Medical Center with Adjacent Rental
915 S Harrison Street, Covington, LA 70433
For Sale
$1,800,000
Commercial Sale, Covington, LA
Property Size4,000 SF
Lot Size0.33 Acres
Price / SF$450
Days on Market12
Property Features for 915 S Harrison Street
General Information
Property type
Property subtype
Zoning
Parking
Parking features
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Sewer type
Cooling system
Water source
Building Details
Year built
Floors in Building
Building materials
Buildings
Listing Agency:
Berkshire Hathaway HS - Mandeville · Berkshire Hathaway HomeServices
(985) 951-2324
Listed By:
Jennifer S. Rice · License LA #000014564
(985) 966-1321
Added: Nov 2
Changed: Nov 6
Last Checked: Nov 13 at 7:06PM
MLS# 200JJL
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
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The offering combines a 4,000-square-foot, freestanding medical center with an adjacent building that contains four separately leased suites. The medical facility has one operating room and one procedure room and meets Louisiana criteria for licensure as an ambulatory surgical center. Built in 2008 with brick construction, it is described as maintained, with interior cosmetic work identified as the remaining improvement need. The medical center is vacant, while the neighboring suites provide current rental income.
Both buildings are at 915 and 907 S. Harrison Street in Covington. The property is zoned COM and occupies a 0.3274-acre lot. Public water and public sewer serve the property, with off-street parking and multiple cooling units.
Both buildings are at 915 and 907 S. Harrison Street in Covington. The property is zoned COM and occupies a 0.3274-acre lot. Public water and public sewer serve the property, with off-street parking and multiple cooling units.
Key Highlights
- 4,000‑square‑foot ambulatory surgical center with one operating room and one procedure room
- Louisiana criteria for licensure as an Ambulatory Surgical Center
- Adjacent building has four separately leased rental 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
Specialty Retail
$1.02M
$893.9K – $1.19M
NOI $71,510 @ 7.0% cap · market cap 3.97%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Medical center - A vacant surgical facility is offered with a neighboring building containing four leased suites and current rental income.
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: 4,000‑square‑foot ambulatory surgical center with one operating room and one procedure room; Louisiana criteria for licensure as an Ambulatory Surgical Center; Adjacent building has four separately leased rental suites
