0 Highway 21 Covington, LA 70435
This exceptional 1.71-acre commercial land parcel presents a prime development opportunity in Covington, Louisiana. Strategically located at the northeast corner of Highway 21 and Pinnacle Parkway, this site boasts exceptional visibility and accessibility. Highway 21 sees 21,612 vehicles per day, while the heavily trafficked Interstate 12 (74,375 vpd) is conveniently located just south of the property. The intersection of Highway 21 and Pinnacle Parkway features a fully signalized traffic light. This location offers immediate proximity to a thriving retail center anchored by established businesses such as Kohl's, Hobby Lobby, Academy Sports, Petco, and a 159,000-square-foot Costco currently under construction. Further enhancing the area's appeal, Our Lady of the Lake is slated to begin construction on a new medical facility in 2024 on adjacent land. This property's high traffic counts, strategic location within a rapidly growing commercial corridor, and proximity to major retailers and a future medical facility make it an exceptional investment opportunity. The asking price for this remarkable development site is $1,900,000. The property is situated in St. Tammany Parish, Louisiana, with a zip code of 70435.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
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Property description
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No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.