Bank Owned Hotel Redevelopment or Multifamily Conversion Opportunity

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

Documents: