Highlights
•Signalized corner location with ±50,000 VPD •Flexible zoning: hotel, multifamily, or mixed-use •Owner financing available for qualified purchasers •Value-add opportunity at $17,500 per key •Underperforming asset with potential revenue improvement under new management •20 minutes from Lafayette Regional Airport (LFT) •Direct access off Exit 128A, Hwy 90 •Southern Louisiana hospitality submarket growth: 2.1% ADR, 2.8% RevPAR YoY •Proximity to Walmart Supercenter, T.J. Maxx, restaurants, and 14,000+ daytime workers within 3 miles •Ample parking with potential for standalone retail pad •Positioned within an Opportunity Zone
Description
Bull Realty is pleased to present the fee-simple acquisition of a former 163-key Ramada Inn in New Iberia, Louisiana, offering a compelling value-add or redevelopment opportunity. Situated off LA Highway 14, the property benefits from proximity to major demand generators including the Port of Iberia (5,000+ workers), Double Eagle Marine, Halliburton, Iberia Medical Center, New Iberia Research Center, Aviation Exteriors, and the McIlhenny Company (Tabasco) on Avery Island. Zoned C4 (heavy commercial), the site supports a wide range of uses, including hotel, multifamily, or mixed-use development. Hotel franchise options are available, and a multifamily conversion could serve senior living or workforce housing. The property features ample indoor public space, 240 parking spaces (including truck parking), and a ±5,300 SF former meeting area. The front building can operate as a standalone restaurant, while the rear parking area offers potential for a ±0.5-acre retail pad. With construction labor costs in New Iberia 7% below the Louisiana average and 19% below the national average, the site provides a favorable cost structure for renovations or redevelopment. Offered unencumbered, the property also has seller financing available, terms dependent on purchaser qualifications. This underperforming asset provides multiple value-add scenarios: renovate and operate as a 163-room hotel, dual-brand with smaller room counts, convert a portion or all rooms to multifamily or senior living, or clear the site for new mixed-use development. Combined with strong visibility, strategic location, and nearby commercial and residential growth, this property offers investors significant upside potential.
Listing Details
- Space Type
mixed-use
- Sub Category
mixed-use-hospitality / mixed-use-multifamily / mixed-use-retail
- Date Listed
2/12/2026
- Investment Type
Value Add
- Parking Info
240 spaces
Property Specifics
- Property Name
Adaptive Reuse / Value-Add Hotel Opportunity
- No of Buildings
8
- No of Stories
2
- Year Built
1977
- Lot Size
6.49 Ac
- Year Renovated
2015
- Zoning
C-4