126 Expressway Dr Manchester, TN 37355
- Motels
- 23,464 SF
- 2.70 lot acres
Current Use by Public Records
- Best Western Manchester / Hotel
Property Details for 126 Expressway Dr
- Year built
- 1972
- Lot size
- 2.70 lot acres
- Property size
- 23,464 SF
- Property type
- Motels
- APN
- 016085E A 02200
- APU
- 016085EA02200
Description
This exceptional 83-key Best Western hotel presents a compelling value-add investment opportunity in Manchester, Tennessee. Situated in the thriving Tullahoma-Manchester MSA, midway between Nashville and Chattanooga, this property benefits from convenient access to major transportation routes (I-24 corridor) and significant regional markets. The hotel, originally built in 1978 as a Holiday Inn and later rebranded as a Country Inn & Suites in 2001, has undergone a complete interior and exterior renovation completed in 2024. This extensive renovation includes a new glass entryway, front desk, breakfast area, an added elevator, fitness room, meeting room, and outdoor swimming pool. All rooms feature a combination of LVT and carpet flooring, and the entire property boasts a new roof, windows, and blackout window treatments, along with updated furniture. The 54,516 square foot hotel, spread across three two-story buildings, is currently operating under a 10-year franchise agreement with Best Western, eliminating any potential PIP (Property Improvement Plan) costs for the new owner. Projected first-year revenue exceeds $2.2 million, reflecting the strong RevPAR (Revenue Per Available Room) in the midscale/upper midscale market. An additional revenue stream is possible by leasing the approximately 10,000 square foot east-side building, which features a separate entrance and a full-size kitchen, ideal for a restaurant. The hotel's location in Manchester offers a desirable blend of rural charm and access to amenities, further enhanced by the city's proximity to major employers like the Arnold Engineering Development Complex (AEDC) and the annual Bonnaroo Music and Arts Festival. The asking price for this turnkey operation is $8,500,000. The property's APN is 085E-A-022.00 and is zoned Commercial 08.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,375,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,815,000
- 6.5%
- $2,665,000
- 7%
- $2,485,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,975,000
- Geo Method
- $2,460,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,605,000
- Retail
- $3,015,000
- Mixed-Use
- $2,900,000
- Hospitality
- $2,550,000
- Educational
- $3,255,000
- Residential Income
- $2,635,000
- Energy
- $2,705,000
- Income-Based Land
- $3,035,000
- Food Service
- $3,130,000
Location Insight
- Map
- Local Demand
- City
- Manchester
- County
- Coffee
- State
- Tennessee
- Longitude
- -86.0544
- Latitude
- 35.4607
- CBSA code
- 46100
- CBSA name
- TULLAHOMA, TN MICROPOLITAN STATISTICAL AREA
