Metairie, Louisiana Vacant Lot - Land Lease Option

[Jordan Decuir]

My family owns a small vacant lot in a relatively-desirable area of Metairie, LA (New Orleans suburb), in Bucktown to be exact...I would like to get some feedback from the BP community around potentially trying to do a land lease on this property whereby we grant a developer the right to lease the land, develop an investment property on the land (presumably a duplex or triplex, given its location and size), operate that investment property over a long period of time and pay us scheduled rent over a significantly-long period of time. Is this common/feasible in Louisiana and the Metairie/New Orleans area? How would this be structured? I recognize there is the option for us to develop it ourselves, but I would like to explore the idea of quickly/"easily" monetizing this asset with some sort of land lease if possible.