Sign Up Successful!
You now have access to more from Realmo!
    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

    27720 Ivy Springs Dr Independence, LA 70443

    Sponsored
    For Sale
    Contact for pricing

    Vacant Land - Independence, LA

    Property size:
    23,096 SF
    Lot size:
    0.52 Acres
    Days on Market:
    146
    Last Refresh:
    Jan 31 at 12:06 pm

    Property Features for 27720 Ivy Springs Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Res
    Size
    23,096 SF
    Lot size
    0.52 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    MaryJo Hoover

    Keller Williams Realty Services (985) 727-7000

    Listing agent MaryJo Hoover (985) 727-7000

    Listing date Sep 8, 2025

    MLS# 2485225 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

    Residential Lot in Albany School

    This 0.52-acre residential lot is located in Independence, LA, within the Albany School District. The property features a mostly cleared landscape, facilitating ease of construction. Located in a well-maintained neighborhood, the lot is suitable for building a home or investing in land. The property is situated minutes away from local amenities, schools, and major roadways. The lot size is 23096 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Building Supply Kitchen & Bath Nursing Home Assisted Living Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Independence
    County
    State
    Louisiana
    Longitude
    -90.622992
    Latitude
    30.649141

    Nearby Similar for Sale

    • $315,000
      5,852 SF

      Versatile Mixed-Use Investment Opportunity

      Mixed-use property with retail and residential potential in Independence, LA.
      497 West Railroad Ave, Independence, LA 70443
      View Details
    • $200,000
      2,450 SF

      Independence LA Duplex For Sale

      Duplex with two 3-bedroom units in Independence, Louisiana.
      569 W 5Th St, Independence, LA 70443
      View Details
    • $149,900
      2,240 SF

      Prime Commercial Building, Independence LA

      Versatile Commercial Space w/ Rental Income
      305 4Th St, Independence, LA 70443
      View Details
    • $1,200,000
      8,800 SF

      Independence Warehouse - Cold Storage Opportunity

      8,800 SF Warehouse, Cold & Freezer Space, Great Yard
      142 Tortorice Ln, Independence, LA 70443
      View Details

    FAQs

    What type of property is this?
    Land - 0.52-acre residential lot in Independence, LA, Albany School District.
    Where is this land located?
    The property is located at 27720 Ivy Springs Dr Independence, LA.
    What is the asking price?
    The asking price for this property is $25,000.
    What are key features of this property?
    This property features: - Located in the highly sought-after Albany School District.; - Expansive 0.52-acre residential lot, providing ample space for building.; - Mostly cleared landscape, simplifying the building process.
    (985) 727-7000
    Request Owner's contact information
    27720 Ivy Springs Dr Independence, LA 70443
    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.
    27720 Ivy Springs Dr
    Independence, LA 70443
    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
    27720 Ivy Springs Dr Independence, LA 70443
    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
    MaryJo Hoover
    (985) 727-7000
    Learn more
    Google sign-in failed. Please try again or use another login method.