Property profile & analytics
8816 Spruce St New Orleans, LA 70118
- Commercial real estate
For Sale
View listing
$599,000
Value Estimation
Location Intelligence
Property ID
US36-0065041
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Current Use by Public Records
- Commercial real estate
Property Details for 8816 Spruce St
- Property type
- Commercial real estate
Description
This exceptional 6-unit multifamily property, located at 8816 Spruce St, New Orleans, LA 70118, presents a compelling investment opportunity. The property consists of two buildings – a four-plex and a duplex – each with its own tax parcel, facilitating favorable residential 1-4 financing. Currently boasting 100% occupancy and a strong NOI of $55,822, this Class B apartment building offers a 9.32% cap rate. All six units are separately metered for water and electricity, minimizing operational costs and maximizing tenant responsibility. Situated in the rapidly developing Leonidas/Carrollton neighborhood, close to Carrollton and Claiborne Avenues, the property benefits from its prime location. Significant rental upside potential exists
Value Estimation
Powered by Realmo proprietary methodology
Last update: July 3, 2025
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Orleans Parish
- State
- Louisiana
- Longitude
- -90.129924181725
- Latitude
- 29.958007219018
