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    Versailles Business Pkwy Folsom, LA 70433

    Sponsored
    For Sale
    $869,022

    Prime 2.66-acre commercial lot in Covington, LA.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2.66-acre commercial land parcel, designated as Lot 8 within the prestigious Versailles Business Park, presents a unique investment opportunity in Covington, Louisiana. Located at 0 Versailles Business Parkway, 70433, this property boasts convenient access to major thoroughfares including Highway 190, Interstate 12, and the Causeway, ensuring high visibility and accessibility. Zoned as a Planned Unit Development (PUD), this versatile lot offers a wide array of permitted uses, including but not limited to medical facilities, office spaces, hospitality ventures, and self-storage facilities. Detailed permitted use information is available upon request. The asking price is $869,022, translating to approximately $326,700 per acre. With no wetland concerns, this property offers a clean slate for development, promising a streamlined construction process. The average rental rate is projected at $7.50 per square foot, making this a potentially lucrative investment with strong long-term growth potential. This prime location in St. Tammany Parish offers a thriving business environment and a strategic advantage for any commercial enterprise. Seize this opportunity to acquire a highly desirable commercial lot in a rapidly developing area.

    Property Features for 0 Versailles Business Pkwy

    General Information

    Property type
    Land
    Lot Size
    115,870 SF

    HighLights

    • 2.66‑acre commercial lot in Covington, LA's Versailles Business Park.
    • Located at 0 Versailles Business Parkway, 70433, with easy access to major highways (Highway 190, I‑12, Causeway).
    • Planned Unit Development (PUD) zoning allows for various uses including medical, office, hospitality, and self‑storage.
    • Asking price: $869,022 ($326,700/acre).
    • No wetlands, promising efficient development.
    • Projected average rental rate: $7.50/sq ft.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Folsom
    County
    St. Tammany Parish
    State
    Louisiana
    Longitude
    -90.0921335
    Latitude
    30.4329202

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    FAQs

    What type of property is this?
    Land - Prime 2.66-acre commercial lot in Covington, LA.
    Where is this land located?
    The property is located at Versailles Business Pkwy Folsom, LA.
    What is the asking price?
    The asking price for this property is $869,022.
    What are key features of this property?
    This property features: 2.66-acre commercial lot in Covington, LA's Versailles Business Park.; Located at 0 Versailles Business Parkway, 70433, with easy access to major highways (Highway 190, I-12, Causeway).; Planned Unit Development (PUD) zoning allows for various uses including medical, office, hospitality, and self-storage.
    (985) 629-3500
    Request Owner's contact information
    Versailles Business Pkwy Folsom, LA 70433
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    Folsom, LA 70433
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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
    Versailles Business Pkwy Folsom, LA 70433
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