1471 E Brooks Rd - Hospitality FOR SALE
Memphis, TN 38116 |
1471 E Brooks Rd
Memphis, TN 38116
HIGHLIGHTS
- 6,000 sq. ft. leasable restaurant spaces, fully equipped, with income potential of $1.5M to $2M annually.
- Seller spent +/- $1.8M in capital improvements over the last 5 years.
- Yield of 246 studio units or a buyer’s desired unit mix.
- Potential to also convert Property to a 55+ living facility or senior living community.
- Excess land for retail pad +/- 35,000 sq. ft.
- Adaptive reuse cost estimate - $10,000-$15,000 per unit.
FOR SALE DETAILS
PRICE
-
# OF ROOMS
-
CAP RATE
-
BUILDING DETAILS
PROPERTY NAME
Travelodge Memphis - Multi-Family Conversion
PROPERTY TYPE
Hospitality
TOTAL BUILDING SIZE
185100
STORIES
4
ROOM ENTRANCE
Interior
BUILDING CLASS
C
YEAR BUILT
1972
PARKING SPACES
310
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
EMP
APN/PARCEL ID
07-8003-A0-0053C
