6141 Poplar Pike | Memphis, TN 38119
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6141 Poplar Pike
Memphis, TN 38119
Sonesta Simply Suites Memphis East Poplar · Hospitality Property For Sale
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57,963 SF
Investment Highlights
- Fee-simple interest in the institutionally-owned and third-party managed 105-room Simply Suites Memphis E Poplar Pike offered below replacement costs.
- Hotel is operating at ~85% occupancy with in-place yield making the hotel readily financeable.
- Strong operational upside in adjusting the business mix and pushing ADR with current T12 occupancy of ~85%.
- Offered unencumbered of management, debt, and providing prospective buyers with an opportunity for alternative use pending zoning approval.
- Ownership has recently invested ~500K / 4.7K per key into the property including renovations to the roof.
- Direct access to Poplar Ave (US 72) in proximity to I-240 – one of the most heavily trafficked interstate corridors in TN with upwards of 130,000 VPD.
Property Facts
| Sale Condition | Auction Sale | No. Stories | 4 |
| Type of Ownership | Fee Simple | Year Built/Renovated | 1986/2023 |
| Property Type | Hospitality | Tenancy | Single |
| Property Subtype | Hotel | Parking Ratio | 1.81/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 2.40 AC | Parcel Number | 08-1007-0-0003 |
| Building Size | 57,963 SF | ||
| Zoning | OG - Office General | ||
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 2.40 AC |
| Building Size | 57,963 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1986/2023 |
| Tenancy | Single |
| Parking Ratio | 1.81/1,000 SF |
| Corridor | Interior |
| Zoning | OG - Office General |
| Parcel Number | 08-1007-0-0003 |
Amenities
- Balcony
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
- Fully-Equipped Kitchen
- Multi-Room Suites
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