Bank Owned Hotel Redevelopment or Multifamily Conversion Opportunity
1801 W Pinhook Road
Lafayette, LA 70508
FOR SALE
Property Type:
MotelAmount:
$7,500,000
Last Verified:
Jul 01, 2024Daily Email Blast
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Highlights
- 290-key six-story concrete and steel frame building, in a U-shaped courtyard
- Guestrooms and suites are oversized at an average of ±356 SF
- Over 13,000 SF of meeting space and two retail food and/or beverage outlets to be leased out or operated inhouse, located in a single-story commercial building
- Currently gutted with systems in place
- CM (Commercial Heavy) is a comprehensive and broad zoning and favorable to multifamily conversions
- Strong labor market
- Architectural plans for a multifamily conversion may be available upon request
- Potential seller financing available for qualified purchaser for purchase and renovation
- Branding flexibility presenting a potential redevelopment opportunity
- Priced well below replacement
- Lafayette has shown interest in converting similar properties to apartments
- Extra parking that can be converted into a standalone retail pad
- Some FFE and drywall retained from interior demo that can potentially be used in a multifamily conversion or sold in a hotel conversion
- Bull Realty LA License #0995682852
Description
1801
Lafayette, LA
Year Built: 1981
Building Size: 13000sq ft
Lot Size: 0 acres
Documents
Offering MemorandumSelf Storage NRSF.png
19-258587.2_PCA_Report_-_1801_W_Pinhook_Rd_093019.pdf
