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Started By
Message
Undeveloped Land on E. Lakeshore Drive
Posted on 7/26/09 at 11:50 pm
Posted on 7/26/09 at 11:50 pm
First, I must confess that, although I read this board frequently, I usually only post on O-T and Food and Drink. However, I now need your sound advice...
What do you think is a fair price for a half acre of cleared land on E. Lakeshore drive with an unobstructed view of the lakes, clock tower, and tiger stadium in walking distance of LSU?
I'm not asking you to find me an online listing for such a lot. I'd really like to know what you all think this is worth since cleared, undeveloped land on the lakes is a rarity providing few available legitimate comparisons.
Thanks in advance...
What do you think is a fair price for a half acre of cleared land on E. Lakeshore drive with an unobstructed view of the lakes, clock tower, and tiger stadium in walking distance of LSU?
I'm not asking you to find me an online listing for such a lot. I'd really like to know what you all think this is worth since cleared, undeveloped land on the lakes is a rarity providing few available legitimate comparisons.
Thanks in advance...
2
Posted on 7/26/09 at 11:52 pm to LSUTigerDoc
The small size of the lot has to hurt it's value, IMO.
However, I'm no real estate guy.
However, I'm no real estate guy.
Posted on 7/27/09 at 7:10 am to LSUTigerDoc
Well, it's been about 10 years ago but someone bought a really trashy house on a large lot on East Lakeshore. They scraped the house off and sold the land as 2 lots for $300,000 each. Those lots were no more than 3/4 acre. With appreciation over the ten years I'd guess you're looking at $300,000 or more for 1/2 acre on East Lakeshore. Also, I recently saw a decent house on East Lakeshore that is for sale for just over a million. The lot is probably a bit over an acre and if you were to subtract the house at $110/ft2 and then divide by 2 you come up with something around $350,000 so I think that is a reasonable WAG.
I used to live just off of the lakes; great place to live.
I used to live just off of the lakes; great place to live.
Posted on 7/27/09 at 7:50 am to Tigris
I asked a guy who has a tear down worthy house on one of the smaller lakes. I was expecting mid $300s he was looking for $500,000.
Posted on 7/27/09 at 2:53 pm to Camp Randall
Thanks so much for your opinions.
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