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Millington Inn 7920 US Highway 51 N 32 Room Hotel Millington, TN 38053 $1,250,000 ($39,063/Room)
Investment Highlights
- Located north of Downtown Memphis
- Ideal investment for first time buyer, owner- operator
- Opportunity to redevelop land or convert to apartments
- Ability to open all 48 rooms to increase revenue
Executive Summary
Kishan Gohel of NewGen Advisory is pleased to
present the sale of the Millington Inn, a 48-room
exterior corridor hotel in Millington, Tennessee,
located just 15 minutes north of Memphis along
US Highway 51. Built in 1950, the property sits on
1.57 acres and features over 22,000 square feet,
including a three-bedroom, two-bath owner’s
quarters attached to the lobby—ideal for an
owner-operator. The property received a new roof
in 2023 as part of recent capital improvements.
The Millington Inn offers a strong value-add
opportunity, with only 25 of the 48 rooms
currently in operation, allowing significant upside
through increased occupancy and improved
management. The property is also positioned to
benefit from the $60 million redevelopment of the
former Memphis International Raceway into
Darana Motorsports Park Millington, located
approximately 7.4 miles away and scheduled to
open October 15–18, 2026, which is expected to
drive increased lodging demand. Combined with
its Opportunity Zone location and proximity to key
demand drivers, the asset presents an attractive
investment for a hands-on buyer.
present the sale of the Millington Inn, a 48-room
exterior corridor hotel in Millington, Tennessee,
located just 15 minutes north of Memphis along
US Highway 51. Built in 1950, the property sits on
1.57 acres and features over 22,000 square feet,
including a three-bedroom, two-bath owner’s
quarters attached to the lobby—ideal for an
owner-operator. The property received a new roof
in 2023 as part of recent capital improvements.
The Millington Inn offers a strong value-add
opportunity, with only 25 of the 48 rooms
currently in operation, allowing significant upside
through increased occupancy and improved
management. The property is also positioned to
benefit from the $60 million redevelopment of the
former Memphis International Raceway into
Darana Motorsports Park Millington, located
approximately 7.4 miles away and scheduled to
open October 15–18, 2026, which is expected to
drive increased lodging demand. Combined with
its Opportunity Zone location and proximity to key
demand drivers, the asset presents an attractive
investment for a hands-on buyer.
Property Facts
| Price | $1,250,000 | Building Size | 15,300 SF |
| Price Per Room | $39,063 | No. Rooms | 32 |
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Hospitality | Year Built/Renovated | 1950/2012 |
| Property Subtype | Hotel | Parking Ratio | 1.09/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 1.57 AC | Opportunity Zone |
Yes
|
| Zoning | B-2 | ||
| Price | $1,250,000 |
| Price Per Room | $39,063 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.57 AC |
| Building Size | 15,300 SF |
| No. Rooms | 32 |
| No. Stories | 1 |
| Year Built/Renovated | 1950/2012 |
| Parking Ratio | 1.09/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
| Zoning | B-2 |
Amenities
- High Speed Internet Access
- Patio
- Public Access Wifi
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 32 | $65.00 | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | M0-115I-D0-0002 | Improvements Assessment | $111,720 |
| Land Assessment | $94,280 | Total Assessment | $206,000 |
Property Taxes
Parcel Number
M0-115I-D0-0002
Land Assessment
$94,280
Improvements Assessment
$111,720
Total Assessment
$206,000
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