Historic Treme Mixed-Use
1009 N RAMPART Street New Orleans, LA 70116
For Sale
$1,160,000
MULTI_FAMILY - New Orleans, LA
Property Size4,977 SF
Price / SF$233.07
Days on Market168
Property Features for 1009 N RAMPART Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Standard status
Active
APN
1009-NRAMPARTST
Size
4,977 SF
Taxes and HOA fees
Tax Description
SQ 112 LOT 26-A N RAMPART 31X127
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1870
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Cottage
Listing Agency:
eXp Realty, LLC
(337) 522-7554
Listed By:
Kim Carnegie · License #995681108
(337) 522-7554
Added: Feb 12
Changed: Jun 4
Last Checked: Jul 30 at 6:06AM
MLS# 2542019
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.
Investment Insights
Based on property information with market context.
Located in the heart of Treme, just outside the French Quarter, this historic, commercially zoned building presents a rare investment opportunity. Situated on North Rampart Street and adjacent to Louis Armstrong Park, this property offers approximately 4,900 square feet of space. The building has been separated into two units and offers a large interior footprint with multiple redevelopment possibilities. It includes a total of 9 bedrooms and 4 bathrooms, providing scale and flexibility for a variety of income-producing or redevelopment strategies. Positioned within one of New Orleans' most iconic and culturally rich corridors, the property offers strong visibility and proximity to major tourism, entertainment, and cultural destinations. Thoughtful renovations would bring this storied building back to life and enhance its value as a long-term investment asset.
Key Highlights
- Historic cottage on North Rampart St, commercially zoned, adjacent to Louis Armstrong Park
- Approximately 4,900 SF building separated into two units with a large interior footprint
- Includes 9 bedrooms and 4 bathrooms total, offering flexible layout options
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $119.4k | $24.00 |
| − Vacancy | −$11.9k | −$2.40 |
| EGI | $107.5k | $21.60 |
| − OpEx | −$40.3k | −$8.10 |
| NOI | $67.2k | $13.50 |
4,977 SF · lease $24.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$959.9K
$839.9K – $1.12M
NOI $67,190 @ 7.0% cap · market cap 5.79%
Second Best
Multifamily LT 5
$900.3K
$787.8K – $1.05M
NOI $63,021 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$1.26M
$1.11M – $1.48M
NOI $88,549 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic commercially zoned building in Treme, near French Quarter.
Where is this mixed-use property located?
The property is located at 1009 N RAMPART Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,160,000.
What are key features of this property?
This property features: Historic cottage on North Rampart St, commercially zoned, adjacent to Louis Armstrong Park; Approximately 4,900 SF building separated into two units with a large interior footprint; Includes 9 bedrooms and 4 bathrooms total, offering flexible layout options
