Prime Business Location with Small Frontage

[John Toerner]

I own a lot on Gause Blvd. in Slidell, LA which measures 30 x 280.  The lot has about 20 parking spaces on it and is being used by a restaurant that shares the driveway with it.  The restaurant is in an old Wendy's which was closed over 10 years ago.  Wendy's used to pay rent for the parking spaces but the new restaurant has not been paying rent.  On the other side of the property is a gas station with ample space between my lot and the gas pumps.

The old Wendy's sign is still on the property in front of the parking spaces on a grassy area. The City has told me that the sign has been scheduled to be removed and that they will not allow any new signage on the road. If I could keep the sign and rent it out for advertisement, that would be of great value.

I have just acquired the lot and I am trying to figure out what to do with this property.  I could try to get the owner of the restaurant to lease the parking spaces but wanted to first explore other possible options.  I wanted to see if anyone has any suggestions.  Thanks.