1471 E Brooks Rd | Memphis, TN 38116
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- LoopNet Team
1471 E Brooks Rd
Memphis, TN 38116
Travelodge Memphis - Multi-Family Conversion · Hospitality Property For Sale
·
185,100 SF
INVESTMENT HIGHLIGHTS
- 6,000 sq. ft. leasable restaurant spaces, fully equipped, with income potential of $1.5M to $2M annually.
- Yield of 246 studio units or a buyer’s desired unit mix.
- Excess land for retail pad +/- 35,000 sq. ft.
- Seller spent +/- $1.8M in capital improvements over the last 5 years.
- Potential to also convert Property to a 55+ living facility or senior living community.
- Adaptive reuse cost estimate - $10,000-$15,000 per unit.
PROPERTY FACTS
| Property Type | Hospitality | No. Stories | 4 |
| Property Subtype | Hotel | Year Built/Renovated | 1972/2018 |
| Building Class | C | Tenancy | Single |
| Lot Size | 5.50 AC | Parking Ratio | 1.67/1,000 SF |
| Building Size | 185,100 SF | Corridor | Interior |
| Zoning | EMP - Employment District - with variance granted to convert hotel to multi-family units in January 2022. | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 5.50 AC |
| Building Size | 185,100 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1972/2018 |
| Tenancy | Single |
| Parking Ratio | 1.67/1,000 SF |
| Corridor | Interior |
| Zoning | EMP - Employment District - with variance granted to convert hotel to multi-family units in January 2022. |
AMENITIES
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
PROPERTY TAXES
| Parcel Number | 07-8003-A0-0053C | Improvements Assessment | $862,240 |
| Land Assessment | $402,600 | Total Assessment | $1,264,840 |
PROPERTY TAXES
Parcel Number
07-8003-A0-0053C
Land Assessment
$402,600
Improvements Assessment
$862,240
Total Assessment
$1,264,840
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