Adaptive Reuse / Value-Add Hotel Opportunity

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.