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    551 Elm St Martin, TN 38237

    Pending
    For Sale
    $1,300,000

    Other - Martin, TN

    Property size:
    10,206 SF
    Lot size:
    1.50 Acres
    Days on Market:
    25
    Last Refresh:
    Dec 14 at 12:06 pm

    Property Features for 551 Elm St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    APN
    1 & 1.01
    Size
    10,206 SF
    Lot size
    1.50 Acres

    Utilities

    Heating system
    See Remarks (Heating)

    Building Details

    Year built
    1954
    Number of units
    24
    Building materials
    Brick
    Roof type
    Asphalt
    Architectural style
    Other

    Wendell Alexander Realty (731) 364-5368 [email protected]

    Listing agent ALEX BYNUM (731) 281-1220 License #320284

    Listing date Nov 20, 2025

    MLS# 45438 Listing URL

    Copyright © 2025 Reelfoot Regional Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Motel and Laundromat For Sale

    This property features a motel with 24 rooms, including 10 apartment-style rooms and 14 overnight rooms, along with a full laundry facility. The laundry comes equipped with 22 washers and 24 dryers of various sizes, ranging from 20 to 60 pounds. All utilities are included. Onsite manager quarters are available. The property has undergone a recent extensive remodel, including a new roof and electrical system. Situated on a 1.5-acre lot, the property encompasses 10,206 square feet. The property offers great income potential and a boutique conversion opportunity. Financials are available with a signed NDA/LOI. The current owner is willing to provide transition assistance. It is located in Martin, Tennessee.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Len Haven Motel ... Motel

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Martin
    County
    Weakley
    State
    Tennessee
    Longitude
    -88.854095
    Latitude
    36.335983

    Nearby Similar for Sale

    • $1,300,000
      Pending

      Motel and Laundromat For Sale

      24-room motel and laundromat with income potential in Martin, TN.
      551 Elm St, Martin, TN 38237
      View Details
    • $1,300,000
      10,206 SF

      Motel and Laundromat For Sale

      24-room motel with laundromat and remodel in Martin, TN.
      551 Elm St, Martin, TN 38237
      View Details
    • $1,300,000
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      Commercial Property in Downtown Martin

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      Former Church with Development Potential

      4,772 sq ft former church with versatile redevelopment opportunities.
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    • $745,000
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      Mixed-Use Property in Martin, TN

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    • $325,000
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      Retail Opportunity in Martin, TN

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      View Details

    FAQs

    What type of property is this?
    Motel - 24-room motel and laundromat with income potential in Martin, TN.
    Where is this motel located?
    The property is located at 551 Elm St Martin, TN.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: - Substantial income potential from motel and laundromat operations.; - Recent extensive remodel including **new roof and electrical systems**.; - 24 rooms with a mix of apartment-style and overnight accommodations.
    (731) 281-1220
    Request Owner's contact information
    551 Elm St Martin, TN 38237
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    Martin, TN 38237
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    551 Elm St Martin, TN 38237
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