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Property profile

0 Penn Mill Rd Covington, LA 70435

OFF-MARKET
Land
63.88 ac lot
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Property summary

AI-generated overview

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 profile

Verified
Property type Land
Lot 63.88 ac (2,782,613 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

Penn Mill Rd Covington, LA 70435
Covington metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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