1827 Rampart StNew Orleans, LA 70113
- Mixed-use properties
- 6,403 SF
Property Details for 1827 Rampart St
- Year built
- 1920
- Lot size
- 0.06 AC
- Property size (Sq ft)
- 6,403 SF
- Property type
- Mixed-use properties
- Property subtype
- Other investment properties
- APN
- 412204606
- APU
- 412204606
Description
This exceptional mixed-use property, located at 1827 S Rampart St in New Orleans, Louisiana, presents a compelling investment opportunity. The 6,403 square foot building boasts a prime location, just a block from Simon Bolivar Ave and within a 5-10 minute drive of US 90 Business, the vibrant French Quarter, and the bustling Central Business District. This strategic positioning ensures high visibility and accessibility, attracting significant foot traffic and offering substantial development potential. The property features a spacious ground floor, ideal for a variety of commercial uses, currently configured as an event space. Upstairs, two residential units, currently occupied under Section 8 housing, provide a consistent stream of rental income. The building is a two-story structure with an Orleans Parish APN of 412204606 and a zip code of 70113. Offered at $799,999, this translates to a price per square foot of $124.94. This property is perfect for investors seeking a blend of commercial and residential income in a thriving New Orleans neighborhood. The combination of a versatile ground floor space and stable rental income from the upper-level units makes this a truly unique and attractive investment. Don't miss this chance to own a piece of New Orleans' vibrant commercial landscape.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,015,397
- 6.5%
- $937,290
- 7%
- $870,341
-
Comparable approach
- Method
- Valuation
- Relative Method
- $488,427
- Geo Method
- $455,189
-
Alternative Use
- Use
- Valuation
- Residential
- $1,162,239
- Hospitality
- $1,064,605
- Educational
- $885,739
- Medical
- $916,201
- Retail
- $1,377,816
Location Insight
- City
- New Orleans
- County
- Orleans
- State
- Louisiana
- Latitude
- 29.9395
- Longitude
- -90.0822
- CBSA code
- 35380
- CBSA name
- NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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