Covington Industrial Property with
For Sale
$899,000
73526 Bollfield Drive, Covington, LA 70435
I1 zoned industrial property featuring four warehouses and cleared land.
Property Size13,000 SF
Price / SF$69.15
Days on Market269
Property Features for 73526 Bollfield Drive
General Information
Standard status
Active
Size
13,000 SF
Property subtype
Industrial
Listing Agency:
Coldwell Banker Commercial TEC Realtors
(504) 782-9373
Listed By:
Ron Patron · License #0995701890
(504) 782-9373
Source:
Cbcworldwide
Added: Dec 3, 2025
Changed: Jul 6
Last Checked: Apr 9 at 9:00PM
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 Coldwell Banker Commercial TEC Realtors
Investment Insights
Based on property information with market context.
This industrial property is located in Covington and is zoned I1. It features four separate warehouses totaling 13,000 square feet. The entire property is surrounded by a fence. The buildings are well insulated and have the ability to use climate control. There is 1.0 acre of cleared land with a limestone base that can be used for additional storage or large truck parking. Each warehouse has overhead cranes that are available for purchase.
Key Highlights
- I1 Zoned Industrial Property
- Four Separate Warehouses Totaling 13,000 SF
- 1.0 Acre of Cleared Land with Limestone Base
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$79,361
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,587,220
$1.6M
Cap Rate 7%
$1,133,729
$1.1M
Cap Rate 9%
$881,789
$881.8K
Market Conditions
NOI Build-Up for 13,000 SF
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.
Gross rent
$117.0K $9.00/SF
− Vacancy
−$3.6K −$0.28/SF
EGI
$113.4K $8.72/SF
− OpEx
−$34.0K −$2.62/SF
NOI
$79.4K $6.10/SF
Area
St. Tammany County, LA
Vacancy
3.10%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,587,220
Cap Rate 7%
$1,133,729
Cap Rate 9%
$881,789
Alternative Uses
Best Use
Warehouse
$1.38M
$1.20M – $1.61M
NOI $96,367 @ 7.0% cap · market cap 10.72%
Second Best
Industrial
$1.13M
$992.0K – $1.32M
NOI $79,361 @ 7.0% cap · market cap 8.83%
Theoretical Best
Multifamily LT 5
$140.14M
$122.62M – $163.50M
NOI $9,809,904 @ 7.0% cap · market cap 1,091.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
157
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70435, LA
20,828
Population
8,970
Households
2.3
Avg Household Size
42
Median Age
34%
College-Educated
90%
High-School Grad
104.1 sq mi
ZIP Area
200
Density / Sq Mi
$81,318
Median Household Income
$45,685
Median Earnings
$1,231
Median Rent
$271,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Presidential Storage Covington — 1021 Ronald Reagan Hwy, Covington, LA 70433
- Storage Rentals of America — 74145 LA-25, Covington, LA 70435
- Infinity Self Storage — 74358 LA-25, Covington, LA 70435
- Northshore Work Trucks — 74358 LA-25, Covington, LA 70435, United States
- KT Storage Park — 17981 Painters Row, Covington, LA 70433
Frequently Asked Questions
What type of property is this?
Warehouse - I1 zoned industrial property featuring four warehouses and cleared land.
Where is this warehouse located?
The property is located at 73526 Bollfield Drive Covington, LA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: I1 Zoned Industrial Property; Four Separate Warehouses Totaling 13,000 SF; 1.0 Acre of Cleared Land with Limestone Base
