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    Falconer Dr Covington, LA 70433

    For Sale
    $864,000

    3.96-Acre Development Site

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 3.96-acre commercial land parcel, located in Covington, Louisiana, presents a unique investment opportunity. Situated on Falconer Drive, directly behind Lowe's and near other major retailers, this property boasts a prime location with high visibility and accessibility. Zoned NC-4, it's ideally suited for retail, office, or multi-family development. The site benefits from central water and sewer access and is located in Flood Zone X. The property is comprised of three contiguous parcels (Squares 29, 30, and 156), offering flexibility for various development scenarios. Individual parcels are available for purchase at varying prices per square foot, with the entire 3.96-acre site offered at $5 per square foot for a total of $864,000. The seller will also consider ground lease options. The property's strategic location, coupled with the potential for subdivision or rezoning, makes it an attractive proposition for developers seeking a high-impact project in a thriving commercial area. Note that undeveloped streets may be subject to parish approval. The APN is 1070114707. The property's address is Falconer Dr, Covington, LA 70433.

    Property Features for 0 Falconer Dr

    General Information

    Property type
    Land
    Lot Size
    57,499 SF

    HighLights

    • 3.96‑acre NC‑4 zoned corner lot at Falconer Dr./Crestwood Dr., adjacent to Lowe's.
    • Excellent for retail, office, or multifamily development.
    • Subdivision or rezoning potential.
    • Located in Flood Zone X.
    • Square 156 available separately for $7/SF ($403,200).
    • Square 29 available separately for $6/SF ($345,600).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Covington
    County
    St. Tammany Parish
    State
    Louisiana
    Longitude
    -90.0775982
    Latitude
    30.4496262

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    FAQs

    What type of property is this?
    Land - 3.96-Acre Development Site
    Where is this land located?
    The property is located at Falconer Dr Covington, LA.
    What is the asking price?
    The asking price for this property is $864,000.
    What are key features of this property?
    This property features: 3.96-acre NC-4 zoned corner lot at Falconer Dr./Crestwood Dr., adjacent to Lowe's.; Excellent for retail, office, or multifamily development.; Subdivision or rezoning potential.
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    Realmo Value Estimation

    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.

    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.

    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
    Falconer Dr Covington, LA 70433
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