Historic Mixed-Use Redevelopment
For Sale
Contact for pricing
1000 N Rampart St, New Orleans, LA 70116
Historic corner property near French Quarter with redevelopment potential.
Property Size10,000 SF
Price / SF$199.90
Days on Market170
Property Features for 1000 N Rampart St
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Mixed Use, Retail
Listing Agency:
Talbot Realty Group
(504) 525-9763
Listed By:
Chris Talbot · License #LA 0000075986
Source:
Crexi
Added: Feb 23
Changed: Aug 8
Last Checked: Aug 12 at 4:40AM
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 Talbot Realty Group
Investment Insights
Based on property information with market context.
This historic mixed-use redevelopment opportunity is located along the North Rampart Street corridor at the intersection of Rampart Street and St. Philip Street, situated at the edge of the French Quarter and Tremé. Constructed circa 1870, the property features an approximately 7,615 square foot historic corner structure with dual frontage and off-street parking. The building retains significant historic fabric, including masonry bearing walls, heavy timber framing, and full-length wrought-iron galleries overlooking Rampart Street. Based on existing floor plans, the property contains approximately 10,000 square feet of estimated rentable area. The seller estimates a total usable area of approximately 11,581 square feet, inclusive of conditioned interior space plus partial allocation of gallery and balcony areas. Buyer to verify all square footage. The building is vacant and partially improved, offering a clear redevelopment framework. A full-height third-level attic provides meaningful expansion potential. The property has received State and Federal Historic Tax Credit Part 1 approvals and is zoned VCC-2, allowing a broad range of commercial, residential, and mixed-use configurations. The property is offered as-is.
Key Highlights
- Prime location at the edge of the French Quarter and Tremé on the North Rampart Street corridor.
- Significant historic fabric and architectural details, including masonry bearing walls and wrought‑iron galleries.
- Approved for State and Federal Historic Tax Credits.
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
$135,000
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
6.75%
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%
$2,700,000
$2.7M
Cap Rate 7%
$1,928,571
$1.9M
Cap Rate 9%
$1,500,000
$1.5M
Market Conditions
NOI Build-Up for 10,000 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
$240.0K $24.00/SF
− Vacancy
−$24.0K −$2.40/SF
EGI
$216.0K $21.60/SF
− OpEx
−$81.0K −$8.10/SF
NOI
$135.0K $13.50/SF
Area
New Orleans, LA
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,700,000
Cap Rate 7%
$1,928,571
Cap Rate 9%
$1,500,000
Alternative Uses
Best Use
Mixed Use
$1.93M
$1.69M – $2.25M
NOI $135,000 @ 7.0% cap · market cap 6.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.54M
$2.22M – $2.97M
NOI $177,917 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,536
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic corner property near French Quarter with redevelopment potential.
Where is this mixed-use property located?
The property is located at 1000 N Rampart St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Prime location at the edge of the French Quarter and Tremé on the North Rampart Street corridor.; Significant historic fabric and architectural details, including masonry bearing walls and wrought‑iron galleries.; Approved for State and Federal Historic Tax Credits.
