6101 Shelby Oaks Drive, Memphis, TN, 38134 - Available for Sale

Hotel & Motel For Sale

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6101 Shelby Oaks Drive, Memphis, TN 38134

$2,700,000

175 Rooms | Hotel & Motel

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Hotel / Motel For Sale - In Contract

Price:
$2,700,000
No. Rooms:
175
Building Size:
93,378 SF
Price/Room:
$15,428.57
Property Type:
Hotel & Motel
Property Sub-type:
Full Service
Property Use Type:
Investment
Average Daily Rate:
$49
No. Stories:
4
Year Built:
1975
Corridor:
Interior
Lot Size:
4.90 AC
Listing ID
16961098
Last Updated
22 days ago

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Utilities

Highlights

  • 175 rooms @ less than 17K per room
  • Motivated Sellers, bring offers
  • Looking for quick close
  • Over 2 million in renovations/repositioned
  • Priced significantly below appraisal completed in March 2010
  • Flags Available are Best Western Primier, Clarion, & Wyndham

Description

Renovated in 2008-2009 four story concrete and steel two wing hotel with interior corridor and full service restaurant & bar. Renovations exceeded 2 million for property. Hotel also includes a business center, meeting rooms to accommodate up to 312 persons, an executive board room, spacious Lobby, Wi-Fi throughout,and large Common area near indoor pool and jacuzzi. Total revenue up for 2013 over 2012. Significant price decrease to move property quickly. Clarion flag no longer under contract. Appraised in March of 2010 for $5.25M. Current lender may approve new capable buyer for financing with 20% down. Flag options include Clarion, Wyndham, And Best Western Premier.

Situated on 4.9 +/- acres with parking for 200 +/- vehicles. Sign and Hotel are visable from I-40 interstate. Located near industrial park containing Pfizer, Servicemaster, and other companies. Next to Cracker Barrel Restaurant. Possibility of additional revenue stream from billboard lease.

Financial Summary

  • Actual
  • 2012
  • $763,606

Map of 6101 Shelby Oaks Drive, Memphis, TN 38134 (Shelby County)

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Created 12/27/2010
Priced to sell, motivated sellers, bring offers
  • Hotel & Motel
  • $2,700,000
  • 175 Rooms
  • 93,378 SF