2915 Louisiana 14 New Iberia, LA 70560

The property is a former 163-key Ramada Inn located off Louisiana Highway 14 in New Iberia, Louisiana. The site is zoned C4 (heavy commercial), allowing for a wide range of uses, including hotel, multifamily, or mixed-use redevelopment. Hotel franchise options are available. A multifamily conversion is viable for senior living and workforce housing. The property is offered unencumbered by management or debt, and seller financing is available. The site includes ample indoor public space, 240 parking spaces (including truck parking), and a ±5,300 SF former meeting space. The front building can operate as a stand-alone restaurant, and the rear parking area offers potential for a ±10.5-acre retail pad. The property is located right off Exit 128A Hwy 90. The location is a signalized corner with over ±150,000 VPD. It is located within a 3-mile radius of Walmart Supercenter, T.J. Maxx, restaurants, and 14,000+ daytime workers. It is also located 20 minutes from Lafayette Regional Airport (LFT). The property is surrounded by major demand generators such as the Port of Iberia (5,000+ workers), Double Eagle Marine, Halliburton, Iberia Medical Center, New Iberia Research Center, Aviation Exteriors, and McIlhenny Company (Tabasco ) on Avery Island. New Iberia has shown interest in converting comparable properties to apartments. The Southern Louisiana hospitality submarket has experienced 2.1% ADR and 2.8% RevPAR growth year-over-year.