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    5500 Weaver Rd Lake Charles, LA 70605

    Sponsored
    For Sale
    $3,500,000

    13.55 Acres, 240-Unit Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 13.55-acre land parcel in Lake Charles, Louisiana, presents a compelling investment opportunity. Located at 5500 Weaver Rd, 70605, this shovel-ready site is fully entitled for a 240-unit Class A apartment complex, comprising ten 24-unit buildings. The project, approved by the Lake Charles City Council on October 4, 2017, is designed for construction in a single phase, projected to take 18 months. The site benefits from a strategic location in a high-growth area of the city, where residential development is concentrated, and the city has invested in infrastructure to support this expansion. Lake Charles's robust economy, fueled by significant ongoing and planned energy and infrastructure projects (estimated at $118 billion between 2017 and 2027), is driving substantial population growth, creating a high demand for housing. This demand is further underscored by projections of 35,000 new residents within the next decade. A third-party market study and appraisal confirm the project's feasibility. The asking price is $3,500,000, translating to $258,302 per acre. The seller is open to considering owner financing or a joint venture with a qualified developer. This opportunity offers significant potential for substantial returns upon project completion and lease-up. The project's viability is supported by a robust market study and appraisal, and the seller will consider owner financing or a joint venture with a qualified developer.

    Property Features for 5500 Weaver Rd

    General Information

    Property type
    Land
    Lot Size
    590,238 SF

    HighLights

    • Shovel‑ready 13.55‑acre site in high‑growth Lake Charles, LA, fully entitled for a 240‑unit Class A apartment complex.
    • Proposed 240‑unit Class A apartment complex, comprised of ten 24‑unit buildings.
    • 18‑month construction timeline with leasing commencing in the first buildings after 12 months.
    • Seller will consider owner financing or joint venture with a qualified developer.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Nail Salon Building Supply Clothing Store Auto Repair Shop Gym & Fitness Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Charles
    County
    Calcasieu Parish
    State
    Louisiana
    Longitude
    -93.2584233
    Latitude
    30.1589138

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    FAQs

    What type of property is this?
    Land - 13.55 Acres, 240-Unit Potential
    Where is this land located?
    The property is located at 5500 Weaver Rd Lake Charles, LA.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: Shovel-ready 13.55-acre site in high-growth Lake Charles, LA, fully entitled for a 240-unit Class A apartment complex.; Proposed 240-unit Class A apartment complex, comprised of ten 24-unit buildings.; 18-month construction timeline with leasing commencing in the first buildings after 12 months.
    (225) 329-8385
    Request Owner's contact information
    5500 Weaver Rd Lake Charles, LA 70605
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    Lake Charles, LA 70605
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    5500 Weaver Rd Lake Charles, LA 70605
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