Value-Add Industrial Minutes From US Hwy 90

Bracket Real Estate, in tandem with Ten-X, is pleased to offer an industrial value-add, located at 3701 Avery Island Road, totaling 80,424 square feet and encompassing three warehouse structures constructed on 4.23 acres. The offering also includes two large undeveloped parcels of land located on each side of the industrial asset. The parcel to the left, when facing the buildings, totals 3.04 acres and offers a point of access on Avery Island Road. The parcel to the right, when facing the buildings, totals 4.21 acres and provides its own point of access. The developed parcel and the 3.04-acre parcel are both industrially zoned with a zoning code of I-1 (light industrial). The 4.23-acre parcel is zoned A-1 (low-density single-family residential development) and can be rezoned to fit future developmental needs. Please see the Iberia Parish zoning information link below. 3701 Avery Island Road boasts advantageous proximity to major retailers, demand drivers, and travel arteries, including US Highway 90 and State Route 14. The area is also home to a viable potential employee and economic pool; over 120 goods-producing businesses with nearly 2,300 employees are located within a three-mile radius of the property. The property is next door to Dollar General and is located near many national retailers, services, and food purveyors, including Tractor Supply, Lowe's, Enterprise, Waffle House, Chili's, and more. Acadian Regional Airport (KARA) lies less than 10 miles from the property.

New Iberia is located in the Lafayette industrial market. The market's vacancy rate is currently 2.9%, a 0.5% decrease over the past 12 months. Comparatively, market rents are around $9.60 per square foot, a 5.5% increase from a year ago. Employment growth has also continued to stimulate the market. In the past year, the number of jobs has increased by 0.9%. While the Lafayette market is smaller than most national markets, the current economic climate stands to foster worthy investments throughout the region. Listed by Jennifer Stein with Jennifer Stein Real Estate, LA license #BROK.995688204-ACT.