What to do with commercial and residential lots in Shreveport LA

[Julia Stroud]

Hi everyone! I'm looking for some guidance on my first steps in this rehab project. My father owns some residential and commercial properties (mostly unused land) in Shreveport, LA ("North Shreveport") that we are trying to figure out what to do with. The lots are all adjacent to each other in an industrial area of the city, technically part of downtown and very close to attractions like The Boardwalk, SciPort etc (~5 min drive). The residential lots were some of the last in that area before the city stopped allowing them, so they are surrounded by industrial and businesses and just a few other small houses.
A few details to note:

• 3 commercial lots totalling around 16,000 sqft with several buildings that would need full rehab or maybe tear them down and start over
• 3 residential lots ~5600 sqft each with no buildings on them
• Look up 922 Charlotte St, Shreveport, LA 71107 if you want to see the area

We are trying to figure out if we should put housing up on the residential lots, maybe for short term rentals, or try to get them rezoned. They are in a good location in terms of commute to attractions, restaurants, and retail, but are not in a "neighborhood". And what we should turn the commercial lots into, or just rent the land, or put a business there (self storage, maybe?).

I've never done anything like this (with commercial, or in this type of industrial area), so I'm wondering 1) if anyone has ideas or advice on what they would do in this situation, and 2) who should I connect with to further inspect them and make decisions (I'm thinking commercial brokers or property managers)?

I'm happy to provide more details if needed - just let me know.

Thank you!

Julia

[Greg Dickerson]

Originally posted by @Julia Stroud:

Hi everyone! I'm looking for some guidance on my first steps in this rehab project. My father owns some residential and commercial properties (mostly unused land) in Shreveport, LA ("North Shreveport") that we are trying to figure out what to do with. The lots are all adjacent to each other in an industrial area of the city, technically part of downtown and very close to attractions like The Boardwalk, SciPort etc (~5 min drive). The residential lots were some of the last in that area before the city stopped allowing them, so they are surrounded by industrial and businesses and just a few other small houses.
A few details to note:

• 3 commercial lots totalling around 16,000 sqft with several buildings that would need full rehab or maybe tear them down and start over
• 3 residential lots ~5600 sqft each with no buildings on them
• Look up 922 Charlotte St, Shreveport, LA 71107 if you want to see the area

We are trying to figure out if we should put housing up on the residential lots, maybe for short term rentals, or try to get them rezoned. They are in a good location in terms of commute to attractions, restaurants, and retail, but are not in a "neighborhood". And what we should turn the commercial lots into, or just rent the land, or put a business there (self storage, maybe?).

I've never done anything like this (with commercial, or in this type of industrial area), so I'm wondering 1) if anyone has ideas or advice on what they would do in this situation, and 2) who should I connect with to further inspect them and make decisions (I'm thinking commercial brokers or property managers)?

I'm happy to provide more details if needed - just let me know.

Thank you!

Julia

You want to determine highest and best use. You can do the by talking to local commercial brokers in the area, commercial property management companies, developers or you could hire a commercial appraiser to do an analysis for you.