor Dossett Finn
(985) 264-8169
Source
Exprealty
Added: Jun 10 Updated: Jul 22 at 4:37AM Checked: Jul 22 at 4:37AM
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 1 Percent Lists
Investment Insights
Based on property information with market context.
This fully equipped, turn-key restaurant is offered for sale with the included tables, chairs, and kitchen equipment. The property is presented as move-in ready for an operator seeking to open without needing to source core furnishings and kitchen items.
The restaurant is located just minutes from downtown Covington and is surrounded by local shops, the courthouse, and other nearby businesses.
The sale also includes the current owner’s willingness to lease back the property for 12 months at $2,000 per month, providing immediate income following closing.
The restaurant is located just minutes from downtown Covington and is surrounded by local shops, the courthouse, and other nearby businesses.
The sale also includes the current owner’s willingness to lease back the property for 12 months at $2,000 per month, providing immediate income following closing.
Key Highlights
- Fully equipped restaurant includes all tables, chairs, and kitchen equipment
- Includes a 12‑month lease‑back option at $2,000 per month
- Located just minutes from downtown Covington
Local 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
—
—
no second resolved use
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
Location Intelligence
Current Use by Public Records
Palmisano's Catering and Cafe
Take-out & Catering
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Fully equipped restaurant includes tables, chairs, and kitchen equipment, ready for immediate operation.
Where is this conventional restaurant located?
The property is located at 224 E 32nd Ave 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; Includes a 12‑month lease‑back option at $2,000 per month; Located just minutes from downtown Covington
