I-10 & Clearview Parkway Leasehold Interest
Vacant Land
for Sale
| Catylist Listing ID: |
30818521 |
| Property Subtypes: |
Hospitality, Multi-Family, Retail, Self Storage
|
| Gross Land Area: |
2.24 Acres
|
| Sale Price: |
$2,850,000 |
| Unit Price: |
$1,272,321 Per Acre |
| Sale Terms: |
Cash to Seller |
| Last Updated: |
2/6/2023 |
Overview / Comments
Opportunity to acquire a positive leasehold on a 2.244 acre site at the intersection of Interstate 10 and Clearview Parkway. Leasehold is substantially undermarket with term remaining. Lessee is responsible for all cost of occupancy, including taxes and utilities.
Site is currently improved with a 137 key exterior corridor hotel originally constructed by Shoney's Corporation as a Shoney's Inn. Total improvement size is 83,340 sf across three stories.
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Additional Details
| Nearest MSA: |
New Orleans-Metairie |
| County: |
Jefferson |
| Submarket/Township: |
Airport-Metairie-Kenner |
| Tax ID/APN: |
44659 |
| Zoning: |
BC-2 BUSINESS CORE DISTRICT |
| Property Located Between: |
High visibility from I-10 (150,000 ADTV) and Clearview (50,000 ADTV) |
| Property Visibility: |
Excellent |
| Area Description: |
Located in Metairie, Louisiana, a principal suburb of the New Orleans MSA. The subject site is in close proximity to the Clearview City Center, a $100 million mixed-use development featuring a Ochsner Super Clinic, a $55 million 270 unit residential community, and one of the largest retail projects in the New Orleans Metro. |
| Zoning Description: |
Business Core District BC-2 encompasses an area of high density and intensity development situated on a principal thoroughfare and urban mixed-use core. Permitted uses include: hotels, multifamily dwellings of thirty (30) or more units, self storage, and automobile sales, retail stores and establishments. |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
34,020 |
155,472 |
311,670 |
| Median Age: |
39.3 |
42.06 |
39.22 |
| Households: |
14,846 |
66,862 |
131,174 |
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