Bank Owned Hotel Redevelopment or Multifamily 1801 W Pinhook Rd 290 Room Hotel Lafayette, LA 70508 For Sale
INVESTMENT HIGHLIGHTS
- 290-key six-story concrete and steel frame building, in a U-shaped courtyard
- CM (Commercial Heavy) is a comprehensive and broad zoning and favorable to multifamily conversions
- Extra parking that can be converted into a standalone retail pad
- Currently gutted with systems in place
- Lafayette has shown interest in converting similar properties to apartments
- Bull Realty LA License #0995682852
EXECUTIVE SUMMARY
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
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
PROPERTY FACTS
AMENITIES
- Fitness Center
- Pool
- Meeting Event Space
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 5 | $119.00 | - |
| Guest Room | 285 | $94.00 | - |
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PROPERTY TAXES
| Parcel Number | 6010037 | Improvements Assessment | $428,810 |
| Land Assessment | $173,706 | Total Assessment | $602,516 |
