Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Brewster Rd Covington, LA 70433
    Property profile & analytics

    Brewster Rd, Covington, LA 70433

    View on Map
    • Retail properties & Spaces
    • 90,000 SF
    • 253.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Brewster Rd

    Lot size
    253.00 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional St. Tammany Parish commercial development offers a unique investment opportunity. The property encompasses 253 acres (57.94 acres of buildable land) and boasts a total of 90,000 square feet of existing and planned retail and office space. Currently, 11,915 square feet of retail space is available, divisible into units as small as 1,000 square feet and up to a contiguous 3,600 square feet. Six spaces are immediately available. Future construction includes two Class A office buildings totaling 94,549 square feet, opening in Q4 2024 and Q3 2025, and a 16,450 square foot office building opening in Q3 2025. The development is strategically located at the intersection of Interstate 12 and Louisiana Highway 21, benefiting from high visibility and convenient access. Anchored by major retailers such as Sam's Club, Target, Belk, and JCPenney, this center is the largest shopping destination in St. Tammany Parish and one of the largest open-air shopping centers in Louisiana, attracting nearly 7 million visitors in 2023. The site is Louisiana Economic Development (LED) certified and zoned for retail, outparcels, office, and multi-family use, with on-site residential development already underway, including patio homes, townhomes, and multi-family units. This prime location offers unparalleled access, convenience, and visibility along one of the nation's fastest-growing corridors. The property presents a rare chance to be part of a thriving, established retail center with significant growth potential. Inquire today for pricing and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    St. Tammany Parish
    State
    Louisiana
    Longitude
    -90.1312
    Latitude
    30.4403

    Comparable in this City

    • Value Estimation by Request
      2.74 Acres

      Innwood Dr

      Land
      0 Innwood Dr, Covington, LA 70433
      View Details
    • Value Estimation by Request

      Holiday Square Blvd

      Office Units
      0 Holiday Square Blvd, Covington, LA 70433
      View Details
    • Value Estimation by Request
      2,053 SF

      1017 Village Walk

      Office Spaces
      1017 Village Walk, Covington, LA 70433
      View Details
    • Value Estimation by Request

      1016 Ronald Reagan Hwy

      Restaurants
      1016 Ronald Reagan Hwy, Covington, LA 70433
      View Details
    • Value Estimation by Request
      1.18 Acres

      752 Columbia St

      Land
      752 Columbia St, Covington, LA 70433
      View Details
    • Value Estimation by Request

      1200 Business Hwy 190

      Medical Office Space
      1200 Business Hwy 190, Covington, LA 70433
      View Details

    Similar Nearby for Sale

    • 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
    • $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
    • $1,288,000

      Land For Sale Covington

      Land available in Covington, Louisiana.
      5100 Village Walk, 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

      Prime Retail Space in Covington

      Retail space available in a large shopping center.
      12 And Louisiana Hwy 21, Covington, LA 70433
      View Details
    • Contact for pricing

      Land For Rent Covington

      Land available for rent in Covington, Louisiana.
      128 Northpark Blvd, Covington, LA 70433
      View Details
    • $4,800 /Mo
      3,300 SF

      Covington Retail/Office Space Available

      Retail and office space for rent in Covington, Louisiana.
      125 Theard St, Covington, LA 70433
      View Details
    • Contact for pricing

      New Metairie Bank Branch Space

      New bank branch space with signage and TI allowance.
      70496 Highway 21, Covington, LA 70433
      View Details
    • Contact for pricing
      Pending

      Two-Story Commercial Office Space

      Two-story commercial office space with ample room to grow.
      20081 Highway 36, 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.
    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

    Thank You for Inquiry
    Brewster Rd, 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!