Storefront with
For Sale
$450,000
516 S Tyler St, Covington, LA 70433
CN-zoned retail property with vehicle access and an existing drive-thru.
Property Size1,298 SF
Price / SF$346.69
Days on Market75
Property Features for 516 S Tyler St
General Information
Standard status
Active
Size
1,298 SF
Property subtype
Retail
Zoning
CN
Additional Details
Asking Price
$450,000
Drive-Thru
Yes
Amenities
Power
Water
Sewer
Drive-Thru
Building Details
Year Built
2008
Listing Agency:
Stirling Covington/Corporate
Listed By:
Bradley Cook · License #995712511
(225) 505-6009
Source:
Lacdb.resimplifi
Added: Aug 18
Changed: Oct 25
Last Checked: Oct 30 at 10:28AM
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 Stirling Covington/Corporate
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Investment Insights
Based on property information with market context.
Located at 516 S Tyler St in Covington, this 1,298-square-foot storefront property was built in 2008 and includes an existing drive-thru. The building is positioned along S Tyler St with visibility from the roadway, consistent daytime traffic, and convenient access.
The property carries CN zoning and combines a compact retail footprint with an established drive-thru improvement. Its address places the site near Downtown Covington, providing a recognizable commercial setting for the existing storefront configuration.
The property carries CN zoning and combines a compact retail footprint with an established drive-thru improvement. Its address places the site near Downtown Covington, providing a recognizable commercial setting for the existing storefront configuration.
Key Highlights
- 1,298 SF storefront property
- Existing drive‑thru
- CN zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,016
Cap Rate
2.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$260,320
$260.3K
Cap Rate 7%
$185,943
$185.9K
Cap Rate 9%
$144,622
$144.6K
Market Conditions
NOI Build-Up for 1,298 SF
Gross rent
$19.5K $15.00/SF
− Vacancy
−$876 −$0.68/SF
EGI
$18.6K $14.33/SF
− OpEx
−$5.6K −$4.30/SF
NOI
$13.0K $10.03/SF
Area
St. Tammany County, LA
Vacancy
4.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$260,320
Cap Rate 7%
$185,943
Cap Rate 9%
$144,622
Alternative Uses
Best Use
Retail
$185.9K
$162.7K – $216.9K
NOI $13,016 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$13.99M
$12.24M – $16.32M
NOI $979,481 @ 7.0% cap · market cap 217.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
951
Businesses Nearby
35k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 67%
Shops & Services 33%
SONIC Drive In
Dining
20,446 visits/mo
0.2 miles
Dollar General
Shops & Services
11,675 visits/mo
0.3 miles
Pizza Hut
Dining
2,747 visits/mo
0.3 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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Lazy Susan's — 506 E Rutland St, Covington, LA 70433
- C J's Florist — 228 W 21st Ave, Covington, LA 70433
- Bloom Room Covington — 100 S Tyler St #11a, Covington, LA 70433
Frequently Asked Questions
What type of property is this?
Storefront property - CN-zoned retail property with vehicle access and an existing drive-thru.
Where is this storefront property located?
The property is located at 516 S Tyler St Covington, LA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,298 SF storefront property; Existing drive‑thru; CN zoning
