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    Wellington, TX Clarendon, TX Childress, TX Turkey, TX
    Historic Hotel with Owner's Apartment
    Updated: Aug 25, 2022
    Historic Hotel with Owner's Apartment

    421 W Main Street, Memphis, TX 79245

    $295,000
    Approximately 43,000 +/- SF (TBV) historic hotel building with owner’s apartment
    Hotel requires total restoration; described restoration timeline is 3–4 phases
    Potential completion of approximately 32–39 rooms
    Multiple retail spaces with different addresses plus restaurant, meeting, conference, and ballroom areas
    Original pressed tin ceilings/moldings, terrazzo floors, and hall of mirrors
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    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    Based on your search, we've compiled 5 Potential Opportunities for your consideration. Besides 1 Active listings in Memphis, TX, we suggest exploring several alternatives: 4 properties in Nearby Cities

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    12-Room Inn with Manager's Quarters
    12-Room Inn with Manager's Quarters

    912 US 87, Tulia, TX 79088

    $299,000
    1.58 AC lot

    12-room inn with manager’s quarters, office space, and cellar on 1.58 acres served by public water and public sewer.

    View details
    107-Key Furnished Hotel
    107-Key Furnished Hotel

    1620 Interstate 40 E, Amarillo, TX 79103

    Contact for pricing
    33,968 sqft

    Fully furnished lodging asset with potential for extended-stay or workforce-housing conversion.

    View details
    109-Room Hotel Property
    109-Room Hotel Property

    2100 Coulter St, Amarillo, TX 79106

    Contact for pricing
    2.19 AC lot

    Established lodging asset with highway connectivity, on-site parking, and proximity to dining and entertainment options.

    View details
    12-Room Brick Motel
    12-Room Brick Motel

    912 U.S. 87, Tulia, TX 79088

    $299,000

    Established lodging property with manager accommodations, office space, parking, and landscaped grounds.

    View details

    Memphis, TX Hotels Market Trends and Statistics

    Explore 1 hotels for sale in Memphis, TX on our real estate platform.

    Sale prices for resorts in Memphis, TX average $295,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Hotels 1

    Demographics Overview

    Population 2,291
    Population Growth (5Y) -4.5%
    Median Household Income $46,667
    College Educated 21.7%

    High-Yield Neighborhoods for Investment

    Identify Memphis submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    79245 $295K

    Taxes & Financing

    Tax Rate (average for all types) 2.07%
    Property Tax per SF $24.35 per SF
    Tax Rate vs County Average 0.03 pp above county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Hall County

    New Delisted

    Total CRE Inventory on Market (SF)

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