Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1214 N Spell St Covington, LA 70433

    Sponsored
    For Sale
    $39,900

    Vacant Land - Covington, LA

    Lot size:
    0.17 Acres
    Days on Market:
    20
    Last Refresh:
    Feb 28 at 7:06 pm

    Property Features for 1214 N Spell St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Res
    Lot size
    0.17 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Anna Lacoste

    Barden Realty (985) 237-1830

    Listing agent Anna Lacoste (985) 237-1830

    Listing date Feb 9, 2026

    MLS# 2526000 Listing URL

    Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Corner Lot Near Downtown Covington

    This cleared corner lot is located less than a mile from historic downtown Covington. Zoned for residential use, the 0.17-acre lot on N Spell and W Edwards is suitable for a home or investment property. The location offers proximity to local shops, restaurants, and parks.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Law Firm Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    St. Tammany
    State
    Louisiana
    Longitude
    -90.096756
    Latitude
    30.488066

    Nearby Similar for Sale

    • $1,750,000
      8,289 SF

      Upscale Class A Office Building

      Class A office building in prime Covington location for sale.
      200 Caroline Ct, Covington, LA 70433
      View Details
    • $670,000
      6,000 SF

      Tenant Occupied Office Building

      Tenant occupied office building with lease in place through 2028.
      20081 None, Covington, LA 70433
      View Details
    • $830,000
      4,249 SF

      Residential Compound with Rental Income

      Spacious home with guest house and stocked pond.
      23375 Lowe Davis Rd, Covington, LA 70435
      View Details
    • $2,950,000
      7,739 SF

      Retail Property on Pinnacle Parkway

      Retail property available for sale in Covington, Louisiana.
      Pinnacle Pkwy, Covington, LA 70433
      View Details
    • $450,000

      Covington Vacant Land For Sale

      Vacant commercial land in prime Covington location, zoned NC-4.
      W 15Th Ave, Covington, LA 70433
      View Details
    • Contact for pricing

      Mixed-Use Retail & Office Development

      Exceptional commercial property with versatile space for various businesses.
      71178 Louisiana 21, Covington, LA 70433
      View Details
    • Contact for pricing
      7,500 SF

      Freestanding Dollar General in Abita Springs

      Single tenant Dollar General with minimal landlord responsibilities.
      21458 Highway 36, Covington, LA 70433
      View Details
    • Contact for pricing

      Operating Restaurant Real Estate Opportunity

      Operating restaurant for sale, suitable for continued or new use.
      629 Us 190, Covington, LA
      View Details
    • $495,000
      2,161 SF

      Covington Commercial Building - Prime Location

      Renovated Commercial Space, High Traffic Area
      516 Tyler St, Covington, LA 70433
      View Details
    • $425,000
      2,880 SF

      Covington Duplex Office Space

      High-Visibility Commercial Property, Hwy 190
      857 Collins Blvd, Covington, LA 70433
      View Details
    • $1,350,000
      8,880 SF

      Covington Commercial Property Investment

      Two income-producing buildings & parking lot.
      810-816 Columbia St, Covington, LA 70433
      View Details
    • $1,700,000
      9,074 SF

      Covington Commercial Building - High Traffic!

      Turn-key restaurant, high traffic, 1.7 acres.
      1957 Collins Blvd, Covington, LA 70433
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Cleared corner lot near historic downtown Covington, Louisiana.
    Where is this residential land & home lot located?
    The property is located at 1214 N Spell St Covington, LA.
    What is the asking price?
    The asking price for this property is $39,900.
    What are key features of this property?
    This property features: - Prime corner lot location, ideal for your dream home.; - Zoned for residential use.; - Less than a mile from historic downtown Covington.
    (985) 273-4024
    Request Owner's contact information
    1214 N Spell St Covington, LA 70433
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1214 N Spell St
    Covington, LA 70433
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1214 N Spell St Covington, LA 70433
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Anna Lacoste
    (985) 273-4024 (985) 237-1830
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!