401 Northpointe - Distribution FOR SALE


Covington, LA 70433
$7,800,000 USD
504-908-1282
401 Northpointe, Covington, LA for Sale
$7,800,000 USD
Distribution - FOR SALE
1/10
null | 5.8% Cap Rate

401 Northpointe
Covington, LA 70433


HIGHLIGHTS

  • Located in Northpointe Business Park across from FedEx’s regional hub, the property provides excellent connectivity to I-12 and I-10.
  • As one of the last sites zoned for 24/7 industrial use in the area, the property offers a competitive advantage in a supply-constrained submarket.
  • The building features tilt-up concrete walls, ESFR fire suppression, 24 dock-high doors, heavy 3-phase power, and an open-span design.
  • The 4.83-acre site includes a deep truck court and 75 paved parking stalls, offering efficient access and circulation for logistics operations.

OVERVIEW

Offered at $7,800,000 (~$114/SF), this newly built 68,386 SF Class A industrial warehouse presents a rare opportunity to acquire a high-quality, income-producing asset below replacement cost in a high-growth corridor. The property is approximately 83% leased to strong tenants on NNN leases, generating an estimated $455,000 in Year 1 net operating income, equating to a ~5.8% cap rate. With active marketing of the remaining 11,544 SF of high-bay vacancy at ~$8/SF NNN, the asset offers a clear path to stabilization and projected Year 2 NOI of ~$547,000 (~7.0% cap rate), delivering immediate income upside. Tenants reimburse all operating expenses, and many provide fixed NNN contributions that may exceed actual costs, creating additional profit through expense spread. This high-quality industrial asset combines stable in-place cash flow with near-term upside and long-term value creation, making it an attractive investment in one of the region’s most dynamic and rapidly growing submarkets.

FOR SALE DETAILS

PRICE

$7,800,000 USD

PRICE/SF

$114 USD /SF

CAP RATE

5.8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Northpointe Warehouse Distribution Center

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Distribution

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

UTILITIES

-

CLEAR CEILING HT

60 Ft

DOCKS

24

DRIVE INS

-

PARKING SPACES

75

LAND DETAILS

LAND ACRES

4.83

LAND SF

210,395

ZONING

I2

APN/PARCEL ID

2910

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504-908-1282

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