Current Cap Rate at 8%!
$1M In sales in 2019! The property was closed for half the year in 2020 because of Covid. 2021 sales picked back up to $905,000!
Property Highlights:
Rooms: 71
Occupancy Rate: 54.64%
ADR: $60.66
2019 Revenue: $1M
2019 Net Profit: $300,000
2021 Revenue: $905,000!
Property is being run on an extremely high payroll at over $317,000! For a well-run property, payroll should not be more than 22% of Revenue. That means an Owner-Operator can save approximately an additional $100,000 in excess payroll saved not counting the Owner-Operator's personal payroll!
Buyer does not need to pay any franchise royalties!
Interstate-69 is being expanded to Union City, TN! Huge influx of traffic will dramatically increase sales! This Property will become an interstate exit property!
2 hours from Memphis,TN! 2h 45min from Nashville, TN!
Near to the University of Tennesee Martin campus! Museum and Heritage Park with Masquerade Theatre and Baptist Memorial Hospital. Also near to Three Rivers Wildlife Management area and White Squirrel winery and vineyard, and a state park with significant lake tourism.
Asking Price for the Property: $3.7M.
Motel Property in Union City, TN! Interstate Expanding to Town! No Franchise Royalties! Cap Rate at 8%
If interested, please give us a call anytime at (770) 664-9999 or email your full name and best contact number to info@riverbrokers.com
