Hooper Road Multifamily Development Tract

Vacant Land for Sale
Also listed as Multi-Family
Catylist Listing ID: 30415378
Property Subtypes: Multi-Family
Building Status: Proposed
Gross Land Area: 11.55 Acres
Sale Price: $875,000
Unit Price: $75,757 Per Acre
In Opportunity Zone? Yes
Sale Terms: Undisclosed, Build-to-Suit
Cap Rate: Undisclosed
Last Updated: 7/13/2020

Overview / Comments

The subject property is +/- 11.55-acre vacant tract of land zoned C-2. The site is approximately 2.2 miles away from the Baton Rouge Metropolitan Airport. The subject's highest and best use is a multifamily development tract because of the property's zoning (C-2 allows 29 multifamily units per acre), its proximity to the airport and other North Baton Rouge job providers. Also, the property is located in an Opportunity Zone and QCT providing excellent tax incentives for economic development.

11.55-Acre Multifamily Tract
2.2 Miles From Baton Rouge Metropolitan Airport
Site Allows for up to 319 Units
Located in an Opportunity Zone & QCT

Additional Details

Nearest MSA: Baton Rouge
County: East Baton Rouge
Submarket/Township: 22
Zoning: C2
Property Located Between: Located near the Baton Rouge Metropolitan Airport
Area Description: The subject property is located on Hooper Road near the Plank Road intersection in Baton Rouge, LA. The Harding Boulevard-Plank Road corridor is a major east-west corridor that traverses the northern part of the city. This corridor connects U.S. Highway 61 on the western side of the parish with LA Highway 37 on the eastern side of the parish. Additionally, this corridor links the City of Central to I-110. The subject is located 2.5 miles from the Baton Rouge Metropolitan Airport (BTR). BTR employs approximately 4,500 people and has preliminary plans to expand across Plank Road. Located within nine miles and 20 minutes of the Baton Rouge Central Business District this tract is well positioned within the Baton Rouge MSA. The major job providers in the immediate vicinity of the subject property include the Exxon-Mobil Refinery, Southern University, the Baton Rouge Metropolitan Airport, Exxon-Mobil Chemical and the LSU Health Baton Rouge North Walk-In Clinic. Glen Oaks Park Elementary School, Glen Oaks Middle School and Glen Oaks High School are also located in the immediate vicinity.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,339 64,033 140,279
Median Age: 31.87 31.58 33.37
Households: 2,197 21,108 50,084
The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.