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    Corner Office Suite Title is generated by Realmo AI

    720 W 21ST Avenue, Covington, LA 70433

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    Claim this Listing
    For Lease
    $1,983/Mo $28 SF/Yr (calc)

    SINGLE_FAMILY - Covington, LA

    Type:Office
    Property size:
    850 SF
    Added:
    Mar 11, 2026
    Days on Market:
    84
    Last Refresh:
    Jun 2 at 11:06 pm

    Property Features for 720 W 21ST Avenue

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    Com
    Standard status
    Active
    APN
    720w21
    Size
    850 SF

    Taxes and HOA fees

    Expense value
    1983
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2010
    Floors in Building
    1

    We can help!

    Listing Contact
    Spencer Rossie
    Spencer Rossie

    Listing agent Spencer Rossie License #995717650

    Listing office Century 21 J. Carter & Company 3540 S I-10 Service Rd W, Metairie, LA

    Listing date Mar 11, 2026

    MLS# 2546844

    Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Office suite in Covington with corner‑suite layout and a receptionist area
    • Large open office workspace suitable for a variety of professional uses
    • Central heating and central air conditioning
    • Built in 2010
    • Public water source
    • Ample on‑site parking for clients and staff

    Overview

    An office suite is available in a prime Covington location, featuring a corner configuration designed for visibility and efficient day-to-day use. Inside, the space includes a welcoming receptionist area along with a large open office workspace that can support a range of professional operations.

    The suite is positioned for strong accessibility and daily exposure, situated between Downtown Covington and Hwy 21. It also offers ample on-site parking for clients and staff, helping streamline arrivals and appointments.

    This layout is a practical fit for service-oriented professional users that want a prominent corner presence and flexible open-plan work area. With dedicated receptionist space and convenient parking, the suite is well-suited for teams looking to meet clients on-site while keeping day-to-day operations in a shared, adaptable environment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Gene Veillon & Associates, ... Accounting Firm Microchip ID Systems Industrial Manufacturer Simon & Simon Financial ... Financial Advisor Everett Heating and Cooling, ... Hardware & Home Improvement

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Law Firm Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    St. Tammany
    State
    Louisiana
    Longitude
    -90.10672
    Latitude
    30.478903

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    FAQs

    What type of property is this?
    Office units - Corner office suite with receptionist area and large open workspace, supported by ample on-site parking for staff and clients.
    Where is this office units located?
    The property is located at 720 W 21ST Avenue Covington, LA.
    What is the lease rate?
    The lease rate is $1,983 /Mo.
    What are key features of this property?
    This property features: Office suite in Covington with corner‑suite layout and a receptionist area; Large open office workspace suitable for a variety of professional uses; Central heating and central air conditioning
    (504) 810-2825
    We can help!
    Listing Contact
    Spencer Rossie
    Spencer Rossie
    Real Estate License ID: 995717650
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    720 W 21ST Avenue, Covington, LA 70433
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