Four-Story Office Building with
For Sale
$1,995,000
416 GRAVIER Street, New Orleans, LA 70130
Four-story office building with a rear courtyard, positioned in the Picayune Place Historic District.
Property Size15,939 SF
Price / SF$125.16
Days on Market433
Property Features for 416 GRAVIER Street
General Information
Standard status
Active
Size
15,939 SF
Property subtype
General Commercial
Amenities
rear courtyard
3
66X70/75
Building Details
Year Built
1960
Stories
4
Listing Agency:
Studio LACO LLC
(303) 956-5620
Listed By:
Laura Amann
(303) 956-5620
Source:
Xome
Added: Jun 18, 2025
Changed: Aug 12
Last Checked: Aug 23 at 2:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Studio LACO LLC
Investment Insights
Based on property information with market context.
This four-story office building was used for many years as a law firm and includes a rear courtyard. The property presents a redevelopment opportunity within the Picayune Place Historic District.
Located at 416 Gravier Street in New Orleans, the building offers proximity to the Windsor Court Hotel, Caesars Casino, the French Quarter, and the Ernest N. Morial Convention Center.
According to the provided remarks, the highest and best uses are described as a boutique hotel or a residential conversion.
Located at 416 Gravier Street in New Orleans, the building offers proximity to the Windsor Court Hotel, Caesars Casino, the French Quarter, and the Ernest N. Morial Convention Center.
According to the provided remarks, the highest and best uses are described as a boutique hotel or a residential conversion.
Key Highlights
- Four‑story office building with a rear courtyard
- Located in the Picayune Place Historic District
- Zoned CBD2
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,963
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,199,260
$1.2M
Cap Rate 7%
$856,614
$856.6K
Cap Rate 9%
$666,256
$666.3K
Market Conditions
NOI Build-Up for 15,939 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$229.5K $14.40/SF
− Vacancy
−$103.3K −$6.48/SF
EGI
$126.2K $7.92/SF
− OpEx
−$66.3K −$4.16/SF
NOI
$60.0K $3.76/SF
Area
New Orleans, LA
Vacancy
45.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,199,260
Cap Rate 7%
$856,614
Cap Rate 9%
$666,256
Alternative Uses
Best Use
Office B
$3.36M
$2.94M – $3.92M
NOI $234,944 @ 7.0% cap · market cap 11.78%
Second Best
Hotel Hospitality
$856.6K
$749.5K – $999.4K
NOI $59,963 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$4.05M
$3.54M – $4.73M
NOI $283,582 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9,866
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
Market
Vacancy Rate% for Office in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Four-story office building with a rear courtyard, positioned in the Picayune Place Historic District.
Where is this office building located?
The property is located at 416 GRAVIER Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Four‑story office building with a rear courtyard; Located in the Picayune Place Historic District; Zoned CBD2
