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Ramada by Wyndham New Iberia 2915 LA-14

160 Room Hotel New Iberia, LA 70560 $4,692,600 CAD ($29,329 CAD/Room) 8.96% Cap Rate

Investment Highlights

  • Priced to sell at $3,300,000
  • Capable of Generating Revenues Nearing $1.6M!
  • 5,314 SQFT Meeting Space
  • Historical Revenues Exceeding $1M
  • Massive Upside Potential with PIP Completion and New Management

Executive Summary

Thank you for your interest in the 160-room Ramada located in New Iberia, Louisiana.
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Highlights & Location:
*Amazing Price Per Key at $20K
*Recent Interior and Exterior Renovations Completed
*1700SQFT Newly Remodeled Residence On-Site Home
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Corporate/Top Employers:
*Bristow Group Inc.: Bristow Group, an offshore helicopter transportation company, has a significant presence in New Iberia, providing employment opportunities in the aviation sector.
*Iberia Medical Center: This healthcare facility provides a range of medical services and is a notable employer in the healthcare sector.
*Acadian Ambulance: Acadian Ambulance is a large medical transportation and emergency services provider, offering job opportunities in healthcare and emergency response.
*The Bayou Companies: This company specializes in pipe coating and insulation services for the oil and gas industry, contributing to employment opportunities in the energy sector.
*Avery Island (McIlhenny Company): Avery Island is home to the McIlhenny Company, known for producing Tabasco hot sauce. Jobs related to the production and visitor experience are available here.
*Halliburton: Halliburton, a global oilfield services company, has a presence in the region and may employ individuals in the energy sector.
*Local Government: Various local government offices and agencies, including the city and parish government, offer public sector employment opportunities.
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Demand Generators:
*Avery Island: Avery Island is famous for being the home of Tabasco hot sauce. Visitors can tour the Tabasco factory, explore beautiful gardens, and learn about the history of this iconic condiment.
*Jungle Gardens: Located on Avery Island, Jungle Gardens is a lush botanical garden and wildlife sanctuary. It features scenic trails, exotic plants, and a variety of wildlife, including alligators and egrets.
*Shadows-on-the-Teche: This historic plantation home is a National Historic Landmark. Visitors can take guided tours to learn about the history of the region and the plantation.
*Bayou Teche: The Ramada New Iberia is situated near Bayou Teche, offering opportunities for scenic boat rides, fishing, and bird-watching.
*Konriko Rice Mill and Store: This historic rice mill, located in New Iberia, offers tours where you can learn about the rice industry and even purchase locally-produced rice products.
*Cajun and Creole Cuisine: New Iberia is known for its delicious Cajun and Creole cuisine. Visitors can explore local restaurants and savor dishes like gumbo, jambalaya, and crawfish étouffée.
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LOAN & FINANCING:
This hotel will qualify for an SBA 7A and Conventional Financing.
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Louisiana Broker of Record:Brian Brockman  
Bang Realty E: Bor@bangrealty.com
LA DRE BROK.0995684990-ASA

Property Facts

Price $4,692,600 CAD
Price Per Room $29,329 CAD
Sale Type Investment
Cap Rate 8.96%
Property Type Hospitality
Property Subtype Hotel
Building Class C
Lot Size 6.49 AC
Building Size 65,000 SF
No. Rooms 160
No. Stories 2
Year Built 1977
Parking Ratio 3.81/1,000 SF
Corridor Exterior

Amenities

  • Business Center
  • Fitness Center
  • Pool
  • Room Service
  • High Speed Internet Access
  • Patio
  • On-Site Bar
  • Meeting Event Space
  • Public Access Wifi
  • Fully-Equipped Kitchen

Room Mix Information

Description No. Rooms Daily Rate SF
Suite 8 $169.22 CAD -
Guest Room 152 $112.34 CAD -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0502750646
Land Assessment
$97,959 CAD
Improvements Assessment
$129,214 CAD
Total Assessment
$227,173 CAD

zoning

Zoning Code C-4 (Highway Commercial District)
C-4 (Highway Commercial District)
  • Listing ID: 30323090

  • Date on Market: 2023-12-08

  • Last Updated:

  • Address: 2915 LA-14, New Iberia, LA 70560

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