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.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Jefferson
Submarket/Township: Airport-Metairie-Kenner
Tax ID/APN: 44659
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.

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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


Photograph of Listing Agent

Daniel Marse

NAI/Latter & Blum Commercial New Orleans New Orleans, LA 70130
LACDB Member
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