Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    TBD Park Place Covington, LA 70433

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $24 SF/Yr

    Modern office space with flexible floor plans in Covington, Louisiana.

    Type:Office
    Property size:
    14,606 SF
    Added:
    Nov 26, 2025
    Days on Market:
    125
    Last Refresh:
    Mar 29 at 9:27 pm

    Property Features for TBD Park Place

    General Information

    Standard status
    Active
    Size
    14,606 SF
    Property subtype
    Office

    Building Details

    Year Built
    2025

    Spaces For Lease

    at TBD Park Place Contact us

    We can help!

    Listing Contact
    Will Watson, CCIM
    Will Watson, CCIM

    Listing agent Will Watson, CCIM License #995701278-ACT

    Listing office Lee & Associates | Baton Rouge

    Listing date Nov 26, 2025

    Source Lee-associates

    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 Lee & Associates | Baton Rouge

    Overview

    Covington Office Building For Rent

    Located in Covington, Louisiana, this two-story office building at Park Place offers a build-to-suit opportunity. The building provides approximately 14,600 square feet of modern and professional office space. Flexible floor plans can accommodate various tenant specifications. The property has excellent access to Highway 190 and Interstate 12. The surrounding area features a welcoming downtown with local shops, restaurants, and cultural attractions. Bogue Falaya Park is nearby, offering a peaceful spot for relaxation. The St. Tammany Art Association and nearby galleries are within walking distance. The area provides a vibrant setting with historic buildings and a strong sense of community. The property is situated in a professional business park setting.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Map

    City
    Covington
    County
    St. Tammany
    State
    Louisiana
    Longitude
    -90.1271
    Latitude
    30.4598

    Nearby Similar for Lease

    • $18/mo

      Upscale Office Building in Covington

      Class A office building for sale or lease in Covington.
      200 CAROLINE Court, Covington, LA 70433
      View Details
    • Contact for pricing

      Furnished Office Space in Covington

      Turnkey, modern office space in downtown Covington, move-in ready.
      820 E BOSTON Street, Covington, LA 70433
      View Details
    • Contact for pricing

      Office and Warehouse Space

      Well-maintained office and warehouse space available for lease.
      21175 HIGHWAY 36 None, Covington, LA 70435
      View Details
    • Contact for pricing

      Covington Office Building For Rent

      Office building with separate entrances and ample parking.
      19341 N 10TH Street, Covington, LA 70433
      View Details
    • Sponsored
      Contact for pricing

      LA, Covington- Holiday Blvd

      205 Holiday Blvd, Unit Covington LA 70433, Covington, LA 70433
      View Details
    • Contact for pricing

      Office Space Near I-12

      Office space with cubicles and desks near I-12.
      19411 HELENBIRG Road 201 A, Covington, LA 70433
      View Details
    • Contact for pricing

      Move-in Ready Office Suite

      Second-floor office suite available for lease in Covington, LA.
      19405 Helenbirg Rd Ste 203, Covington, LA, 70433-5197
      View Details
    • $35/mo

      New Shopping Center For Lease

      New shopping center in Covington, delivery expected late 2026.
      826 N Collins Blvd, Covington, LA
      View Details
    • Contact for pricing

      Medical Office Building For Rent

      Medical office building with exam rooms and lab space available.
      619 W 19 Avenue, Covington, LA 70433
      View Details
    • $28/mo

      Class A Office Building Sublease

      State-of-the-art Covington office building with immediate availability.
      1155 Hwy 190 East Service Rd, Unit 2, Covington, LA 70433
      View Details
    • $12/mo

      Retail Space in Covington Center

      Retail space available in established Covington shopping center.
      2100 N Collins Blvd, Covington, LA
      View Details
    • $12/mo

      Retail Space in Covington, LA

      Retail space available for lease in Covington, Louisiana.
      19352 N 2 street, Covington, LA
      View Details

    FAQs

    What type of property is this?
    Office building - Modern office space with flexible floor plans in Covington, Louisiana.
    Where is this office building located?
    The property is located at TBD Park Place Covington, LA.
    What is the lease rate?
    The lease rate is $24 SF/Yr.
    What are key features of this property?
    This property features: Build‑to‑suit opportunity with flexible floorplans.; Excellent access to Highway 190 and Interstate 12.; Modern and professional office space in a professional business park setting.
    (225) 332-0957
    We can help!
    Listing Contact
    Will Watson, CCIM
    Will Watson, CCIM
    Real Estate License ID: 995701278-ACT
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!