5656 N Highway 1
Lockport, LA 70374
Economy Inn - New Price · Hospitality Property For Sale · 9,327 SF

Hajari Realty, Inc. (Seller’ Broker) is exclusively retained to offer the fee-simple interest in the 22-room Economy Inn, one of the leading premium and independent economy hotels in Lockport / Matthews / Raceland / Larose community, 49.6 miles South from Louisiana’s largest market, New Orleans, Louisiana. The renovated motel is available unencumbered by management, nonetheless likely available for licensing with Rodeway Inn (Choice Hotels International) , Econo Lodge (Choice Hotels International), America’s Best Value Inn (RLH), Scottish Inns (Hospitality International, Inc.), Knights Inn (RLH), or similar flags upon completion of a Property Improvement Plan (PIP). With 22 guest rooms and a very SPACIOUS manager’s / living quarters on-site, features include air-conditioning / heating, daily housekeeping services, microwaves, refrigerators, BBQ facilities, telephones/tv, and WiFi access. - http://www.economyinnlockport.us/ The one-story and two-story exterior corridor property has approximately +/-10,000 square feet of building area situated on +/- 1 acres located on busy LA-1 (Hwy. 1) commercial corridor nearby to restaurants, (Blackie’s Seafood, Taco Bell, McDonald’s, Burger King, Pizza Hut, Domino’s, El Paso Mexican Grill, Wendy’s, Smoothie King, and Sonic Drive-In) hotels (Lockport Motel and Holiday Inn Express) and retail business such as (Rouses Market, Frank’s Supermarket, CVS Pharmacy, Robichaux’s Pharmacy, Walmart Super Center, Lafourche Parish Sheriff’s Office, Auto Dealership and service businesses). The Economy Inn is the only motel offering both, one & two story buildings- exterior-corridor CLEAN rooms that meet an underserved and unique customer-base that visits and works in the area. The motel offers spacious well-appointed guestrooms with microwave and refrigerators in most rooms. The motel has an additional 3rd vacant building that can easily serves as meeting space, fitness space, additional guest rooms, another living quarters, or even a RETAIL use (please refer to pictures and further descriptions of this building in the OM). This additional vacant building can provide another stream of revenue generation for maximizing profits from the property or turned into an apartment for renting out or using as another owners’ suite. Lockport’s location and access to both Highway 1 & Highway - 90 makes it an ideal facility for hosting guest. Just a short drive (23 miles) to Thibodaux, LA - Annual events such as the much celebrated “Manning Passing Academy” each Summer Weekend in June at Nicholls State University where the city host visitors from around the country to this world class classic football event, also known as the “Premier Camp in the Country” - https://manningpassingacademy.com/ . The city of Lockport offers visitors Bayou Side Park, Bayou Lafourche Folklife and Heritage Museum, Center for Traditional Louisiana Boat Building, Bayou Playhouse, as well many other parks and nearby attractions (http://townoflockport.com/). The motel offers significant upside with more strategic management, direct sales efforts, and possibly branding to meet today’s customers’ loyalty redemption programs available through various hotel chains. Today it is operating with stable in-place cash flow. The hotel has potential for increasing the RevPAR upon completion of a PIP and implementation of a more aggressive revenue management strategy. The ideal buyer will be an Owner-Operator who completes a “Minimal” renovation, takes the time to enhance top-line revenues while staying focused on operating efficiencies, thus achieving a stronger bottom-line. Perfect size property to learn the ins-and-outs of the motel / lodging business. The hotel can be financed through with various lenders at conducive terms. Please ask broker for details. Asking price: $550,000 | ONLY $25,000 per room | New Reduced price of $475,000 The hotel is located approximately 35 miles from the existing New Orleans International Airport (MSY) - a soon to be billion dollar upgraded new facility.