Property Overview
Prime Memorial Drive commercial frontage in Alexandria, LA's most active retail trade area.
This 5.74± acre commercial tract sits on Memorial Drive in Alexandria, Louisiana, immediately behind the Target store and within an established retail trade area that draws customers from across Central Louisiana. The property is adjacent to Christus St. Frances Cabrini Hospital, one of the region's largest medical employers, and is within walking distance of Walmart, Boot Barn, Alexandria Mall, and a deep mix of national and regional retailers. Memorial Drive frontage, signalized intersection access, and a near-flat, cleared building site make this one of the most development-ready commercial parcels currently available in Rapides Parish.
The property is being offered through a sealed bid auction. Sealed bids must be received by Bonnette Auction Company no later than 2:00 PM Central on Thursday, June 11, 2026. All bids are subject to the Seller's acceptance or rejection.
Location & Trade Area
The center of Alexandria, Louisiana's regional shopping & medical district.
Alexandria is the parish seat of Rapides Parish and the commercial hub of Central Louisiana, serving a regional trade area of more than 300,000 residents across nine surrounding parishes. Memorial Drive functions as the primary east-west connector between North MacArthur Drive (US-71/US-165) and North Boulevard, linking Alexandria Mall, Target, Walmart, Boot Barn, JCPenney, Belk, and dozens of national retailers with the Christus St. Frances Cabrini Hospital campus and surrounding medical office submarket.
Notable neighbors and demand drivers
Direct neighbors and surrounding businesses include Target, Walmart, Boot Barn, Alexandria Mall, Christus St. Frances Cabrini Hospital, Saints Land Catholic Church, JCPenney, Bath & Body Works, Buckle, GNC, and a steady mix of restaurants and service retailers. The combination of daily-needs retail, regional shopping, and major medical traffic produces consistent traffic counts and 7-day-a-week demand — the kind of intersection where pad-ready acreage rarely comes to market.
Likely highest and best uses
The size, frontage, and visibility of this 5.74± acre tract support a wide range of commercial uses: multi-tenant retail strip centers, freestanding national tenants, quick-service and casual restaurants, medical office buildings, dental and specialty clinics, urgent care, hotel/extended-stay hospitality, climate-controlled self-storage, or a mixed-use combination of any of the above.
Property Specifications
| Address | Memorial Drive, Alexandria, LA 71301 (directly behind Target) |
|---|---|
| Parish | Rapides Parish, Louisiana |
| Acreage | 5.74± acres |
| Frontage | Memorial Drive — signalized intersection |
| Topography | Generally level, cleared, grass-covered, build-ready |
| Zoning | Commercial — buyer to verify with City of Alexandria Planning |
| Utilities | City water, sewer, electric, gas available to site (buyer to verify) |
| Adjacent Anchors | Target, Christus St. Frances Cabrini Hospital, Walmart, Alexandria Mall |
| Sale Type | Sealed Bid Land Auction |
| Auction Format | Sealed Bid — Bids Subject to Seller Acceptance |
| Sealed Bid Deadline | Thursday, June 11, 2026 at 2:00 PM Central Time |
| Bid Submission | Email completed Sealed Bid Submission Form to info@bonnetteauctions.com |
Auction Terms & How to Submit a Sealed Bid
A summary of the Sealed Bid Auction Terms. The Sealed Bid Packet and Purchase Contract documents govern the sale and supersede this summary.
How to submit a bid
Step 1 — View the Sealed Bid Packet: Scroll to the bottom of this page and enter your email address in the document request form. You will be granted access to the Sealed Bid Auction Terms and the Sealed Bid Submission Form.
Step 2 — Submit your bid: Complete and sign the Sealed Bid Submission Form and email it to info@bonnetteauctions.com so that it is received by Bonnette Auction Company no later than 2:00 PM Central on Thursday, June 11, 2026. Once submitted, bids may not be retracted.
Procedure
The property will be offered via a sealed bid auction with bidding procedures more specifically outlined in the Sealed Bid Packet. Final bids are subject to the Seller's acceptance or rejection. Bonnette Auction Company will notify bidders once the Seller has made a decision.
Buyer's premium
The purchase price will be the bid amount plus a 10% buyer's premium. The buyer's premium, together with the final bid amount, constitutes the total contract purchase price.
Down payment & balance
A 10% non-refundable earnest money deposit is due by 4:00 PM Central on the next business day following the bid deadline. Earnest money may be paid by cashier's check, personal check, or corporate check. The balance of the purchase price is due in cash, certified or immediately available funds at closing.
Financing
Bidding is NOT conditional upon financing. Bidders must have financing arranged in advance, if needed, or be capable of paying cash at closing. We strongly recommend that bidders complete lender approval prior to submitting a sealed bid.
Purchase contract
With the submission of a bid, each bidder is required to sign the purchase contract documents in the forms provided in the Sealed Bid Packet. All statements and information in marketing materials are subject to the terms and conditions of the purchase contract documents. The Seller is not bound by any statement, promise, or inducement that is not contained in the purchase contract documents.
