Hotel-Motel
Auction - Travelodge New Orleans West
2200 Westbank Expy, Harvey, LA 70058
Listing Price: $1,500,000
Investment Overview
Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace Marcus & Millichap and RI Marketplace have been retained to offer for sale the fee simple interest in the 212-room Travelodge New Orleans West located at 2200 Westbank Expy in Harvey, Louisiana (the “Property” or “Hotel”). The Property provides the opportunity for a new owner to acquire a 212-room hotel with potential to realize significant RevPAR growth through a complete re-branding or value can be added by renovating and leasing out the restaurant space in the front of the hotel. The Hotel is a 1971-build, two story property located off U.S. Highway 90, providing ease of access for commerce and tourism. Positioned on ±3.77 acres of land, the Property offers abundant surface parking spaces and is easily accessible via two points of ingress/egress. The Property’s pylon signage is visible to over 86,500 vehicles per day commuting on US-90. The Property is zoned C2/General Commercial and offers favorable flexible zoning. Additionally, there may be an opportunity to convert the building to multifamily or workforce housing. Harvey is a suburb of New Orleans, located on the west bank of the Mississippi River and is about ±10 minutes from Downtown New Orleans. The Travelodge by Wyndham New Orleans West is within a ±15-minute drive of the Port of New Orleans and just ±25-minutes from Louis Armstrong New Orleans International Airport (MSY). The Property benefits from an array of nearby corporate demand generators including: the Harvey Canal (home to ±2,000 acres of heavy and light industrial properties), Bollinger Shipyards, Inc., Phillips 66 Refinery, Naval Air Station New Orleans, West Jefferson Medical Center, and TPC New Orleans. The Hotel is also strategically positioned 15-minutes from several leisure demand drivers including the Ernest N. Morial Convention Center, Louisiana Super Dome, New Orleans Arena, French Quarter, Jackson Square, Bourbon Street, Canal Street and Both Harrah’s New Orleans Casino and Boomtown New Orleans Casino. The Property offers excellent accessibility to the greater area and is strategically located in a densely populated area that serves ±328,890 individuals with an average household income of ±$88,569 within a five mile radius.
Auction - Travelodge New Orleans West
Investment Highlights
- STARTING BID $1,500,000 | 212 ROOMS | AUCTION APRIL 17-19, 2023
- 212-Room Travelodge Located Within Minutes of Downtown New Orleans
- Sits on ±3.77 Acres – Zoned C-2 General Commercial
- Opportunity to Add Value through Renting Out Restaurant (Currently Vacant)
- Adjacent to US Hwy 90 (Westbank Expy) Benefitting from 86,584 VPD
Exclusively Listed By
Listing Price: $1,500,000
Investment Highlights
- STARTING BID $1,500,000 | 212 ROOMS | AUCTION APRIL 17-19, 2023
- 212-Room Travelodge Located Within Minutes of Downtown New Orleans
- Sits on ±3.77 Acres – Zoned C-2 General Commercial
- Opportunity to Add Value through Renting Out Restaurant (Currently Vacant)
- Adjacent to US Hwy 90 (Westbank Expy) Benefitting from 86,584 VPD
Investment Overview
Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace Marcus & Millichap and RI Marketplace have been retained to offer for sale the fee simple interest in the 212-room Travelodge New Orleans West located at 2200 Westbank Expy in Harvey, Louisiana (the “Property” or “Hotel”). The Property provides the opportunity for a new owner to acquire a 212-room hotel with potential to realize significant RevPAR growth through a complete re-branding or value can be added by renovating and leasing out the restaurant space in the front of the hotel. The Hotel is a 1971-build, two story property located off U.S. Highway 90, providing ease of access for commerce and tourism. Positioned on ±3.77 acres of land, the Property offers abundant surface parking spaces and is easily accessible via two points of ingress/egress. The Property’s pylon signage is visible to over 86,500 vehicles per day commuting on US-90. The Property is zoned C2/General Commercial and offers favorable flexible zoning. Additionally, there may be an opportunity to convert the building to multifamily or workforce housing. Harvey is a suburb of New Orleans, located on the west bank of the Mississippi River and is about ±10 minutes from Downtown New Orleans. The Travelodge by Wyndham New Orleans West is within a ±15-minute drive of the Port of New Orleans and just ±25-minutes from Louis Armstrong New Orleans International Airport (MSY). The Property benefits from an array of nearby corporate demand generators including: the Harvey Canal (home to ±2,000 acres of heavy and light industrial properties), Bollinger Shipyards, Inc., Phillips 66 Refinery, Naval Air Station New Orleans, West Jefferson Medical Center, and TPC New Orleans. The Hotel is also strategically positioned 15-minutes from several leisure demand drivers including the Ernest N. Morial Convention Center, Louisiana Super Dome, New Orleans Arena, French Quarter, Jackson Square, Bourbon Street, Canal Street and Both Harrah’s New Orleans Casino and Boomtown New Orleans Casino. The Property offers excellent accessibility to the greater area and is strategically located in a densely populated area that serves ±328,890 individuals with an average household income of ±$88,569 within a five mile radius.
Exclusively Listed By
