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    112 Us-51 Covington, TN 38019

    Sponsored
    For Sale
    $3,700,000

    175 Rooms, Two Locations, High ROI Potential

    Property size:
    149,512 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional value-add opportunity presents two independently branded economy hotels totaling 175 guest rooms in prime Tennessee locations: Covington and Memphis. The portfolio, encompassing 149,512 square feet across 5.14 acres, offers significant upside potential. Built in 1944 and 1972, with renovations completed in 2019 and 2020, the properties are situated on B-2 and CMU-3 zoned lots. The portfolio is offered fee simple and is completely unencumbered by debt or existing management agreements, providing a blank slate for a new owner to implement operational improvements and capitalize on the current market conditions. The asking price represents a substantial discount compared to current replacement costs, offering immediate value. This is a rare chance to acquire a regionally concentrated portfolio of established economy hotels with significant potential for increased profitability. The properties are independently branded, allowing for flexibility in management and marketing strategies. The portfolio's size and location provide a strong foundation for future growth and returns. This is an ideal investment for those seeking a hands-on opportunity to enhance operational efficiency and maximize revenue generation in a thriving market.

    Property Features for 112 Us-51

    General Information

    Property type
    Motels
    Square Feet
    149,512 SF
    Lot Size
    223,898 SF

    HighLights

    • Two Memphis & North Covington economy hotels.
    • Two independent economy hotels.
    • 175 total guest rooms.
    • Free and clear of debt and management contracts.
    • Fee simple ownership.
    Property Profile Location Intelligence

    Current Use by Public Records

    Motels

    Map

    City
    Covington
    County
    Tipton
    State
    Tennessee
    Longitude
    -89.6484572
    Latitude
    35.5651519

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    FAQs

    What type of property is this?
    Motel - 175 Rooms, Two Locations, High ROI Potential
    Where is this motel located?
    The property is located at 112 Us-51 Covington, TN.
    What is the asking price?
    The asking price for this property is $3,700,000.
    What are key features of this property?
    This property features: Two Memphis & North Covington economy hotels.; Two independent economy hotels.; 175 total guest rooms.
    Request Owner's contact information
    112 Us-51 Covington, TN 38019
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    Covington, TN 38019
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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
    112 Us-51 Covington, TN 38019
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