Historic Treme Building For
1029 North Rampart Street New Orleans, LA 70116
1029 North Rampart Street, New Orleans, LA, 70116
$1,130,000
For Sale
$1,130,000
Historic 4,800 sq ft commercially zoned building in Treme.
Property Size4,814 SF
Price / SF$234.73
Days on Market300
Property Features for 1029 North Rampart Street
General Information
- Standard status
- Active
- Size
- 4,814 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1850
Listing Agency
eXp Realty, LLC
(504) 723-1010
Listed by
Kim Carnegie · License #995681108
(504) 723-1010
Source
Compass
Added: Sep 22, 2025 Checked: Jul 17 at 4:15 am
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 eXp Realty, LLC
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. The property, situated on North Rampart Street and adjacent to Louis Armstrong Park, offers approximately 4,800 sq ft of space. It features 8 bedrooms and 5 baths, with a large interior footprint that allows for multiple layout and redevelopment possibilities. 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. Potential uses include a boutique hotel, mixed-use development, or luxury condominiums. Thoughtful renovations would bring this storied building back to life and enhance its value as a long-term asset.
Key Highlights
- Prime location in the heart of Treme, adjacent to Louis Armstrong Park and just outside the French Quarter.
- Commercially zoned, offering diverse redevelopment possibilities.
- Large interior footprint of approximately 4,800 sq ft with 8 bedrooms and 5 baths.
Local Financial Insights For Apartment 5plus
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 | $112.1k | $23.28 |
| − Vacancy | −$10.2k | −$2.12 |
| EGI | $101.9k | $21.16 |
| − OpEx | −$45.8k | −$9.52 |
| NOI | $56.0k | $11.64 |
4,814 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$800.4K
$700.4K – $933.8K
NOI $56,029 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,649 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Multifamily properties
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Historic 4,800 sq ft commercially zoned building in Treme.
Where is this multifamily property located?
The property is located at 1029 North Rampart Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,130,000.
What are key features of this property?
This property features: Prime location in the heart of Treme, adjacent to Louis Armstrong Park and just outside the French Quarter.; Commercially zoned, offering diverse redevelopment possibilities.; Large interior footprint of approximately 4,800 sq ft with 8 bedrooms and 5 baths.
