Hotel & Motel Property For Sale - Americas Best Value Inn - New Orleans

5801 Read Blvd, New Orleans, LA, 70127

 
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Americas Best Value Inn - New Orleans

 

5801 Read Blvd

New Orleans, Louisiana 70127
County: Orleans
 
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  For Sale Active  
Property Use Type:Investment
Type:Hotel & Motel
Full Service
No. Rooms:143
Building Size:85,000 SF
Lot Size:3.00 Acres
Price:$3,995,000
Price/Room:$27,937
Date Last Verified:11/12/2008
Property ID:15789358
 
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 Additional Information 

Property Description:
Seven floor interior corridor newly renovated large rooms with granite bath & vanity, full glass view, Outdoor swimming pool, 143 Rooms with agreegate sand finish, Two elevators and meeting room, Nice large lobby, Concrete block building, New Waffle House in front of the property entrance.

This property is under Gulf Opportunity Zone (GO ZONE) which gives 50% first year Bonus Depreciation and other Federal and State incentives.

Location Description:
This property is located in East New Orleans on Interstate I-10 , Exit 244. Across from newly build Lowe's (Largest in US) and Renaissance Town Center Mall, This property is minutes away from other New Orleans tourist attractions such as the Audubon Zoo, the French Quarter, Downtown New Orleans, Superdome, Convention Center, NASA, Six Flags, Memorial Methodist Hospital, and many famous restaurants like McDonalds, Papayas , iHope, Dominos and Papa's Pizzas within walking distance. Also located near Exxon and Mobile Oil Refinery and University of New Orleans. East New Orleans is one of the fastest growing areas in US at 212% in next 2 years. New development in this area includes Renaissance Town Center and Super WalMart, which are coming right across the motel. Renaissance Town Center will include a mix of commercial elements including, grand theater, medical plaza, supermarket, restaurants, shops and offices on 80 acres of space across from this motel.

Six Flags New Orleans is being converted to waterpark and entertainment district, Creating a "world-class amusement park" open year round which is about 2 miles fron the property.

No. Stories:7Commission Split:2.5%
Property Types:Full Service
Economy/Limited Service
Corridor:Yes
Average Occupancy:56%
 Highlights 
Seven floor interior corridorLarge rooms 25x12x8
 
Located in one of the fastest growing area in US at 212%Minutes away from New Orleans tourist attractions
 
Excellent tax credit and Go-Zone redevelopment opportunityAcross from the proposed Super Wallmart, Renaissance Town Center. Waffle House coming in front of this motel.
7/7/2008
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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
 
 

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