A 30,000-square-foot parcel at the corner of South Acadian Thruway and Broussard Street is back on the market for $28 per square foot, or about $840,000.
Owner Jeff Cobb—whose import auto shop, Jeff Cobb Auto Works, is located on the property at 1316 S. Acadian Thruway—says he doesn’t plan to close his business when he sells the property. Rather, he hopes to move it to an adjoining parcel, where he intends to build a new office and garage.
For several years Cobb tried to sell the parcel to his nearby neighbor, St. Joseph’s Academy, which needed additional land for student parking. But the school backed out of a purchase agreement last year for a variety of reasons and has since acquired other property in the neighborhood for parking.
Cobb says he decided to try to sell the parcel on the open market when the deal fell through. He’s selling it by owner. So far, he has fielded dozens of calls but isn’t getting any firm offers.
Local appraiser Wesley Moore says Cobb’s asking price is high. Though the corner lot at the nearby intersection of South Acadian and Perkins Road commanded some $35 per square foot last year, that corner has a lot more traffic than does Cobb’s.
“It’s a good location,” Moore says. “But you just don’t have that much cross traffic coming from Broussard.”