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    Renovated Multifamily Property in CBD Title is generated by Realmo AI

    431 Gravier St, New Orleans, LA 70130

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    Luxuriously renovated four-unit property in a prime CBD location.

    Type:Multifamily
    Property size:
    7,990 SF
    Price / SF:
    $400/SF
    Added:
    Jan 23, 2026
    Days on Market:
    120
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 431 Gravier St

    General Information

    Standard status
    Active
    Size
    7,990 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1880

    We can help!

    Listing Contact
    Jeff Breland

    Listing agent Jeff Breland License #53741

    Listing office Century 21 Investment Realty Slidell

    Listing date Jan 23, 2026

    Source Crexi

    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 Century 21 Investment Realty Slidell

    HighLights

    • Phenomenal CBD location: walk to Canal St., French Quarter, Harrah's Casino, Poydras, and Warehouse District.
    • Beautifully renovated 4 units with upscale luxurious finishes.
    • Great investment opportunity: potential for investors, owner/occupants, corporate housing, satellite hotel, or condo conversion.
    • High rental income potential: $3,700/month unfurnished or $4,000/month furnished per unit.
    • Open concept floor plans with large bedrooms, lavish bathrooms, and large closets.
    • Elevator access to 2nd, 3rd, and 4th floors.

    Overview

    Located at the foot of the river in the Central Business District, this renovated four-unit multifamily property sits between Magazine and Tchoupitoulas on Gravier Street. It is one block from Canal Street, the French Quarter, and Harrah's Casino, and two blocks from Poydras and the Warehouse District. The property features upscale, luxurious finishes in all units, making it suitable for investors, owner-occupants, corporate housing, a satellite hotel, or condo conversion. The units have open-concept floor plans with high-end finishes, large bedrooms, lavish bathrooms, and large closets. An elevator provides access to the 2nd, 3rd, and 4th floors, and a side/rear staircase entrance is also available. The units rent for $3,700 per month unfurnished or $4,000 per month furnished. The property is zoned CBD-2 and has a size of 7990 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.067276
    Latitude
    29.9504443

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    FAQs

    What type of property is this?
    Quadplex - Luxuriously renovated four-unit property in a prime CBD location.
    Where is this quadplex located?
    The property is located at 431 Gravier St New Orleans, LA.
    What is the asking price?
    The asking price for this property is $3,200,000.
    What are key features of this property?
    This property features: Phenomenal CBD location: walk to Canal St., French Quarter, Harrah's Casino, Poydras, and Warehouse District.; Beautifully renovated 4 units with upscale luxurious finishes.; Great investment opportunity: potential for investors, owner/occupants, corporate housing, satellite hotel, or condo conversion.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jeff Breland
    Real Estate License ID: 53741
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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.

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