400 1St StThibodaux, LA 70301

Property Details for 400 1St St

Lot size

0.23 AC

Property size (Sq ft)

28,428 SF

Property type

Commercial real estate

APN

20494700

APU

20494700

Description

This exceptional 94-key hotel, situated on a 3.2-acre lot in Thibodaux, Louisiana, presents a compelling investment opportunity. Built in 1972, this two-story, solid block construction property boasts an exterior corridor design and is conveniently located less than a mile from Nicholls State University and downtown Thibodaux. Its prime location offers proximity to numerous demand generators, including a new $40 million cancer center, a recently improved $6 million NSU football stadium, a new $770,000 NSU greenhouse, and an $8.1 million Bayou Side Park. Further development includes a new nursing home under construction and the refurbishment of the Bollinger Education Building. The hotel's strategic position also benefits from its proximity to Nicholls State University (with 7,000 students and 73% student retention), Thibodaux Regional Medical Center, and other key amenities. With several national franchise brand conversions available and bank financing options, this property offers significant potential for new owner-operators seeking an extended-stay or long-term hotel conversion. The asking price is $3,500,000. The property's address is 400 E 1st St, Thibodaux, LA 70301. Its location also places it within easy reach of other attractions such as St. Joseph Co-Cathedral, Laurel Valley Village, and Bayou Lafourche, while being approximately 55 miles from New Orleans.

• CAP approach

  CAP return

  Valuation

  6%

  $4,525,680

  6.5%

  $4,177,550

  7%

  $3,879,150

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,168,510

  Geo Method

  $2,020,950

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $8,153,530

  Retail / Commercial

  $4,195,010

  Mixed-Use / Specialty

  $4,191,020

  Hospitality / Lodging

  $3,089,100

  Office

  $4,177,550

  Institutional / Educational

  $4,360,890

  Residential Income

  $5,102,240

  Multifamily

  $6,058,550

  Automotive / Energy

  $3,737,910

  Parking / Income-Based Land

  $1,279,070

  Restaurant / Food Service

  $2,203,190

  Healthcare / Senior Housing

  $4,286,570

Location Insight

City

Thibodaux

County

Lafourche

State

Louisiana

Latitude

29.7977

Longitude

-90.8156

CBSA code

26380

CBSA name

HOUMA-BAYOU CANE-THIBODAUX, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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