Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    324 Menetre Dr Covington, LA 70433-6010

    • Industrial land
    OFF-MARKET
    Last Sale
    Dec 21, 2023
    $60,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-1326871
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Industrial land

    Property Details for 324 Menetre Dr

    Property type
    Industrial land
    APN
    22607
    APU
    22607

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Saint Tammany
    State
    Louisiana
    Longitude
    -90.1219
    Latitude
    30.4822
    CBSA code
    35380
    CBSA name
    NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $710
    $6,000
    $0.00
    $6,000
    -
    $60,000
    $0.00
    $60,000

    Comparable in this City

    • Value Estimation by Request
      1.00 Acre

      1117 Taylor St

      INDUSTRIAL - VACANT LAND • 1.00 Acre
      1117 Taylor St, Covington, LA 70433-1307
      View Details
    • Value Estimation by Request

      1227 Hosmer St

      INDUSTRIAL - VACANT LAND
      1227 Hosmer St, Covington, LA 70433-1750
      View Details
    • Value Estimation by Request

      Inspiration Ln

      INDUSTRIAL - VACANT LAND
      Inspiration Ln, Covington, LA 70433
      View Details
    • Value Estimation by Request

      123 Maple Ln

      INDUSTRIAL - VACANT LAND
      123 Maple Ln, Covington, LA 70433-7415
      View Details
    • Value Estimation by Request

      114 Maple Ln

      INDUSTRIAL - VACANT LAND
      114 Maple Ln, Covington, LA 70433-7415
      View Details
    • Value Estimation by Request

      304 Morgan St

      INDUSTRIAL - VACANT LAND
      304 Morgan St, Covington, LA 70433-1634
      View Details

    Similar Nearby for Sale

    • $1,400,000
      69.04 Acres

      Land Ready For Development

      Three lots totaling 69.04 acres ready for development.
      11229 Hwy 190 Hwy W, Covington, LA 70433
      View Details
    • $295,000
      4.86 Acres

      Covington Vacant Industrial Land

      4.86 acre industrial land for sale in Covington, Louisiana.
      Regina Coeli Rd, Covington, LA 70433
      View Details
    • $295,000
      4.86 Acres

      Covington Industrial Land For Sale

      4.86 acre industrial land in high-growth Covington area.
      Regina Coeli Rd, Covington, LA 70433
      View Details
    • $150,000
      0.41 Acres

      Covington Commercial Land - $150K

      Prime commercial lot, Highway 190 access.
      0 13Th Ave, Covington, LA 70433
      View Details
    • $5,896,282
      6.00 Acres

      I-12 Covington Commercial Land

      High-visibility commercial land, I-12 frontage.
      69000 190 Service Rd, Covington, LA 70433
      View Details
    • $176,000
      0.50 Acres

      Prime Covington Commercial Land

      Half-acre lot, HC-2 zoning, high traffic.
      1695 Collins Blvd, Covington, LA 70433
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      780,595 SF

      Versailles Business Center Land

      Covington, LA: Prime Development Lots
      0 Holiday Square Blvd, Covington, LA 70433
      View Details
    • $10 SF/Yr
      90,000 SF

      River Chase Commercial Development

      Prime St. Tammany Retail & Office Space
      0 Brewster Rd, Covington, LA 70433
      View Details
    • $22 SF/Yr
      1,840 SF

      Prime Medical Office Space, Hwy 190

      Renovated Suite, Hwy 190, St. Tammany
      1200 Business Hwy 190, 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
    • $15 SF/Yr
      14,560 SF

      Covington Office Space Available

      1,276 SF Office Suite in Prime Location
      112 Innwoods Dr, Covington, LA 70433
      View Details
    • $10 SF/Yr
      915,000 SF

      River Chase Retail Space

      High-traffic St. Tammany retail center
      12 And Louisiana Hwy 21, 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.
    324 Menetre Dr
    Covington, LA 70433-6010
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.