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    The Largest CRE Database in the US with Over 1 Million Listings

    823 Royal St New Orleans, LA 70116

    Sponsored
    For Sale
    $1,795,000

    CreoleTownhouse, 4 Plex - New Orleans, LA

    Property size:
    3,929 SF
    Days on Market:
    18
    Last Refresh:
    Jan 31 at 12:06 pm

    Property Features for 823 Royal St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Laundry
    Patio and Porch features
    Patio, Porch
    EntryLevel
    1
    Exterior features
    Balcony, Courtyard, Fence, Outdoor Entertainment Area Beyond Your Average Patio, Porch
    Fencing
    Fenced
    Size
    3,929 SF

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1831
    Floors in Building
    3
    Number of units
    4
    Building materials
    Brick
    Roof type
    Slate
    Architectural style
    Creole, Creole

    We can help!

    Listing Contact
    Chris Smith
    Chris Smith

    HODC LLC dba Keller Williams Realty New Orleans (504) 862-0100

    Listing agent Chris Smith (504) 862-0100

    Listing date Jan 14, 2026

    MLS# 2529271 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

    French Quarter Royal Street Masterpiece

    This legacy property is located in the heart of New Orleans' French Quarter on Royal Street, 1.5 blocks from Jackson Square. The site stretches 160' deep, a rarity for the French Quarter. The property's chain of title dates back to 1722 and was once restored by artist Alberta Kinsey. The ground floor features a long-standing commercial gallery occupied by a local artist with over a decade of tenancy. The second-floor unit serves as the owner's residence, with French doors opening onto a balcony overlooking Royal Street. The interior includes an open living and dining space, a full kitchen, and a rear terrace overlooking a brick courtyard. The third-floor unit features 14' tall vaulted ceilings, skylights, an expansive living and dining area, an oversized bedroom, and a sleeping loft. A detached two-story carriage house includes a den with French doors opening onto a patio, grounds, and gardens, plus an updated eat-in kitchen on the first level, and two bedrooms with one and one-half baths. This residence includes its own secluded courtyard. The property includes four separate meters and two courtyards. It features three residential residences and a commercial tenant. The property size is 3929 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    M.SANI STUDIO Art Gallery

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Food Market Daycare Center Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.0636633
    Latitude
    29.9593443

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    FAQs

    What type of property is this?
    Quadplex - Legacy property in the heart of New Orleans' French Quarter.
    Where is this quadplex located?
    The property is located at 823 Royal St New Orleans, LA.
    What is the asking price?
    The asking price for this property is $1,795,000.
    What are key features of this property?
    This property features: - Prime Royal Street Location: Situated on the most iconic street in the French Quarter, just 1.5 blocks from Jackson Square.; - Rare 160' Deep Lot: An exceptionally large and private lot for the French Quarter.; - Features three residential units and a long-standing commercial gallery.
    (504) 231-2004
    Request Owner's contact information
    823 Royal St New Orleans, LA 70116
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    New Orleans, LA 70116
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    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
    823 Royal St New Orleans, LA 70116
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    We can help!
    Listing Contact
    Chris Smith
    Chris Smith
    Real Estate License ID: 000009641
    (504) 231-2004
    Learn more
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