Building Details

Year Built 1990

Listing Agency: Coldwell Banker Commercial TEC Realtors

Listed By: Ron Patron · License #0995701890 Show Phone

Source: Lacdb.resimplifi

Added: Feb 1, 2021 Changed: Oct 25 Last Checked: Oct 24 at 1:32PM

Report an Issue

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

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

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 / Yr

$79,361

Cap Rate

8.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,587,220 $1.6M

Cap Rate 7%

$1,133,729 $1.1M

Cap Rate 9%

$881,789 $881.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,000 SF

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 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 (±1% cap)

NOI $96,367 @ 7.0% cap · market cap 10.72%

Second Best

Industrial

$1.13M

$992.0K – $1.32M (±1% cap)

NOI $79,361 @ 7.0% cap · market cap 8.83%

Theoretical Best

Multifamily LT 5

$140.14M

$122.62M – $163.50M (±1% cap)

NOI $9,809,904 @ 7.0% cap · market cap 1,091.20%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Acme Machine Welding Industrial Manufacturer Rapid Machine and MFG ... Industrial Manufacturer

Suggested Use

Top Pick Dental Office Hair Salon Nail Salon Kitchen & Bath Showroom Real Estate Agency Restaurant

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

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Similar For Sale Nearby

See more

Climate-Controlled Flex Facility

111 Pear St., Covington, LA 70433

$1,200,000

6,000 SF

View details

Warehouse and Office Flex Facility

1047 RONALD REAGAN Highway, Covington, LA 70433

$1,650,000

View details

Flex/Warehouse Units with Grade-Level Doors

74339 Airport Road, Covington, LA 70435

Contact for pricing

9,000 SF

View details

New Warehouse Suite

71363 Thelma Ln, Covington, LA 70433

$325,000

2,520 SF

View details

Multi-Building Mixed-Use Property

103 N Polk Street, Covington, LA 70433

$1,500,000

1,125 SF

View details

Multi-Building Mixed-Use Property

121 N Polk Street, Covington, LA 70433

$1,500,000

1,060 SF

View details

Mixed-Use Property with Retail Space

809 W 22ND Street lot: 7, Covington, LA 70433

$1,500,000

0.15 Acres

View details

Strip Center with On-Site Parking

1170 N Hwy 190, Covington, LA 70433

$1,250,000

10,200 SF

View details

Two-Building Office Property

810 N Columbia St, Covington, LA 70433

$1,200,000

8,880 SF

View details

Office Units with Long-Term Tenant

351 Holiday Blvd, Covington, LA 70433

$2,143,000

15,682 SF

View details

Pet Day Care Facility with Retail

19366 Robinwood Ln, Covington, LA 70433

$675,000

6,280 SF

View details

Two-Story Tenant-Occupied Office Building

20081 Highway 36, Covington, LA 70433

$670,000

6,000 SF

View details

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 Dr 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