7920 US Highway 51 N - Hospitality FOR SALE


Millington, TN 38053
$1,250,000 USD
480-766-6014
7920 US Highway 51 N, Millington, TN for Sale
$1,250,000 USD
Hospitality - FOR SALE
1/7
null | Request Cap Rate

7920 US Highway 51 N
Millington, TN 38053


HIGHLIGHTS

  • Located north of Downtown Memphis
  • Opportunity to redevelop land or convert to apartments
  • Ideal investment for first time buyer, owner- operator
  • Ability to open all 48 rooms to increase revenue

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$83 USD /SF

# OF ROOMS

32

PRICE/ROOM

$39,063 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Millington Inn

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1950

PARKING SPACES

50

LAND DETAILS

LAND ACRES

1.57 AC

LAND SF

68,389 SF

ZONING

B-2

APN/PARCEL ID

M0-115I-D0-0002

ASK ABOUT THIS PROPERTY

Kishan GohelNewGen AdvisoryMore Info
480-766-6014

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Kishan GohelNewGen AdvisoryMore Info
480-766-6014

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.