Premier Value-Add Commercial Real Estate Opportunity in New Iberia, LA

Bull Realty is pleased to present the exclusive fee-simple acquisition opportunity for a former 163-key Ramada Inn located in New Iberia, Louisiana. Spanning a total building size of approximately 65,000 square feet on a highly visible footprint, this multi-use commercial asset presents a diverse array of repositioning, renovation, and redevelopment options for strategic real estate investors.

Situated directly off Louisiana Highway 14 and immediately accessible via Exit 128A on U.S. Highway 90, the property enjoys direct connectivity to key regional nodes, including being just a 20-minute drive from Lafayette Regional Airport (LFT). Priced significantly below replacement cost at approximately $17,500 per key, this underperforming asset offers substantial potential for upside in revenue, net operating income, and overall cap rate expansion under dynamic management or adaptive reuse strategies.

Flexible Purchase Options & Financing Structures

To accommodate tailored capital deployment strategies, the property is structured with flexible acquisition pathways and aggressive pricing tiers:

• Full Property Acquisition (163 Rooms): $2,800,000

• Partial Property Acquisition (67 Rooms): $1,198,000

• Year Built: 1977

• Total Building Area: ±65,000 SF

• Priced Per Key: ~$17,500

Unencumbered Ownership & Seller Financing

The property is offered entirely unencumbered by existing management contracts or debt obligations, providing full execution operational freedom to the buyer upon closing. Furthermore, seller financing (owner financing) is available for qualified purchasers, with specific terms, loan-to-value (LTV) ratios, and interest rates structured according to the purchaser's financial strength and credit profile.

Strategic Commercial Location & High-Impact Demand Drivers

Situated at a signalized corner location boasting exceptional visibility with traffic counts exceeding ±50,000 vehicles per day (VPD), the site benefits from robust, daily commercial exposure.

New Iberia's growing submarket is anchored by major industrial, medical, scientific, and corporate employment centers:

• Port of Iberia: Major industrial engine supporting 5,000+ daily workforce members.

• Corporate Hubs: Direct proximity to global and regional operators including Halliburton, Double Eagle Marine, and Aviation Exteriors.

• Healthcare & Research: Near Iberia Medical Center and the New Iberia Research Center.

• Tourism & Heritage: Proximity to the famous McIlhenny Company (Tabasco Brand) on Avery Island, driving steady leisure and regional business travel.

• Retail Context: Located within a 3-mile radius of a Walmart Supercenter, T.J. Maxx, popular restaurants, and an surrounding daytime workforce exceeding 14,000 employees.

Zoned C4 Heavy Commercial: Five Value-Add Development Strategies

The site carries C4 (Heavy Commercial) Zoning, unlocking a wide spectrum of permitted uses—ranging from full-service hospitality and dual-branded hotel operations to senior housing, workforce multifamily conversions, and mixed-use retail pads.

Additionally, the site lies within an Opportunity Zone, providing qualifying investors with tax incentives, including capital gains deferrals and step-ups in basis.

5 Highest & Best Use Redevelopment Scenarios:

1. Economy or Independent Hotel Renovation: Fully renovate the existing structure and operate as a consolidated 163-room hotel under a national economy brand or an independent boutique flag.

2. Dual-Branded Hospitality Model: Split the property into a dual-branded concept at distinct price points (e.g., configuring 67 keys under one flag and 96 keys under another) to capture both long-term extended stay and short-term transient guest demand.

3. Hybrid Hospitality & Multifamily Conversion: Right-size active hospitality inventory to 67 or 96 rooms while converting remaining wings into long-term residential rentals, workforce housing, or senior living units.

4. Complete Multifamily / Adaptive Reuse Conversion: Convert all existing square footage into multi-family residential apartments or senior housing. Local municipal leaders in New Iberia have demonstrated strong support for adaptive reuse initiatives on comparable commercial structures.

5. Site Redevelopment / Mixed-Use Retail Pad: Demolish existing structures to utilize the expansive acreage for new-construction mixed-use commercial, neighborhood retail centers, or quick-service restaurant (QSR) development.

Key Site Features & Infrastructure Advantages

• Abundant Parking & Retail Pad Potential: The property features 240 dedicated parking spaces, including expansive truck parking capabilities. The rear parking footprint provides an immediate opportunity to ground-lease or develop a standalone ±0.5-acre retail pad.

• Event Space & Public Amenities: Includes ±5,300 SF of dedicated former meeting and conference space, along with substantial indoor public areas suitable for a centralized lobby, breakfast area, or corporate conference facility.

• Standalone Restaurant Outlot: The front building configuration allows for immediate operation as a standalone full-service restaurant or tavern concept to generate auxiliary rental income.

• Favorable Regional Labor Dynamics: Per U.S. Bureau of Labor Statistics (BLS) data, local construction labor costs in New Iberia are 7% lower than the Louisiana state average and 19% below the national average, greatly expanding yield potential during conversion or renovation phases.

• Strengthening Hospitality Fundamentals: The Southern Louisiana hospitality submarket continues to show sustained strength, reflecting strong year-over-year gains including 2.1% ADR (Average Daily Rate) growth and 2.8% RevPAR (Revenue Per Available Room) growth alongside expanding occupancy levels.