Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    73015 La-25 Covington, LA 70435
    Back to Search
    Property profile & analytics

    73015 La-25, Covington, LA 70435

    View on Map
    • Retail properties & Spaces
    • 12,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 73015 La-25

    Property type
    Retail properties & Spaces

    Description

    This exceptional retail property, located at 73015 LA-25 in Covington, Louisiana, offers 12,000 square feet of space with multiple tenancy options. Currently, the center houses an Urgent Care facility, Subway, and PJ's Coffee, showcasing its appeal to a diverse range of businesses. Two spaces are immediately available, ranging from a minimum of 1,358 square feet to a maximum contiguous space of 1,495 square feet. A total of 2,853 square feet is currently vacant and ready for occupancy. The property is situated in a prime location at the northwest quadrant of the intersection of Highway 190 and Highway 25, a rapidly developing area of Covington. This high-visibility location benefits from significant traffic flow and proximity to numerous residential subdivisions, apartments, and established businesses including CVS, Walgreens, Winn-Dixie, and McDonald's. The lease terms are Net, Net, Net (NNN), with tenants responsible for their own utilities. This presents a unique opportunity for medical or other retail businesses seeking a well-positioned space within a thriving community in St. Tammany Parish, zip code 70435. Minimum divisible space is 1,358 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    St. Tammany Parish
    State
    Louisiana
    Longitude
    -90.1087
    Latitude
    30.5008

    Comparable in this City

    • Value Estimation by Request
      84.00 Acres

      25 Near Hwy 190

      Land
      25 Near Hwy 190, Covington, LA 70435
      View Details
    • Value Estimation by Request
      0.85 Acres

      Johnsen Rd

      MOBILE HOME PARK, TRAILER PARK
      Johnsen Rd, Covington, LA 70435
      View Details
    • Value Estimation by Request
      2.00 Acres

      72503 Pansy St

      VACANT COMMERCIAL LAND
      72503 Pansy St, Covington, LA 70435-5832
      View Details
    • Value Estimation by Request

      34 Ramblewood Dr

      MOBILE HOME PARK, TRAILER PARK
      34 Ramblewood Dr, Covington, LA 70435-2238
      View Details
    • Value Estimation by Request
      0.64 Acres

      381 Ramsey Ct

      MOBILE HOME PARK, TRAILER PARK
      381 Ramsey Ct, Covington, LA 70435-5554
      View Details
    • Value Estimation by Request

      241 Highland Crst Dr

      MOBILE HOME PARK, TRAILER PARK
      241 Highland Crst Dr, Covington, LA 70435-3914
      View Details

    Similar Nearby for Sale

    • $568,000
      16.00 Acres

      Covington Land: Privacy and Space

      16 acres of land for family compound or custom estate.
      Pellegrin Dr, Covington, LA 70435
      View Details
    • $299,000
      2.08 Acres

      Land in Nature Preserve

      2.08 acre homesite in Covington nature preserve.
      21133 Little Riv Ct, Covington, LA 70435
      View Details
    • Contact for pricing

      Residential Lot Near Highway 36

      Large lot near Hwy 36, convenient to local attractions.
      Carnation St, Covington, LA 70435
      View Details
    • $284,000
      8.00 Acres

      Covington Land Parcel For Sale

      8 acre land parcel for sale in Covington, Louisiana.
      Pellegrin Dr, Covington, LA 70435
      View Details
    • $100,000
      5.00 Acres

      Wooded Land Parcel in Covington

      5-acre wooded parcel for building a dream home.
      Pine Hollow Rd, Covington, LA 70435
      View Details
    • Contact for pricing

      St Tammany Industrial Land Available

      14.50 acres of I-2 industrial land in St Tammany.
      Branch Crossing Dr, Covington, LA 70435
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in High-Growth Area

      Retail space available in a rapidly developing Covington location.
      73015 La-25, Covington, LA 70435
      View Details
    • $4,500 /Mo
      4,000 SF

      Office and Warehouse Space Available

      Well-maintained office and warehouse space for lease in Covington, LA.
      21175 Highway 36, Covington, LA 70435
      View Details
    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.
    73015 La-25
    Covington, LA 70435
    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

    Thank You for Inquiry
    73015 La-25, Covington, LA, 70435
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!