Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    229 Royal St New Orleans, LA 70130-2226
    Back to Search
    Property profile & analytics

    229 Royal St, New Orleans, LA 70130-2226

    View on Map
    • Investment properties
    • 13,779 SF
    • 0.08 lot acres
    Off-Market
    Last Sale Jan 16, 2025
    $150
    Property ID
    US36-0701644
    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.
    Value Estimations
    $1,595,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 229 Royal St

    Year built
    1850
    Lot size
    0.08 lot acres
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    206102906
    APU
    206102906

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 16, 2025 $150 229 Royal Street Trust 229 Royal Street LLC Deed $1.4M · Citizens Bank Of Philadelphia
    Jan 14, 2020 — 229 Royal Street LLC — Deed · related —
    May 29, 2013 $2,100,000 229 Royal Street LLC Early,dolores D Grant Deed $1.7M · Iberiabank
    — — 229 Royal Street LLC — Deed Of Trust · related —

    Description

    This exceptional French Quarter investment presents a unique redevelopment opportunity. Located at 229 Royal Street, this four-story, 12,658 square foot building offers a blank canvas for a discerning developer or end-user. Currently gutted to shell condition, the property is ready for immediate customization. Its prime location in the highly sought-after 200 block of Royal Street, directly across from the Hotel Monteleone, ensures high visibility and accessibility. The building, constructed in 1856, sits on a 0.08-acre lot and is zoned VCC-2. A small, secluded courtyard at the rear of the building adds to its appeal. The asking price is $2,650,000, translating to $209.35 per square foot. Given its historic nature, the property may qualify for state and federal historic renovation tax credits, presenting significant financial advantages for the right project. This is a rare chance to acquire a substantial property in one of New Orleans' most iconic and desirable locations, ripe for transformation into a thriving commercial or mixed-use space. The multi-tenant potential allows for diverse income streams. The property's existing structure provides a solid foundation for a variety of development plans. This is a truly exceptional opportunity to create a landmark property in the heart of the French Quarter.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $2,605,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.068
    Latitude
    29.9548
    CBSA code
    35380
    CBSA name
    NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $24,200
    $170,000
    $194,200
    -
    $242,000
    $1,360,000
    $1,602,000

    Comparable in this City

    • Value Estimation by Request
      1.46 Acres

      730 Julia St

      OFFICE/RESIDENTIAL (MIXED USE)
      730 Julia St, New Orleans, LA 70130-3794
      View Details
    • Value Estimation
      $520,000
      5,760 SF

      1118 Josephine St

      OFFICE/RESIDENTIAL (MIXED USE)
      1118 Josephine St, New Orleans, LA 70130-5012
      View Details
    • Value Estimation
      $550,000
      4,562 SF

      614 Julia St

      OFFICE/RESIDENTIAL (MIXED USE)
      614 Julia St, New Orleans, LA 70130-3710
      View Details
    • Value Estimation
      $1,675,000
      13,880 SF

      441 Decatur St

      OFFICE/RESIDENTIAL (MIXED USE)
      441 Decatur St, New Orleans, LA 70130
      View Details
    • Value Estimation by Request
      1,660 SF

      2372 Constance St

      OFFICE/RESIDENTIAL (MIXED USE)
      2372 Constance St, New Orleans, LA 70130-5502
      View Details
    • Value Estimation by Request
      3,200 SF

      508 Conti St

      OFFICE/RESIDENTIAL (MIXED USE)
      508 Conti St, New Orleans, LA 70130-2233
      View Details

    Similar Nearby for Sale

    • $495,000
      1,817 SF

      Historic Cottage with Mixed-Use Zoning

      Historic cottage near CBD with mixed-use zoning and parking.
      1630 Robert C. Blakes Sr Dr, New Orleans, LA 70130
      View Details
    • $1,700,000

      New Orleans Mixed-Use Asset

      Newly constructed mixed-use property in the Lower Garden District.
      1310 Constance St, New Orleans, LA 70130
      View Details
    • Contact for pricing
      3,300 SF

      French Quarter Mixed-Use Building

      Three-story building with retail and apartments in prime location.
      228 Chartres St, New Orleans, LA 70130
      View Details
    • $899,000
      3,557 SF

      Mixed-Use Property on St. Charles

      Mixed-use property with commercial space and residential units.
      1216-18 Saint Charles Ave, New Orleans, LA 70130
      View Details
    • $2,750,000
      13,622 SF

      Historic Mixed-Use Building, New Orleans

      Historic 1844 building in the Warehouse District with mixed-use potential.
      717 Camp St, New Orleans, LA 70130
      View Details
    • $1,750,000

      New Orleans Mixed-Use Building

      Newly constructed, fully occupied mixed-use property in central location.
      1235 St Thomas, New Orleans, LA 70130
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Versatile Mixed-Use Space in Silvertown

      29,000 SF mixed-use space in New Orleans' Warehouse District.
      740 Carondelet St, New Orleans, LA 70130
      View Details
    • Contact for pricing
      1,782 SF

      Mixed-Use Building Office Space

      Office spaces available in a mixed-use building.
      200-541 Julia St, New Orleans, LA 70130
      View Details
    • Contact for pricing

      Single Tenant Office Space

      Office space available for single tenant occupancy.
      923 Tchoupitoulas St, New Orleans, LA 70130
      View Details
    • Contact for pricing

      Corner Lot in Irish Channel

      Highly visible corner lot for rent in New Orleans.
      400 Jackson Ave, New Orleans, LA 70130
      View Details
    • $17 SF/Yr
      6,351 SF

      Furnished Office Sublease in CBD

      Prime office space in One Canal Place available for sublease.
      365 Canal St, New Orleans, LA 70130
      View Details
    • $2,950 /Mo
      1,200 SF

      Retail Space in New Orleans

      Retail space available for rent in Orleans Parish.
      1501 Prytania St, New Orleans, LA 70130
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    229 Royal St
    New Orleans, LA 70130-2226
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    229 Royal St, New Orleans, LA, 70130
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!