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    Prime Land Parcel on I-210 Title is generated by Realmo AI

    2300 W Prien Lake Rd, Lake Charles, LA 70605

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    18.3-acre parcel near I-210, ideal for development.

    Type:Land
    Lot size:
    18.30 Acres
    Added:
    Apr 12, 2024
    Days on Market:
    785
    Last Refresh:
    May 13 at 8:13 pm

    Property Features for 2300 W Prien Lake Rd

    General Information

    Standard status
    Active
    Lot size
    18.30 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Mary Kay Hopkins
    Mary Kay Hopkins

    Listing agent Mary Kay Hopkins License #LA 0000034059

    Listing office Mary Kay Hopkins, LLC

    Listing date Apr 12, 2024

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Mary Kay Hopkins, LLC

    HighLights

    • Prime location with over 1000 feet of high visibility frontage along I‑210.
    • Exceptional access to Golden Nugget and L'auberge Casino and Golf Resorts.
    • Previously approved as a mixed‑use subdivision by the City of Lake Charles.
    • Flexible parcel configurations and owner willingness to subdivide the 18.3‑acre property.
    • Proximity to retail, dining, medical facilities, and essential services via Nelson Road.
    • Convenient access to South Lake Charles residential areas and key industrial, educational, and medical facilities via I‑210.

    Overview

    This 18.3-acre parcel, known as "GATEWAY 210", is located along the I-210 corridor and near casino and hotel resorts, retail, medical facilities, and restaurants. Previously approved as a mixed-use subdivision by the City of Lake Charles, the property offers over 1000 feet of visibility along I-210. It provides access to the Golden Nugget and L'auberge Casino and Golf Resorts, and is near the residential community of Southwest Lake Charles and the Lake Charles Country Club. Retail outlets, dining establishments, medical facilities, and other services are accessible via Nelson Road. The property is also near Chennault Industrial Airpark, Sowela Technical College, Oak Park Medical Community, and Christus Ocshner Hospitals via I-210. The Nelson Road Extension Bridge will enhance access to downtown Lake Charles. While suited for a business park, the property can be subdivided. Conceptual renderings show the potential for a business park on the western segment and senior housing or recreational amenities on the eastern portion, such as a sports bar or restaurant with pickleball courts. Additional structures on the easternmost end could host enterprises incorporating a footbridge or deck overlooking a park-like setting or a dog park. The entire 18.3-acre parcel is available, or 12.69 acres can be purchased. Parcel configurations are flexible, with negotiable widths starting from the Westside. The official municipal address will be assigned as building improvements take place.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Charles
    County
    Calcasieu
    State
    Louisiana
    Longitude
    -93.184371
    Latitude
    30.197974

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    FAQs

    What type of property is this?
    Commercial land - 18.3-acre parcel near I-210, ideal for development.
    Where is this commercial land located?
    The property is located at 2300 W Prien Lake Rd Lake Charles, LA.
    What is the asking price?
    The asking price for this property is $7,317,818.
    What are key features of this property?
    This property features: Prime location with over 1000 feet of high visibility frontage along I‑210.; Exceptional access to Golden Nugget and L'auberge Casino and Golf Resorts.; Previously approved as a mixed‑use subdivision by the City of Lake Charles.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mary Kay Hopkins
    Mary Kay Hopkins
    Real Estate License ID: LA 0000034059
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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