Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Covington Off Of Brewster Rd Covington, LA 70433

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Covington Off Of Brewster Rd Covington, LA 70433

    View on Map
    • Land
    • 40.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for Covington Off Of Brewster Rd

    Lot size
    40.00 lot acres
    Property type
    Land

    Description

    This exceptional 40-acre parcel of land presents a unique investment opportunity in Covington, Louisiana. Located off Brewster Road, this property boasts convenient access via a recorded 60-foot servitude of passage, offering seamless connectivity to the nearby I-12 interstate, specifically Exit #59. The strategic location places residents within minutes of a vibrant array of shopping, dining, and entertainment options. The property's zoning is designated A-2, providing flexibility for various residential development plans. Importantly, this land is situated in Flood Zone X, minimizing flood risk. Never before offered on the market, this expansive tract presents an ideal setting for a large family compound or a significant residential development project. The property's size and location combine to create a rare opportunity in the desirable Covington area of St. Tammany Parish, Louisiana, with a zip code of 70433. The asking price for this remarkable property is $1,200,000. This is a truly exceptional opportunity to acquire a substantial piece of land in a prime location.

    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
    -90.1308
    Latitude
    30.4587

    Comparable in this City

    • Value Estimation by Request
      2.18 Acres

      15501 Ronald Reagan Hwy

      Multifamily properties • 2.18 Acres
      15501 Ronald Reagan Hwy, Covington, LA 70433
      View Details
    • Value Estimation by Request
      2.39 Acres

      15505 Ronald Reagan Hwy

      Multifamily properties • 2.39 Acres
      15505 Ronald Reagan Hwy, Covington, LA 70433
      View Details
    • Value Estimation by Request
      3.37 Acres

      Helenbirg Rd

      Land • 3.37 Acres
      0 Helenbirg Rd, Covington, LA 70433
      View Details
    • Value Estimation by Request
      1.63 Acres

      15503 Ronald Reagan Hwy

      Multifamily properties • 1.63 Acres
      15503 Ronald Reagan Hwy, Covington, LA 70433
      View Details
    • Value Estimation by Request
      4.07 Acres

      Terra Bella Blvd

      Multifamily properties • 4.07 Acres
      0 Terra Bella Blvd, Covington, LA 70433
      View Details
    • Value Estimation by Request
      1.09 Acres

      15507 Ronald Reagan Hwy

      Multifamily properties • 1.09 Acres
      15507 Ronald Reagan Hwy, Covington, LA 70433
      View Details

    Similar Nearby for Sale

    • $800,605
      8.28 Acres

      Highway 190 Commercial Land

      8.279 Acres, High Traffic Area
      0 Ronald Reagan Hwy US 190, Covington, LA 70433
      View Details
    • $118,000

      Land Near Downtown Covington

      1.5 acres near downtown Covington and St Tammany Hospital.
      2357 West 21St Ave, Covington, LA 70433
      View Details
    • $400,000

      Waterfront Land in Gated Community

      Land in a gated, waterfront community on the Tchefuncte River.
      Riv Clb Dr, Covington, LA 70433
      View Details
    • Contact for pricing

      Land Near Pine View School

      Land for sale across the street from Pine View Middle School.
      W 27Th Ave, Covington, LA 70433
      View Details
    • $1,695,181

      Covington Land Ideal for Development

      4.07 acres in TerraBella Village, Covington, Louisiana.
      Terrabella Vlg, Covington, LA 70433
      View Details
    • $250,000

      Waterfront Land in Gated Community

      Vacant land in a gated waterfront community on the Tchefuncte River.
      Riv Clb Dr, 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
    • $10,000 /Mo

      Commercial Land for Ground Lease

      1.56 acre tract available for ground lease.
      1850 Highway 190 N, Covington, LA 70433
      View Details
    • Contact for pricing

      Versailles Business Center Land Parcels

      Land parcels available for sale, lease, or build-to-suit.
      Holiday Square Blvd, 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
    • Contact for pricing

      Covington Retail/Office Space For Rent

      2,976 SF suite on Highway 190, adaptable for various uses.
      1170 Highway 190 N, Covington, LA 70433
      View Details
    • $24 SF/Yr

      Covington Office Building For Rent

      Modern office space with flexible floor plans in Covington, Louisiana.
      Tbd Park Pl, 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.
    Covington Off Of Brewster Rd
    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

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