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    Luxury Condominium Portfolio, French Quarter Title is generated by Realmo AI

    818 BOURBON Street, New Orleans, LA 70112

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    Claim this Listing
    New
    For Sale
    $3,500,000

    COMMERCIAL - New Orleans, LA

    Property size:
    6,214 SF
    Price / SF:
    $563/SF
    Added:
    May 19, 2026
    Days on Market:
    2
    Last Refresh:
    May 20 at 3:06 am

    Property Features for 818 BOURBON Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    VCR-1
    Standard status
    Active
    APN
    58
    Size
    6,214 SF

    Taxes and HOA fees

    Tax Description
    1. SQ 58 LOT 18 BOURBON ST 2. 32X127 3. 818 BOURBON ST

    Utilities

    Water source
    Public

    Building Details

    Year built
    1837
    Floors in Building
    3

    We can help!

    Listing Contact
    Whitney Harrel

    Listing agent Whitney Harrel

    Listing office Homesmart Realty South 3131 N I-10 Service Rd, #101, New Orleans, LA

    Listing date May 19, 2026

    MLS# 2558840

    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.

    HighLights

    • Newly renovated luxury condominium portfolio in the heart of the French Quarter.
    • Strong in‑place rental income, currently generating more than $17,000 per month.
    • Signature Unit 2A features a coveted second‑floor Bourbon Street balcony.
    • Diverse mix of floorplans including multi‑bedroom residences and private courtyard‑facing units.
    • In‑unit washer/dryers and contemporary kitchens with stainless appliances.
    • Flexible condominium structure allows for individual unit sales, long‑term holds, or a hybrid investment strategy.

    Overview

    Located on Bourbon Street in the French Quarter of New Orleans, the property features 8 individually structured condominium residences with modern contemporary interiors. The units include updated kitchens and baths, and in-unit washer and dryers. A new slate roof has been installed. The property offers a mix of floorplans, including multi-bedroom residences and courtyard-facing units. Unit 2A features a second-floor Bourbon Street balcony. The property has preserved historic character and practical luxury upgrades. The condominium structure allows for individual unit sales, long-term holds, or a hybrid investment strategy. Recent improvements include approximately $1M in renovations and repositioning, including the addition of multiple bathrooms, upgraded systems, modernized interiors, and establishment of a formal condominium regime. Property features include a shared French Quarter courtyard, contemporary kitchens with stainless appliances, and luxury marble-style bath finishes. The property is currently generating more than $17,000 per month in rental income. The property contains 8 legal condominium units. The property size is 6214 square feet. The property is zoned VCR-1.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Daycare Center Gym & Fitness Center Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.0644986
    Latitude
    29.9597879

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    FAQs

    What type of property is this?
    Apartment building - Newly renovated luxury condominium portfolio in the heart of the French Quarter.
    Where is this apartment building located?
    The property is located at 818 BOURBON Street New Orleans, LA.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: Newly renovated luxury condominium portfolio in the heart of the French Quarter.; Strong in‑place rental income, currently generating more than $17,000 per month.; Signature Unit 2A features a coveted second‑floor Bourbon Street balcony.
    (504) 908-5037
    We can help!
    Listing Contact
    Whitney Harrel
    Learn More
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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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