68700 Highway 190 Service Rd - Hospitality FOR SALE


Covington, LA 70433
$7,000,000 USD
404-398-2090
68700 Highway 190 Service Rd, Covington, LA for Sale
$7,000,000 USD
Hospitality - FOR SALE
1/26
null | Request Cap Rate

68700 Highway 190 Service Rd
Covington, LA 70433


HIGHLIGHTS

  • Renovated Hotel. Minimal Transfer PIP.
  • Seller has spent Significant Capex Improvements including the New Hampton Inn Exterior on the Building
  • Absentee Owner. Management Company Operated.
  • Revenue as of 05-31-25 is higher compared to last year
  • Revenue has been Going Up Year Over Year Since the Renovation
  • Well Performing Hotel. 2025 Revenue is Ramping Up.

OVERVIEW

Rooms: 72 Interior Corridor Year Built: 2001 Lot Size: 1.6 acres 3 Stories Hotel is located Right Off Interstate I-12 and US-190 Close to all demand generators Bank Financing Available Renovated Hotel Minimal Transfer PIP Renovated Hotel Seller has spent Significant Capex Improvements including the New Hampton Inn Exterior on the Building Absentee Owner. Management Company Operated. Revenue as of 05-31-25 is higher compared to last year Revenue has been Going Up Year Over Year Since the Renovation Well Performing Hotel 2025 Revenue is Ramping Up Hampton Inn - Covington - LA is located right off Interstate I-12 and US-190 on the Northshore, four miles from downtown Covington. It is 6 miles from the UCM Museum and 7 miles from Fairview-Riverside State Park. Mandeville is just seven miles away and the Louis Armstrong New Orleans International Airport is 39 miles from the hotel. Attractions: Pelican Park - 9.8 miles Audubon Zoo - 33 miles Abita Brewery - 6 miles Castine Center - 8 miles City Center - 8 miles Downtown Historical Covington - 1.5 miles Tulane University Research Center - 6.4 miles Aquarium of the Americas - 34 - miles Location Highlights: 1. Downtown Covington: The hotel is near downtown Covington (4 miles), which offers a range of restaurants, boutiques, and art galleries to explore. It is known for its quaint and historic feel. 2. Bogue Falaya Park: This park is a popular spot for picnics and relaxation, situated along the Bogue Falaya River (4.3 miles). It's a lovely place for a stroll and has a playground for children. 3. Abita Springs: Just a short drive away, the town of Abita Springs (5.4 miles) is famous for the Abita Brewery. The guest can take a tour of the brewery and sample local beers. 4. Northlake Nature Center: This nature center is nearby and provides hiking trails, wildlife viewing, and a chance to explore the local wetlands and ecosystems. 5. Mandeville Lakefront: Located just across the lake from Covington, Mandeville offers a scenic lakefront area with walking paths, a harbor, and beautiful views of Lake Pontchartrain. 6. Abita Mystery House: Also known as the UCM Museum (5.5 miles), this quirky and eclectic museum in Abita Springs is filled with bizarre and unusual artifacts. 7. Tchefuncte River: The Tchefuncte River (14.3 miles) is a great spot for boating, fishing, and water recreation, and it's not far from Covington. 8. Fontainebleau State Park: This state park, located on the shores of Lake Pontchartrain (16.7 miles), offers hiking trails, a beach, and a historic sugar mill. 9. St. Tammany Trace: This 31-mile-long trail for walking, running, and cycling is built on a former railway line and passes through Covington, offering outdoor recreational opportunities. Covington, Louisiana, is experiencing significant growth, with a number of new developments that could drive hotel sales. Economic and Industrial Development Laborde Products: This diesel engine distributor is expanding its operations by establishing a new $5.8 million center at its headquarters in Covington. This project, announced in October 2024, is part of a larger trend of industrial growth in the area. Wainer Companies Developments: Wainer Companies is actively developing a large corridor in St. Tammany Parish. Their projects include: -Nord du Lac West: This 200-acre development is located in a fast-growing corridor and is already home to a Costco and a Mercedes-Benz dealership. -Vieux Carre: A new 200-acre mixed-use development planned for Bootlegger Road. It will feature commercial spaces with prime road frontage and a residential subdivision with various lot sizes and green spaces. Pelican Energy: The company is expanding and relocating its office to a new building in Covington, a move that could bring more business visitors to the area. New Indoor Training Facility: A new premier indoor training facility is planned for Covington, which will likely attract athletes, teams, and families for various sporting events and camps, increasing the need for local accommodations. Residential and Commercial Development New Construction Homes: There is a significant increase in new home construction across Covington, with new subdivisions and individual homes being built. Companies like DSLD Homes are building communities such as Alexander Ridge. This residential growth contributes to the overall population and economic activity of the city. Covington Commons: This is a large-scale commercial site development project. While specific tenants and timelines are not yet publicly detailed, the development is located on SE 276th Street and is expected to attract new businesses and retail options to the area. "Family-Focused Venues" at Former Rouses Market: The redevelopment of a former Rouses Market next to Home Depot at 50 Park Place is nearing completion. This project aims to bring new, family-oriented venues to the area, which could attract leisure travelers and families. Infrastructure and Community Projects Road Construction and Resurfacing: The City of Covington and the Louisiana Department of Transportation and Development (DOTD) have ongoing infrastructure projects. A recent $1.1 million resurfacing project on US 190B (W. 21st Ave.) improved a key roadway near the hotel, and other projects, such as the Downtown Overlays Phase 1, are focused on drainage and street improvements. These projects, while causing temporary delays, improve accessibility and the overall quality of the city's infrastructure. Please Do Not Call The Hotel or Hotel Employees about the Sale of the Hotel. Absentee Owner.

FOR SALE DETAILS

PRICE

$7,000,000 USD

PRICE/SF

$220 USD /SF

# OF ROOMS

72

PRICE/ROOM

$97,222 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hampton by Hilton Inn Covington

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2001

PARKING SPACES

65

LAND DETAILS

LAND ACRES

1.6 AC

LAND SF

69,696 SF

ZONING

C

APN/PARCEL ID

30517

ASK ABOUT THIS PROPERTY

Raiyan RabNumarix Real Estate ServicesMore Info
404-398-2090

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Raiyan RabNumarix Real Estate ServicesMore Info
404-398-2090

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.