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7726 US Highway 51 N
Millington, TN 38053 Millington

$2,500,000

Motel For Sale  •  27,926 Sq Ft

Property Details

  • Property Type Motel
  • Total Building Size 27,926 Sq Ft
  • Lot Size 1.28 ac
  • Building Class B
  • Year Built 1983
  • Cap Rate 10.75 %
  • Tenancy Single
  • Zoning B2
0 Transit Score
41 Walk Score

Description

ECONO LODGE
Simplify travel at the Econo Lodge® Millington-Atoka hotel near the Millington Naval Base and the USA Stadium Complex. lt is located off Highway 51 and Interstate 40 near the Memphis International Speedway and Meeman-Shelby Forest State Park. We’re 20 minutes from downtown Memphis and FedEx Forum, plus:
Beale Street
AutoZone Park
Graceland
Mud Island River Park
Memphis Botanic Garden

Motel offers: 
Free hot breakfast
Free WiFi
Seasonal outdoor pool
Guest laundry facilities
900-square-foot meeting room with full kitchen and outdoor patio, huge opportunity to increase your revenue. 
All of the rooms have a refrigerator, coffee maker, hair dryer, iron and ironing board. 
The building is reinforced concrete throughout, it used to be a Holiday Inn before, and has that solid concrete construction.

Highlights

Excellent Location right across from the Stadium
All Reinforced Concrete throughout building
Conference 950 sq feet 50 chairs with Surround Sound system, full kitchen, and private Restroom
Resurfaced pool 2019
Roof Redone 2011

Property Flyers

Financial Summary (Actual)

Net Operating Income: $232,448 (2018)
Cap Rate: 10.75 %
Total Expenses: $278,406

Amenities

  • Air Conditioning
  • Balcony
  • Conferencing Facility
  • Laundry Facilities
  • Pool
  • Breakfast/Coffee Concierge
  • Roof Terrace
  • Community-Wide WiFi
  • Flat Screen TVs
  • Iron
  • Pet-Friendly

Public Transportation

AirportDriveWalkDistance
Memphis International Airport 35 min - 26.1 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 72
Type: Surface
Included in Rent: Yes
Felecia Magro 901-283-9373 Stamps Real Estate LLC
Felecia Magro 901-283-9373 Stamps Real Estate LLC