Prime Redevelopment Opportunity in Lake Charles

Office for Sale
Catylist Listing ID: 30836902
Property Subtypes: Office Building
Building Size (RSF): 348,402 SF
Gross Building Area: See Agent
Gross Land Area: 10.76 Acres
Sale Price: $11,750,000
Unit Price: $33.73 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/21/2024

Overview / Comments

Incredible redevelopment opportunity in the heart of Lake Charles, Louisiana. The Tower is a 22-story, 348,402 rentable square foot multi-tenant office building with an attached 6-level parking garage and an additional vacant 4.35-acre lot across the street. Located on Lakeshore Drive in the Central Business District, the entire 10.75-acre property is highly visible from Interstate 10. It is the only office tower of its size in the fifth largest city in Louisiana, which has an estimated population of 84,872.

**PRICING INCLUDES ASSIGNMENT OF $7,000,000 IN ESCROWED FUNDS TO COMPLETE EXTERIOR REPAIRS OR DEMOLITION.**

Built in 1983 and recognized as one of the premier office towers in Lake Charles it is located a short distance from other major office buildings in the CBD, including many government offices and courthouses. Situated near the waterfront, the Tower has unobstructed views in all directions, including the lake, convention center and the downtown area.

The 4.35 +/- acre parcel situated across the street is primed for development and zoned T-5 Urban Center Transect allowing for a variety of uses with great access to I-10 and I-210.

Additional Details

Nearest MSA: Lake Charles
County: Calcasieu
Tax ID/APN: 00574856
Property Located Between: N. Lakeshore Drive, W. Mill Street, Ann Street & W. Pine Street
Property Visibility: Excellent
Highway Access: Close proximity to I-10 and I-210
Site Description: The Tower: 4.80 +/- acres Parking Garage: 1.60 +/- acres Vacant Land: 4.35 +/- acres
Total Number of Buildings: 2
Number of Stories: 22
Typical SF / Floor: 16,000 SF
Construction/Siding: Metal/Glass
Parking Type: Structure, Surface
Parking Description: Surface parking and a 6-story parking garage attached to the building
Passenger Elevators: 3
Freight Elevators: 1
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,401 49,783 87,557
Median Age: 41.06 38.32 36.87
Households: 2,648 20,379 35,229

Contact

Photograph of Listing Agent

Mamie Hightower

Beau Box Commercial Real Estate Lafayette Lafayette, LA 70501
LACDB Member
Photograph of Listing Agent

Cres Gardner

Beau Box Commercial Real Estate New Orleans Lafayette, LA 70501
LACDB Member
Photograph of Listing Agent

Monty Warren, SIOR, CCIM

Beau Box Commercial Real Estate Lafayette Lafayette, LA 70501
LACDB Member
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