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
1/14
null | 8.65% Cap Rate

68700 Highway 190 Service Rd
Covington, LA 70433


HIGHLIGHTS

  • Minimal PIP - cosmetic ~2.7k/Key
  • Attractive 8.5%+ Cap Rate
  • Nearly 35% Bottom Line NOI
  • Newly Renovated in 2026
  • Nearly $120 ADR | Cash Flowing Asset from Day One
  • Dual-Corridor Location in the Affluent, High-Growth Northshore Market

OVERVIEW

***Please note the NOI is HIGHER than the auto calculated NOI above: Actual NOI is $676,365*** Hotel Brokers of America and NUMARIX are pleased to present the newly renovated (in 2026) Hampton Inn by Hilton Covington, a 72-key, select-service hotel strategically positioned along the highly traveled U.S. Highway 190 and Interstate 12 corridor in Louisiana's thriving Northshore market. Located less than an hour from downtown New Orleans, the property sits at the center of one of the state's fastest-growing and most affluent regions, benefiting from a powerful mix of corporate, healthcare, government, contractor, and leisure demand. Why Investors Will Love This Property • Stabilized, Branded Cash Flow - The buyer steps into a proven, performing Hampton operation on day one • Double-Digit Levered Returns - A 17.45% net cash-on-cash return on in-place performance. • Light, Defined PIP - A modest, cosmetic $200,000 (~$2,778/key) PIP • Top-Tier Demographics - St. Tammany Parish pairs some of the highest household incomes in Louisiana with sustained population and employment growth — a structurally expanding, high-quality lodging demand pool. • Attractive Basis - At $100,000 per key on a total project cost basis, the acquisition sits well below the replacement cost of new upper-midscale construction in the Greater New Orleans market • Brand & Loyalty Tailwind - Hampton by Hilton drives a high-quality, rate-resilient transient and corporate base through Hilton’s reservation engine and 200M+ member Hilton Honors loyalty program. • Owner-Operator Upside

FOR SALE DETAILS

PRICE

$7,000,000 USD

PRICE/SF

$140 USD /SF

# OF ROOMS

72

PRICE/ROOM

$97,222 {currency}

CAP RATE

8.65%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hampton by Hilton Inn Covington

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2001

PARKING SPACES

77

LAND DETAILS

LAND ACRES

1.6 AC

LAND SF

69,696 SF

ZONING

C

APN/PARCEL ID

30517

ASK ABOUT THIS PROPERTY

Raiyan RabNUMARIXMore Info
404-398-2090

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Raiyan RabNUMARIXMore Info
404-398-2090

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