Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    629 Hwy Covington, LA 70433
    Back to Search
    Property profile & analytics

    629 Hwy, Covington, LA 70433

    View on Map
    • Retail properties & Spaces
    • 5,814 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 629 Hwy

    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional restaurant opportunity is located at 629 U.S. Hwy 190 in Covington, Louisiana, within St. Tammany Parish, zip code 70433. The property boasts 5,814 square feet of space, currently owner-occupied, and is offered at an asking price of $2,300,000 ($395.60 per square foot). The building features a very attractive exterior and interior, making it visually appealing to customers. Its prime location offers excellent highway frontage with convenient access to Interstate highways, ensuring high visibility and accessibility. A large parking lot provides ample space for patrons. The sale includes the building and all existing equipment, representing a turnkey operation. The property is available for occupancy starting February 29, 2024. This is a single-tenancy retail property ideal for an owner/user seeking a well-established restaurant in a high-traffic area. The property's location on US Highway 190 in Covington, LA offers significant potential for continued success.

    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
    -90.0838
    Latitude
    30.4396

    Comparable in this City

    • Value Estimation by Request

      1016 Ronald Reagan Hwy

      Restaurants
      1016 Ronald Reagan Hwy, Covington, LA 70433
      View Details
    • Value Estimation by Request
      8,446 SF

      4407 Highway 190 East Service Rd

      Restaurants
      4407 Highway 190 East Service Rd, Covington, LA 70433
      View Details
    • Value Estimation by Request
      3,065 SF

      69627 Stirling Blvd

      Restaurants
      69627 Stirling Blvd, Covington, LA 70433
      View Details
    • Value Estimation by Request

      70493 La-21

      Restaurants
      70493 La-21, Covington, LA 70433
      View Details
    • Value Estimation by Request

      1600 Highway 190

      Lifestyle centers
      1600 Highway 190, Covington, LA 70433
      View Details
    • Value Estimation by Request
      1,025,000 SF

      69292 La-21

      Retail properties & Spaces
      69292 La-21, Covington, LA 70433
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,250 SF

      Covington Mixed-Use Investment Opportunity

      Two tenant-occupied buildings with parking lot near Justice Center.
      810-816 N Columbia St, Covington, LA 70433
      View Details
    • Contact for pricing
      7,739 SF

      Retail Property on Pinnacle Parkway

      Retail property available for sale in Covington, Louisiana.
      Pinnacle Pkwy, Covington, LA 70433
      View Details
    • $220,000
      1,152 SF

      Covington Mixed-Use Potential

      Charming property with residential and commercial potential in Covington.
      822 W 21St Ave, Covington, LA 70433
      View Details
    • Contact for pricing
      Pending

      Turn Key Restaurant Opportunity

      4,000 SF restaurant with indoor and outdoor seating.
      1204 W 21St Ave, Covington, LA 70433
      View Details
    • Contact for pricing
      7,739 SF

      Restaurant Opportunity in Prime Location

      Restaurant building with equipment in high-traffic commercial area.
      7497 Pinnacle Pkwy, Covington, LA 70433
      View Details
    • Contact for pricing
      4,732 SF

      Express Oil Change Investment Opportunity

      NNN leased Express Oil Change with corporate guarantee.
      70516 La-21, Covington, LA 70433
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in River Chase

      Retail spaces for lease in established shopping destination.
      E Brewster Rd, Covington, LA 70433
      View Details
    • Contact for pricing

      Restaurant Opportunity in Prime Location

      Restaurant space in high-traffic commercial area near I-12.
      7497 Pinnacle Pkwy, Covington, LA 70433
      View Details
    • $31,647
      14,606 SF

      Retail Space in Covington, LA

      Retail space available for lease in St Tammany Parish.
      220 Park Place Dr, Covington, LA 70433
      View Details
    • Contact for pricing

      Highway 190 Shopping Center Space

      Neighborhood shopping center with easy access and steady traffic flow.
      19352 N 2Nd St, Covington, LA 70433
      View Details
    • Contact for pricing

      Retail Space in Established Corridor

      Prime retail space available in a well-established commercial area.
      2101 Highway 190 N, Covington, LA 70433
      View Details
    • Contact for pricing
      1,050 SF

      Retail Space in Covington, LA

      Retail space available for lease in Covington, Louisiana.
      19352 N 2Nd St, Covington, LA 70433
      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.
    629 Hwy
    Covington, LA 70433
    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
    629 Hwy, Covington, LA, 70433
    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!