LodgingIndex - Property for Sale in Tennessee
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Location: Western TN
Number of Units: 200
Year Constructed: 1972
# of Stories: 4
Chain Affiliated ? : Yes
Cost to Transfer Franchise: Zero/No Charge
Brand/TripAdvisor Rating : 3 / 5
$ 6,950,000now $ 5,450,000
Gross Rooms Revenue: $ 2,100,000
Gross F&B Revenue: See Below
Other Revenue: N/A
Annual Property Taxes: $ 26,655
Annual Insurance Costs: $ 26,924
Seller/Private Financing Available ?: No
Other Information: This historic, full service franchised property is located in Western Tennessee, convenient to 2 busy interstates, the nearby International Airport, Downtown and other leisure/corporate demand generators. The hotel features 240 total guestrooms (200 of which currently in operation) on 4 stories, serviced by 3 elevators. The hotel has 5000 SF of conference space, a restaurant, another restaurant/music club (including a stage!) with its own separate entrance, and a lobby bar. Note: The restaurants etc. are currently NOT in operation; the potential for future, significant food & beverage/events space revenue is at hand! Or, this single-story F&B space could be razed, yielding enough land for another separate, ground-up hotel development!Recent Renovations Include:
The hotel also features a business center, an outdoor pool with a seasonal pool bar, a fitness center and a guest coin-laundry. There's also an expansive parking area, large enough for a full house AND tour bus/truck parking. A .75 acre developable adjacent lot is included, perfect for a small restaurant/eatery etc. There is a "zero-out-of-pocket" grant in place for the installation of a 100KW solar panel system, that would significantly reduce energy costs going forward. In summary, this is a UNIQUE opportunity to acquire a property of this caliber and potential, for less than $30K per key!
Updated Guestroom Casegoods
New Carpet in Hallways
New Guestroom PTACs and Energy-Saving Thermostats
(5) New Rooftop AC Units for Common Areas
New Hot-Water Boiler
New Parking Lot Striping and new LED Parking Area Lighting
Interested in this property?If you would like to obtain more information about this property-for-sale, please submit an inquiry below. Upon receipt of this, the property owner will be notified of your inquiry, and you will receive a subsequent email, sent to the Email address you specify below, from LodgingIndex regarding this property. Thereafter, discussions can start directly between you and the property owner. In order to receive additional information, please make sure that you complete the form below and include an accurate, valid EMail address! By submitting the form below, the inquirer agrees that all subsequent information obtained as a result of this inquiry is strictly confidential and is not to be disclosed to or shared with any outside parties. Please refer any additional interested purchasers directly to www.lodgingindex.com. Submit your inquiry here:
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