4651 Highway 1
Raceland, LA 70394
Property For Lease

Most of the commercialization in the Central Lafourche area takes place along Highway 1. There is a concentration of development around the Wal-Mart Shopping Center, the St. Anne General Hospital and Central Lafourche High School. The primary industries of the parish are: oil and gas production, iron, steel and aluminum fabrications, boat building/repairs, seafood, cattle and truck farming, sugar refining, Bayou Lafourche runs down the center of Lafourche Parish. Highway 1 runs parallel to the bayou on the west side and Highway 308 runs parallel on the east side of the bayou. The restaurant located 1/2 mile from the intersection of Highway 90 (future site for I-49) is a 4-lane state highway that is a major east-west traffic artery. The restaurant is bisects in the Central Lafourche area between Highway 90 and Wal-Mart. The restaurant has been leased for the past 5 years. The lessee defaulted on the lease and the building has been vacant since September of 2018 . The Restaurant is equipped with a verbal fire alarm system and it is equipped with a sprinkler system. Reportedly, the cost of the sprinkler system was $15,315. Additionally, a 4" waterline was required and it had to be run under Highway 1. The water line cost $17,289. The fire alarm was from Safeguard and it cost $5,023. These improvements were required by the State Fire Marshal. The restaurant building was constructed in 2007 and completely remodeled in 2013. The overall effective age of the buildings on the subject property is judged to be 5 years. Concrete - Post Tension Pre-engineered Steel Stained Concrete, Painted Concrete Open, Sheetrock Metal Panels-Two Sides, Stucco-Two Sides Sheetrock Walls Metal, Sandwich Panels 4 Bathrooms, Kitchen, Bar and Outside Sink Central Units Central Units 3 Phase/350 Amp Main Open Concrete, Aggregate and Grass Vinyl Faced -Walls and Ceiling Yes-Verbal Fire Alarm System Standard Steel Supports Patio, Security System, Sprinkler System, Freezer Cooler, Commercial HoodLand size 32,888+/- Sq Ft 1 - Main Building Size Unit 5,156 SF Patio Size 1,191 SF Based on comparable rents in the area, a monthly rental rate of $5,000 to $6,000 ($11.64 to $13.96 per square foot) seems more comparable to market rents for similar properties. Rental terms : $4,200 per month rent for the first year and then accelerate the rent to a market rent at $5,000 per month on a NNN basis for four years or more years with a personal guarantee..