Bank-Owned | Hotel Rebrand or Adaptive Reuse 1801 W Pinhook Rd

Tours will be held March 6th and 7th, then again on March 11th and 12th. Please contact Tom French to schedule an appointment at 404-876-1640 x147.
Bull Realty is pleased to offer the opportunity to acquire a fee simple interest in the bank-owned former 290-key Wyndham Garden hotel at 1801 W Pinhook Road in Lafayette, Louisiana. Located off Highway 90, the property is surrounded by diverse demand generators, including the Lafayette Regional Airport, the University of Louisiana Lafayette, and downtown Lafayette. This exceptional property is being offered unencumbered of management or debt.

The former hotel underwent a multimillion-dollar interior demolition in 2021, leaving the systems and support walls intact. Current zoning (CM – commercial heavy) allows for a wide range of multiple or mixed uses. If a buyer decides to reopen as a hotel, there is preliminary interest from three hotel franchisers (Hilton, Wyndham, and Choice) in this redevelopment project, with each determining brand availability and corresponding PIPs. If a developer moves forward with the multifamily option, the larger-than-average room sizes of the property (~350 square feet) provide them the flexibility for a workforce housing conversion or market-rate apartment conversion. The area is a hotspot for a potential workforce housing project, sitting within 10 minutes of the area’s largest employers, including the Ochsner Lafayette General Medical Center, the University of Louisiana Lafayette, and the Lafayette Parish School System.

1801 W Pinhook Road’s location 1.5 miles from the University of Louisiana Lafayette also makes it suitable for a student housing conversion. The university is undersupplied with student housing, as there are 2.9 students to every student housing bed, well above the 1.34 average among the 20 largest college markets.

The property has a large amount of indoor public space and parking lot space. The current configuration of the indoor public space has two retail spaces (±2,600 square feet and ±3,500 square feet) with parking lot entrances. While the property was an operational hotel, 13,000 square footage was used for meeting space. The hotel has enough parking spaces (350) to convert some of the parking at the front of the lot near the street entrance into a retail pad.

Lafayette continues to experience modest post-pandemic 1% population annual growth. The city’s growth is fueled by an increasing set of colleges, a unique culture – named the happiest city in the US by the Bureau of Economic Research – attracting work-from-home employees, and a business-friendly environment that continues to attract new businesses, such as First Solar’s $1.1 billion Broussard Solar Plant and other tech-related businesses.

Construction in Lafayette allows developers to capitalize on inexpensive labor rates. According to the May 2023 National Occupational Employment and Wage Estimates released in April 2024 by the Bureau of Labor Statistics, construction laborers’ median pay is 7% less than the statewide average and 19% less than the US average.

With 1801 W Pinhook Road’s diverse zoning, varied demand generators, solid economic outlook, and current blank-slate state, developers have a wide array of financially, technically, and legally feasible uses to pursue in a strong real estate market.

Listed by Michael Bull with Bull Realty, Inc., LA License #0995682801i