3529-3545 N I-10 Service Rd - Development Site with I-10 Visibility 2.17 - 2.2 Acre Commercial Land Lots Offered at $8,727,926 CAD Per Lot in Metairie, LA 70002
INVESTMENT HIGHLIGHTS
- Location and visibility on major interstate corridor
- Cancelable leases to allow buyer time to plan new concepts
- Development opportunity in the heart of Metairie
EXECUTIVE SUMMARY
A once in a generational opportunity to Purchase or Ground Lease a combined 4.37 acre site in the heart of Metairie, Louisiana. The owners will consider offers on the entire site or Parcels A and B separately. The 3 story office building situated on Parcel A is currently known as the Crutcher–Tufts Building and contains 30,114 square feet of leasable space. The 1st and 2nd floors are leased to 3 tenants (Enterprise Corporate Office, Stanley Security and State Farm). The 3rd floor is currently vacant. The building on Parcel B is 100% leased to Enterprise for their car rental and sales facility. The leases in both buildings have provision allowing the owner to cancel the leases with either a 6-month or 12-month notice.
This is a perfect redevelopment opportunity with income in place. The zoning will allow for multi-family, hotel, office, retail or medical uses. Copies of leases, survey and Phase I environmental are available for review. The owners will consider an outright sale of the properties as well as a long-term lease with an option to purchase.
This is a perfect redevelopment opportunity with income in place. The zoning will allow for multi-family, hotel, office, retail or medical uses. Copies of leases, survey and Phase I environmental are available for review. The owners will consider an outright sale of the properties as well as a long-term lease with an option to purchase.
PROPERTY FACTS
2 LOTS AVAILABLE
Lot Parcel A
| Price | $8,727,926 CAD |
| Price Per AC | $3,967,239.04 CAD |
| Lot Size | 2.20 AC |
Purchase or Ground Lease a combined 4.37 acre site. Parcel A is 2.20 acres and Parcel B is 2.17 acres. The owners will consider offers on the entire site or Parcels A and B separately.
Lot Parcel B
| Price | $8,727,926 CAD |
| Price Per AC | $4,022,085.67 CAD |
| Lot Size | 2.17 AC |
Purchase or Ground Lease a combined 4.37 acre site. Parcel A is 2.20 acres and Parcel B is 2.17 acres. The owners will consider offers on the entire site or Parcels A and B separately.
DESCRIPTION
Opportunity for a user or investor to redevelop a large parcel in an area without many development opportunities and high visibility. The property has existing buildings with existing cancelable leases, allowing buyer time to make plans and still receive income in the interim.
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Walk Score®
Very Walkable (75)
ZONING
| Zoning Code | BC2 |
