• Broker Steven Reisig 5048312363

3529-3545 N I-10 Service Rd - Development Site with I-10 Visibility 2.17 - 2.2 Acre Commercial Land Lots Offered at $8,607,460 CAD Per Lot in Metairie, LA 70002

View Photo

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.

ATTACHMENTS

Crutcher-TuftsFlyer_22.01 v9

PROPERTY FACTS

Price $8,607,460 - $17,214,919 CAD
Sale Type Investment or Owner User
Sale Conditions
1031 Exchange
  • Ground Lease (Leasehold)
  • Redevelopment Project
No. Lots 2
Property Type Land
Property Subtype Commercial
Proposed Use
Commercial
  • Retail
  • Office
  • Multifamily
  • Hospitality
  • Apartment Units
  • Auto Dealership
Total Lot Size 4.37 AC
Zoning BC2

2 LOTS AVAILABLE

Lot Parcel A

Price $8,607,460 CAD
Price Per AC $3,912,481.65 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 $8,607,460 CAD
Price Per AC $3,966,571.26 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.

LINKS

Walk Score®
Very Walkable (75)

MAP

ADDITIONAL PHOTOS

View Photo 3529-3545 N. I-10 Service Rd. - Area Context Photo 1
View Photo 3529-3545 N. I-10 Service Rd. - Area Context Photo 2
View Photo 3529-3545 N. I-10 Service Rd. - Area Context Photo 3
View Photo 3529-3545 N. I-10 Service Rd. - Leases
View Photo 3529-3545 N. I-10 Service Rd. - Parcel Size A
View Photo 3529-3545 N. I-10 Service Rd. - Parcel Size B

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