112 Us-51 Covington, TN 38019
- Hospitality properties
- 149,512 SF
- 5.14 lot acres
Current Use by Public Records
- Hospitality properties
Property Details for 112 Us-51
- Lot size
- 5.14 lot acres
- Property size
- 149,512 SF
- Property type
- Hospitality properties
- Property subtype
- Motels
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Covington
- County
- Tipton
- State
- Tennessee
- Longitude
- -89.6485
- Latitude
- 35.5652
