Historic Mixed-Use Building with
For Sale
$1,999,000
1000 N Rampart N Rampart St, New Orleans, LA 70116
Corner property with historic character, flexible build-out, and VCC-2 zoning for approved commercial, residential, or mixed-use configurations.
Property Size11,581 SF
Price / SF$172.61
Days on Market17
Property Features for 1000 N Rampart N Rampart St
General Information
Standard status
Active
Size
11,581 SF
Zoning
VCC-2
Additional Details
Road Access
Yes
Building Details
Year Built
1870
Buildings
1
Construction
masonry
Listing Agency:
Talbot Realty Group
Listed By:
Christopher Talbot · License #000075986
(504) 319-1452
Source:
Dominionplace
Added: Aug 19
Changed: Aug 30
Last Checked: Sep 1 at 10:59PM
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 property occupies a corner site at North Rampart Street and St. Philip Street, near the French Quarter and Tremé. Constructed circa 1870, the building retains masonry bearing walls, heavy timber framing, original galleries, and second-floor ironwork facing Rampart Street. Interior work is partially complete, allowing the next owner to shape the final configuration. A full-height attic on the third level may support additional conditioned space, mezzanine areas, or loft-style programming subject to approvals.
The property includes an approximately 7,615-square-foot structure, approximately 10,000 square feet of estimated rentable area, and approximately 11,581 square feet of total usable area based on the stated allocation of gallery and balcony areas. VCC-2 zoning supports a range of commercial, residential, and mixed-use configurations subject to applicable approvals. State and Federal Historic Tax Credit Part 1 approvals confirm contributing historic status and eligibility for rehabilitation tax credits. The property is offered as-is.
The property includes an approximately 7,615-square-foot structure, approximately 10,000 square feet of estimated rentable area, and approximately 11,581 square feet of total usable area based on the stated allocation of gallery and balcony areas. VCC-2 zoning supports a range of commercial, residential, and mixed-use configurations subject to applicable approvals. State and Federal Historic Tax Credit Part 1 approvals confirm contributing historic status and eligibility for rehabilitation tax credits. The property is offered as-is.
Key Highlights
- Approximately 7,615 SF historic structure on a corner lot
- Approximately 10,000 SF of estimated rentable area
- Approximately 11,581 SF of total usable area
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
—
—
no second resolved use
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
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,140
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 - Corner property with historic character, flexible build-out, and VCC-2 zoning for approved commercial, residential, or mixed-use configurations.
Where is this mixed-use property located?
The property is located at 1000 N Rampart 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: Approximately 7,615 SF historic structure on a corner lot; Approximately 10,000 SF of estimated rentable area; Approximately 11,581 SF of total usable area
