Historic Mixed-Use Redevelopment
For Sale
$1,999,000
1000 N Rampart N RAMPART Street, New Orleans, LA 70116
Historic corner building with partially completed interiors, frontage on North Rampart and St. Philip, and historic tax credit approvals.
Property Size11,581 SF
Days on Market156
Property Features for 1000 N Rampart N RAMPART Street
General Information
Standard status
Active
Size
11,581 SF
Building Details
Building Size
11,581 SF
Year Built
1870
Listing Agency:
Talbot Realty Group
(504) 319-1452
Listed By:
Christopher Talbot · License #000075986
(504) 319-1452
Source:
Talbot-realty
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 12 at 3:12AM
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 property features an approximately 7,615 SF historic structure originally constructed circa 1870. The building retains substantial historic fabric, including masonry bearing walls, heavy timber framing, original galleries, and full-length second-floor ironwork overlooking Rampart Street. Existing floor plans indicate approximately 10,000 SF of estimated rentable area, while the seller also estimates approximately 11,581 SF of total usable area, including conditioned interior space and a 50% allocation of gallery and balcony areas. Interior improvements are partially completed, providing flexibility for final build-out. A full-height third-level attic spans the structure and offers the opportunity to add conditioned space, mezzanine areas, or loft-style programming, subject to applicable approvals. The property is offered as-is and also noted as a candidate for assumable debt and creative financing.
The site is a corner lot with frontage along North Rampart Street and St. Philip Street, positioned along the North Rampart Street corridor at the edge of the French Quarter and Treme.
Zoned VCC-2 (Vieux Carre9 Commercial District), the property allows a broad range of commercial, residential, and mixed-use configurations, subject to applicable approvals. Historic tax credit Part 1 approvals from State and Federal programs have been received, confirming contributing historic status and rehabilitation tax credit eligibility, subject to completing the remaining requirements.
The site is a corner lot with frontage along North Rampart Street and St. Philip Street, positioned along the North Rampart Street corridor at the edge of the French Quarter and Treme.
Zoned VCC-2 (Vieux Carre9 Commercial District), the property allows a broad range of commercial, residential, and mixed-use configurations, subject to applicable approvals. Historic tax credit Part 1 approvals from State and Federal programs have been received, confirming contributing historic status and rehabilitation tax credit eligibility, subject to completing the remaining requirements.
Key Highlights
- Historic mixed‑use building built circa 1870 on a corner lot with frontage on North Rampart St. and St. Philip St.
- Approximately 7,615 SF building with an estimated 10,000 SF rentable area and an estimated 11,581 SF total usable area (per seller).
- Retains historic features including masonry bearing walls, heavy timber framing, original galleries, and second‑floor ironwork overlooking Rampart St.
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
$156,344
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
7.82%
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%
$3,126,880
$3.1M
Cap Rate 7%
$2,233,486
$2.2M
Cap Rate 9%
$1,737,156
$1.7M
Market Conditions
NOI Build-Up for 11,581 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
$277.9K $24.00/SF
− Vacancy
−$27.8K −$2.40/SF
EGI
$250.1K $21.60/SF
− OpEx
−$93.8K −$8.10/SF
NOI
$156.3K $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%
$3,126,880
Cap Rate 7%
$2,233,486
Cap Rate 9%
$1,737,156
Alternative Uses
Best Use
Mixed Use
$2.23M
$1.95M – $2.61M
NOI $156,344 @ 7.0% cap · market cap 7.82%
Second Best
Retail
$2.04M
$1.79M – $2.38M
NOI $143,002 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$2.94M
$2.58M – $3.43M
NOI $206,045 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,536
Businesses Nearby
101k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 35%
Shops & Services 23%
Hotels & Casinos 20%
Home Improvements & Furnishings 11%
Rouses Market
Groceries
35,073 visits/mo
0.4 miles
Chevron
Shops & Services
23,516 visits/mo
0.4 miles
Homewood Suites by Hilton French Quarter
Hotels & Casinos
15,089 visits/mo
0.5 miles
Mary's Ace Hardware
Home Improvements & Furnishings
11,405 visits/mo
0.2 miles
CC's Coffee House
Dining
8,554 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic corner building with partially completed interiors, frontage on North Rampart and St. Philip, and historic tax credit approvals.
Where is this mixed-use property located?
The property is located at 1000 N Rampart N RAMPART Street 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: Historic mixed‑use building built circa 1870 on a corner lot with frontage on North Rampart St. and St. Philip St.; Approximately 7,615 SF building with an estimated 10,000 SF rentable area and an estimated 11,581 SF total usable area (per seller).; Retains historic features including masonry bearing walls, heavy timber framing, original galleries, and second‑floor ironwork overlooking Rampart St.
