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Prime restaurant opportunity adjacent to LSU Campus – Rare find – Stand alone building with 47 on-site parking spaces. Owner has gutted the interior, with plans to deliver a vanilla box with a new roof and new HVAC. Parking lot repairs have been completed.
Over 6,500 students live on campus, 6,000 faculty on campus, and over 2,000 off campus beds located approx 1 mile from site [see attached flyer]
This site is a former Mr. Gatti's Pizza located at the North Gates of LSU, at the intersection of W. Chimes St. and Lake St. Also adjacent to the Student Health Center. Lease rate negotiable based on Tenant Improvements. Currently zoned C1. Owner will rezone to C-AB-1, but will not rezone to C-AB-2. NNN Expenses estimated at $2.86/FT. - Area description: Located at the foot of the North Gates of LSU. Prime Restaurant Opportunity. Thousands of beds located in half mile radius - Number of buildings: 1 - Building condition: Average - Tenancy: Single Tenant
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On average, listings lease in the $30's per square foot per year. The Highlands-Perkins submarket is going through a decline in rates. In the last 3 months, the median rate fell $9 per sqft per year. That's a 22% decline in rent.
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