Title, deed & closing
The Seller will provide an owner's title insurance policy in the amount of the purchase price. The property will be conveyed by the appropriate deed. Possession transfers at closing. Closing will take place 30 days after the auction (or as soon thereafter as the applicable closing documents are completed by the Seller). 2026 real estate taxes will be prorated to the date of closing.
Property inspection & due diligence
Each potential bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries, and due diligence concerning the property prior to submitting a sealed bid. The property is open and viewable from Memorial Drive at any time. Private walk-throughs and onsite meetings can be scheduled by contacting Bonnette Auction Company directly.
Disclaimer & absence of warranties
All property is offered "AS IS, WHERE IS". No warranty or representation, stated or implied, is made by the Seller or the Auction Company concerning the property. Tract maps, advertised acres, and dimensions are approximations based on existing tax parcel data, legal descriptions, and/or aerial mapping data and are not provided as survey products. Bonnette Auction Company and its representatives are exclusive agents of the Seller. The purchase contract documents will supersede the marketing materials and any other prior statements.
Frequently Asked Questions
Quick answers about the Memorial Drive sealed bid auction in Alexandria, Louisiana.
What is a sealed bid auction and how does it work?
In a sealed bid auction, interested buyers submit their best confidential offer in writing using the official Sealed Bid Submission Form by the published deadline. Bids are not announced publicly. After the deadline, all bids are presented to the Seller, who has the right to accept or reject any bid. The high accepted bidder is notified after the Seller's decision.
How do I submit a sealed bid?
It's a two-step process:
1. Scroll to the bottom of this page and enter your email in the document request form to access the Sealed Bid Packet (Sealed Bid Auction Terms and Sealed Bid Submission Form).
2. Complete and sign the Submission Form and email it to info@bonnetteauctions.com so that it is received before the bid deadline. Once submitted, bids may not be retracted.
Is this auction like a sheriff's sale where I have to pay for everything up front in cash?
No — and this is the single most common misconception we hear. A Bonnette Auction Company sealed bid auction is not a sheriff's sale. The accepted high bidder puts down a 10% non-refundable earnest money deposit, and the balance is paid at closing — typically within 30 days. Closing works just like a traditional real estate transaction.
Can I finance the property, or do I have to pay cash?
Bidding is NOT conditional upon financing. You may finance the purchase, but bidders must have financing fully arranged in advance or be capable of paying cash at closing. There are no financing contingencies — if your bid is accepted, you are obligated to close within 30 days regardless of lender outcome. We strongly recommend obtaining a lender pre-approval before submitting your sealed bid.
What is the buyer's premium and how does it affect the total price?
A 10% buyer's premium is added to the accepted high bid to determine the total contract purchase price. For example, a $1,000,000 bid results in a $1,100,000 total contract price.
When is the earnest money due and how can it be paid?
The 10% non-refundable earnest money deposit is due by 4:00 PM Central on the next business day following the bid deadline. Earnest money may be paid by cashier's check, personal check, or corporate check.
How does closing work after my bid is accepted?
Closing takes place 30 days after the auction (or as soon thereafter as closing documents are completed by the Seller). The balance of the purchase price is due in cash, certified or immediately available funds at closing.
The Seller provides an owner's title insurance policy in the amount of the purchase price, the property is conveyed by appropriate deed, and possession transfers at closing. 2026 real estate taxes are prorated to the date of closing. The process is very similar to a traditional real estate sale — the main difference is that the sale has no inspection or financing contingencies, which is why due diligence should be completed before you submit a bid.
Does the Seller have to accept my bid?
No. Final bids are subject to the Seller's acceptance or rejection. The Seller may accept the highest bid, reject all bids, or counter at their discretion. Bonnette Auction Company will notify bidders once the Seller has made a decision.
What is being sold at this auction?
5.74± acres of commercial development land on Memorial Drive in Alexandria, Louisiana, located directly behind Target and adjacent to Christus St. Frances Cabrini Hospital.
When is the bid deadline?
Sealed bids must be received by Bonnette Auction Company no later than Thursday, June 11, 2026 at 2:00 PM Central Time.
Where exactly is the property located?
The 5.74± acre tract is on Memorial Drive in Alexandria, Louisiana, directly behind the Target store. It is adjacent to Christus St. Frances Cabrini Hospital and within walking distance of Walmart, Boot Barn, and Alexandria Mall.
Can I view the property before submitting a bid?
Yes. The property is open and viewable from Memorial Drive at any time. To schedule a private walk-through or to ask any questions, contact Bonnette Auction Company at info@bonnetteauctions.com.
What zoning is the property and are utilities available?
The tract is in Alexandria's Memorial Drive commercial corridor, with city water, sewer, electric, and gas available to the site. Buyers should verify zoning, permitted uses, setback and signage requirements, and utility capacity directly with the City of Alexandria and the appropriate utility providers prior to submitting a bid.
Property Photos & Aerial Map
Memorial Drive frontage, aerial context, and surrounding retail.
