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    Penn Mill Rd Covington, LA 70435

    Sponsored
    For Sale
    $900,000

    Commercial Land, Hwy 190 Frontage

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 63.88-acre commercial land parcel in Covington, Louisiana, presents a unique investment opportunity. Located on Penn Mill Rd with significant frontage on Hwy 190 (320 feet) and over 2400 feet on Penn Mill Rd, this property is zoned A-1A and offers excellent potential for rezoning. Approximately 4 acres could be rezoned as HC2, allowing for a mixed-use residential and commercial development. The majority of the land falls within Flood Zone C. Its strategic location provides easy access to the amenities of downtown Covington (2.4 miles), including a variety of shopping and dining options, and is conveniently situated just 6 miles from I-12. The property's size and highway frontage make it ideal for a variety of development projects. The APN is 1070104167. Covington, a charming town with approximately 10,000 residents, boasts a rich blend of cultural attractions and natural beauty, situated 40 miles north of New Orleans on the Northshore of Lake Pontchartrain. This is a rare opportunity to acquire a substantial land holding in a rapidly growing area. The asking price is $900,000.

    Property Features for 0 Penn Mill Rd

    General Information

    Property type
    Land
    Lot Size
    2,782,613 SF

    HighLights

    • 63.88‑acre commercial land parcel in Covington, LA, with excellent rezoning potential; approximately 4 acres could be rezoned HC2 for mixed‑use development. Current zoning is A‑1A.
    • Prime location: 2.4 miles from downtown Covington and 6 miles from I‑12.
    • Desirable Northshore location, 40 miles north of New Orleans, in a growing community with a population of approximately 10,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Covington
    County
    St. Tammany Parish
    State
    Louisiana
    Longitude
    -90.1498669
    Latitude
    30.5037889

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    FAQs

    What type of property is this?
    Land - Commercial Land, Hwy 190 Frontage
    Where is this land located?
    The property is located at Penn Mill Rd Covington, LA.
    What is the asking price?
    The asking price for this property is $900,000.
    What are key features of this property?
    This property features: 63.88-acre commercial land parcel in Covington, LA, with excellent rezoning potential; approximately 4 acres could be rezoned HC2 for mixed-use development. Current zoning is A-1A.; Prime location: 2.4 miles from downtown Covington and 6 miles from I-12.; Desirable Northshore location, 40 miles north of New Orleans, in a growing community with a population of approximately 10,000.
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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
    Penn Mill Rd Covington, LA 70435
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