Ambulatory Surgical Center
915 S Harrison Street, Covington, LA 70433
For Sale
New
$1,800,000
Two Covington buildings combine a vacant surgical facility with four leased suites.
Property Size4,000 SF
Days on Market5
Property Features for 915 S Harrison Street
General Information
Standard status
Size
Additional Details
Tenant in Place
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Berkshire Hathaway HS - Mandeville
Listed By:
Jennifer S. Rice · License #000014564
(985) 966-1321
Source:
Talbot-realty
Added: Nov 2
Changed: Nov 4
Last Checked: Nov 6 at 5:04AM
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 Berkshire Hathaway HS - Mandeville
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The offering includes a vacant ambulatory surgical center at 915 S. Harrison Street and a neighboring rental building at 907 S. Harrison Street. The center contains one operating room and one procedure room, and meets Louisiana criteria for ASC licensure. Its approximately 4,000-square-foot building has been maintained, with interior cosmetic work identified as the remaining improvement need. The adjacent building contains four separately leased suites, providing rental income. The property is two blocks from the St. Tammany Parish Hospital emergency room. The record gives 2008 as the year built.
Key Highlights
- Approximately 4,000‑square‑foot surgical center with one operating room and one procedure room
- Meets Louisiana criteria for Ambulatory Surgical Center licensure
- Adjacent rental building includes four separately leased suites
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,332
Cap Rate
2.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,006,640
$1.0M
Cap Rate 7%
$719,029
$719.0K
Cap Rate 9%
$559,244
$559.2K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$87.8K $21.96/SF
− Vacancy
−$4.0K −$0.99/SF
EGI
$83.9K $20.97/SF
− OpEx
−$33.6K −$8.39/SF
NOI
$50.3K $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%
$1,006,640
Cap Rate 7%
$719,029
Cap Rate 9%
$559,244
Alternative Uses
Best Use
Healthcare Medical
$719.0K
$629.2K – $838.9K
NOI $50,332 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$43.12M
$37.73M – $50.31M
NOI $3,018,432 @ 7.0% cap · market cap 167.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,175
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Medical center - Two Covington buildings combine a vacant surgical facility with four leased suites.
Where is this medical center located?
The property is located at 915 S Harrison Street Covington, LA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Approximately 4,000‑square‑foot surgical center with one operating room and one procedure room; Meets Louisiana criteria for Ambulatory Surgical Center licensure; Adjacent rental building includes four separately leased suites
