Owner Financing 102 Units: Cleveland TN 2 Hospitality Properties Offered at $5,950,000 in Cleveland, TN
INVESTMENT HIGHLIGHTS
- Excellent property for Work Force Apartments/ Affordable Housing/ Independent Living Apartments Restaurant operating on campus
EXECUTIVE SUMMARY
OWNER FINANCING AVAILABLE:
This 102-unit Dual-Flag property is located on the main exit from I-75 to downtown Cleveland Tennessee.
Out of the 102 units 53 units operate as the Rodeway Inn.
49 units have kitchenettes and operate as Suburban Suites.
We have a quote to complete all of the remaining units to have kitchenettes.
Totally Renovated in 2023.
Roof is TPO replaced 2019 Building 2 and 3
Roof is metal replaced 2019 on Building 1
Property sits on 2.8 level acres
Built in 1969 - Masonry construction– non-combustible.
Zoned commercial
Building One –
• Lobby and offices
• Full-Service Restaurant - Seats 90
• Full-Service Commercial Kitchen
• Two Meeting Rooms on second floor with Service Bar
• Restaurant is Leased at $4,500/Month
Building Two –
• 40 units are 12 X 25
• 10 units are 12 X 20
• Plus, one three-room apartment
• All new electrical outlets, switches and LED lighting
• Second floor includes two – two-room apartments
• Upstairs apartments have a back door
Building Three –
• 49 all newly renovated units
• ALL ROOMS ARE KITCHETTES
• 9 units are 12 X 20 with connector doors
• 38 units are 12 X 25
• One unit is an up and downstairs apartment
• One unit is a vending/laundry room
• All new electrical outlets, switches and LED lighting
This 102-unit Dual-Flag property is located on the main exit from I-75 to downtown Cleveland Tennessee.
Out of the 102 units 53 units operate as the Rodeway Inn.
49 units have kitchenettes and operate as Suburban Suites.
We have a quote to complete all of the remaining units to have kitchenettes.
Totally Renovated in 2023.
Roof is TPO replaced 2019 Building 2 and 3
Roof is metal replaced 2019 on Building 1
Property sits on 2.8 level acres
Built in 1969 - Masonry construction– non-combustible.
Zoned commercial
Building One –
• Lobby and offices
• Full-Service Restaurant - Seats 90
• Full-Service Commercial Kitchen
• Two Meeting Rooms on second floor with Service Bar
• Restaurant is Leased at $4,500/Month
Building Two –
• 40 units are 12 X 25
• 10 units are 12 X 20
• Plus, one three-room apartment
• All new electrical outlets, switches and LED lighting
• Second floor includes two – two-room apartments
• Upstairs apartments have a back door
Building Three –
• 49 all newly renovated units
• ALL ROOMS ARE KITCHETTES
• 9 units are 12 X 20 with connector doors
• 38 units are 12 X 25
• One unit is an up and downstairs apartment
• One unit is a vending/laundry room
• All new electrical outlets, switches and LED lighting
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
PROPERTY FACTS
| Price | $5,950,000 |
| Price / SF | $131.38 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 45,290 SF |
| Total Land Area | 5.60 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Suburban Studios Cleveland TN I-75
2595 Georgetown Rd, Cleveland, TN 37311 |
Hospitality | 22,645 SF | 2023 | - |
|
Rodeway Inn Cleveland TN I-75
2595 Georgetown Rd, Cleveland, TN 37311 |
Hospitality | 22,645 SF | 1968 | - |
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