CAVA | New 10-Year Corporate Lease 401 N Highway 190 2,573 SF Retail Building Covington, LA 70433 $2,998,104 ($1,165.22/SF) 5.75% Cap Rate

The subject property is a brand-new 2025 construction freestanding CAVA located in Covington, LA (New Orleans MSA). The ten (10) year NNN lease is corporately guaranteed by CAVA Group, Inc. (NYSE: CAVA) and features 10% rental increases every five years during the primary term and in each of the (4) five-year option periods. This investment offers passive, long-term income backed by one of the fastest-growing fast-casual restaurant brands in the United States.
This CAVA is strategically positioned along US Highway 190, just off the I-12 interchange, in a dense and highly trafficked retail corridor with visibility to over 76,000 vehicles per day. Located just west of Downtown Covington and approximately 35 miles north of New Orleans, the property benefits from strong regional connectivity and proximity to major demand drivers. The area features a robust demographic profile, with over 90,000 residents and an average household income exceeding $109,000 within a 5-mile radius. The site benefits from exceptional retail synergy, drawing from high daily traffic and neighboring national brands that help drive consistent footfall.
Major employers in the Covington and St. Tammany Parish area include Globalstar, Zen-Noh Grain Corporation, POOLCORP, St. Tammany Health System / St. Tammany Parish Hospital, and Chevron’s regional office that together, employ over 10,000 employees. Other national retailers in the immediate vicinity include Walmart, Lowe’s, Home Depot, ALDI, Office Depot, Planet Fitness, Starbucks, Chick-fil-A, Chipotle, IHOP, Outback Steakhouse, Raising Cane’s, Smalls Sliders, Burger King, Taco Bell, Wendy’s, Smoothie King, Firehouse Subs, Waffle House, Jimmy John’s, Dunkin’, Arby’s, Popeyes, Circle K, Racetrac, Exxon, Fidelity Bank, Liberty Bank, Old Navy, Sport Clips, CVS Pharmacy, Urban Air, McDonald’s, Bath & Body Works, Chipotle, Victoria’s Secret, Sherwin-Williams, Whole Foods, Banana Republic, and AutoZone. This is a strong opportunity to acquire a well-located asset in a growing Louisiana market.