Historic Office Building with Separate
For Sale
$1,150,000
528 W 21st Ave, Covington, LA 70433
A rear office with a fireplace complements the building’s original architectural details and upper-floor space.
Property Size4,160 SF
Price / SF$276.44
Days on Market18
Property Features for 528 W 21st Ave
General Information
Standard status
Active
Size
4,160 SF
Building Details
Tenancy
Single
Abandoned
No
Listing Agency:
Crescent Commercial Real Estate, LLC
(985) 345-6802
Listed By:
David Dominguez · License #44621
(985) 630-2950
Source:
Exprealty
Added: Sep 30
Changed: Oct 16
Last Checked: Oct 16 at 1:55PM
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 Crescent Commercial Real Estate, LLC
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Investment Insights
Based on property information with market context.
This 4,160-square-foot office building retains much of its original architectural character, including oak floors, high ceilings and a prominent staircase. A separate entrance serves the 1,520-square-foot second floor. The rear addition provides a 480-square-foot office with beamed ceilings and a fireplace. The building is currently occupied by a law firm.
The property is one block from Tyler Street and Covington’s medical corridor. Parking and handicap access are available.
The property is one block from Tyler Street and Covington’s medical corridor. Parking and handicap access are available.
Key Highlights
- 4,160‑square‑foot office building with much of its original architectural character intact
- Separate entrance provides access to the 1,520‑square‑foot second floor
- Rear 480‑square‑foot office features beamed ceilings and a fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,205
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$944,100
$944.1K
Cap Rate 7%
$674,357
$674.4K
Cap Rate 9%
$524,500
$524.5K
Market Conditions
NOI Build-Up for 4,160 SF
Gross rent
$81.4K $19.56/SF
− Vacancy
−$18.4K −$4.43/SF
EGI
$62.9K $15.13/SF
− OpEx
−$15.7K −$3.78/SF
NOI
$47.2K $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%
$944,100
Cap Rate 7%
$674,357
Cap Rate 9%
$524,500
Alternative Uses
Best Use
Office B
$674.4K
$590.1K – $786.8K
NOI $47,205 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$44.85M
$39.24M – $52.32M
NOI $3,139,169 @ 7.0% cap · market cap 272.97%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,052
Businesses Nearby
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - A rear office with a fireplace complements the building’s original architectural details and upper-floor space.
Where is this office building located?
The property is located at 528 W 21st Ave Covington, LA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 4,160‑square‑foot office building with much of its original architectural character intact; Separate entrance provides access to the 1,520‑square‑foot second floor; Rear 480‑square‑foot office features beamed ceilings and a fireplace
