Covington, LA Retail Property For Sale

Outparcel available next to the new Urban Air and Goldfish Swim School building. Located right off of Hwy 190 next to Home Depot.

THIS UNIQUE COTTAGE IS A 3BR/1.5BA HOME IN THE HEART OF THE CITY OF COVINGTON LOCATED ON APPROXIMATELY ONE ACRE OF LAND. THE PROPERTY HAS A LOT OF ORIGINAL ARCHITECTURAL DETAIL INCLUDING, CABINETRY, DOORS, FLOORS, AND STYLE. COME RESTORE BACK ITS ORIGINAL GLORY. HAS MANY POSSIBILITIES DUE TO ITS ZONING. ZONED (NC) NEIGHBORHOOD COMMERCIAL - BUSINESSES ALLOWED LIKE BAKERY, SMALL RESTAURANT, ANTIQUES STORE, PHARMACY, DANCE STUDIO, GROCERY STORE, ETC.

Beautiful 1800's building "In the Heart of Covington"available for sale. Excellent investment property. Currently used for a dental clinic. Cypress siding exterior, heart pine floors, 12' ceilings, one bathroom, kitchen area, 3 offices, large open area for seating or retail floor area. Raised structure, on-site parking for approximately 6 cars, on street Parking and rear OxLot parking provides ample parking for most businesses. Property has a commercial zoning designation (CO - Commercial, service and professional office district). All measurements included herein are approximate. Walking distance to restaurants, banks, shopping, museums, Bogue Falaya River Park, Covington Historic District.

AS OF MAY 1, 2023

Price Reduced, due to written offer

Was: $275,000.00

Now: $250,000.00

This site is ideal for any retail or office use. Tenants can be removed in May, 2023, or can re-lease and extend leases Tenants want to stay, but rents are too low, so our projections on the existing apartments are $28,800.00 annually, tenants are on month to month leases. This permits also a user to buy and occupy for a business.

ZONED COMMERCIAL, LOT IS 90 FEET FRONTING STREET, BY 120' IN DEPTH.

Great location, one street from Loews, Cane's, Whitney Bank, and new Federal Credit Union building under construction, that fronts N. Highway 190, and subject is directly behind new credit union.

Great commercial piece of land, just 1/2 block off N. Highway 190.

JUST LISTED: JUST COMPLETED A 100% RENOVATION, BRAND NEW ELECTRICAL SERVICES, HVAC SYSTEMS, PLUMBING, LIGHTING, INTERIOR WALLS, FLOORS, OUTLETS, ETC...Tenants:

1. State of Louisiana Elections Division-5,000sf., lease signed and moved in November/2022. 36 month, plus (2) 36 month leases.

2. Marco Investments- 800 sf., lease signed and moved in October, 2021. 24 month lease, plus (2) 24 month options.

3. Granite Co.- 2,500 sf., lease signed and moved in November, 2021. 36 month lease, plus (2) 36 ,month options.

4. Home School Classes- 5,000 sf., lease signed and moved in June/2021, 36 month lease, plus (2) 36 month options.

5. Pola Marketing Co.- 2,800 sf., lease signed and moved in November/2022. 24 month lease, plus (2) 24 month options.

6. Ballet & Dance Services- 3,000 sf., lease signed and moved in June/2019, 60 month lease, plus (2) 60 month options.

7. Gymnastics Co. - 2,000 sf. lease signed and moved in June/2019, 36 month lease, plus (2) 36 month options.

Gross Rents: $21,000.00/month or $253,200.00

Expenses Total: $37,500.00 (Taxes, Insurance, Common Lighting, all concrete).

NET OPERATING INCOME: $215,700.00

CAP RATE: 6.8% PERCENT

This site is ideal for a Hotel, National Restaurant, Retail or Professional Office High rise Building, in this well located site, between City of Mandeville, and the City of Covington, Louisiana, divided by the Interstate 12.

40 LOTS AND INCLUDES THE 2 TOWNHOMES IN THE REAR.

The property consists of a 21,600 sf, multi?tenant office building located on 1.74 acres along the south side of Holiday Boulevard in Covington. It is conveniently located off Hwy 190 just north of I-12, the most heavily traveled corridor in St. Tammany Parish, and easily accessible from Covington and Mandeville. This area is undergoing a period of tremendous development and growth, and the property sits directly behind a proposed AL DI grocery store.

Built in 1985, the office plaza contains four independent one-story sections that are connected through covered walkways and a small central courtyard. 201 Holiday provides a tremendous opportunity for an existing Class-B office building investment, or a redevelopment into an alternative use.

Vacant land with high traffic area in Covington, across from the Covington library.