Listing Agency: Joseph Kott, Broker

Listed By: Joseph Kott · License #099562307 Show Phone

Source: Exprealty

Added: Oct 9 Changed: Oct 11 Last Checked: Oct 12 at 8:43PM

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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 Joseph Kott, Broker

Investment Insights

Based on property information with market context.

Medical office space at 612 S Tyler St in Covington offers more than 3,600 square feet for a customizable buildout. The property has historically served as doctors’ offices, and its existing configuration can be renovated to suit a new plan. Sixteen dedicated parking spaces are included.

The property is on Tyler Street, a high-traffic corridor, within blocks of St. Tammany Hospital and downtown Covington.

Key Highlights

• More than 3,600 square feet of commercial office space
• 16 dedicated parking spaces
• Historically used for doctors’ offices

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$45,299

Cap Rate

6.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$905,980 $906.0K

Cap Rate 7%

$647,129 $647.1K

Cap Rate 9%

$503,322 $503.3K

Market Conditions

NOI Build-Up for 3,600 SF

Gross rent

$79.1K $21.96/SF

− Vacancy

−$3.6K −$0.99/SF

EGI

$75.5K $20.97/SF

− OpEx

−$30.2K −$8.39/SF

NOI

$45.3K $12.58/SF

Area

St. Tammany County, LA

Vacancy

4.50%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$905,980

Cap Rate 7%

$647,129

Cap Rate 9%

$503,322

Alternative Uses

Best Use

Healthcare Medical

$647.1K

$566.2K – $755.0K (±1% cap)

NOI $45,299 @ 7.0% cap · market cap 6.47%

Second Best

Office B

$583.6K

$510.6K – $680.8K (±1% cap)

NOI $40,850 @ 7.0% cap · market cap 5.84%

Theoretical Best

Multifamily LT 5

$38.81M

$33.96M – $45.28M (±1% cap)

NOI $2,716,589 @ 7.0% cap · market cap 388.08%

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

Northlake Hematology Oncology Medical Clinic Dr. Allen R. ... Physician Northlake Hematology Oncology: ... Physician Dr. R D. ... Physician Dr. Harvey Nicaud Alternative Medicine Practice

Suggested Use

Top Pick Parking Lot & Garage Grocery & Convenience Store (Bike/Boat/Book/etc) Store Computer & Electronic Repair Auto Parts Store Tech Support Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

951

Businesses Nearby

Well-served

Demand for This Use

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

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Medical Office Space - More than 3,600 square feet of office space includes 16 dedicated parking spaces and a buildout that can be renovated to suit.

Where is this medical office space located?

The property is located at 612 S Tyler St Covington, LA.

What is the asking price?

The asking price for this property is $700,000.

What are key features of this property?

This property features: More than 3,600 square feet of commercial office space; 16 dedicated parking spaces; Historically used for doctors’ offices