2232 Center St Chattanooga, TN 37421
- Hotels
- 84,846 SF
- 3.91 lot acres
Current Use by Public Records
- DoubleTree by Hilton / Hotel
- The Dinner Detective Murder Mystery Dinner Show - Chattanooga, TN / Dinner Theater
- DoubleTree by Hilton Chattanooga Hamilton Place / Hotel
Property Details for 2232 Center St
- Year built
- 2011
- Lot size
- 3.91 lot acres
- Property size
- 84,846 SF
- Zone code
- C2
- Property type
- Hotels
- APN
- 148E B 003
- APU
- 148EB003
Description
This exceptional 138-key DoubleTree by Hilton hotel presents a compelling investment opportunity in Chattanooga, Tennessee. Located at 2232 Center St, Chattanooga, TN 37421, this seven-story property boasts a prime location, just off I-75, three miles from Chattanooga Airport, and within a ten-mile radius of popular attractions like the Tennessee Aquarium and the Creative Discovery Museum. Completely renovated in April 2023, this former Holiday Inn underwent a comprehensive transformation, now offering a turnkey operation under the DoubleTree brand. The hotel features above-index Average Daily Rate (ADR) and occupancy, demonstrating strong market performance. An attractive 4.25% assumable loan further enhances the investment appeal. This established hotel in a growing market offers significant potential for operational optimization and increased profitability as it stabilizes. The property's recent renovation ensures modern amenities and updated infrastructure, minimizing immediate capital expenditure needs. This is a rare opportunity to acquire a well-positioned, high-performing hotel with a strong brand affiliation and attractive financing terms. The property's convenient location and proximity to key attractions make it an ideal choice for both business and leisure travelers. This turnkey operation provides immediate income generation and significant long-term growth potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $12,165,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $12,085,000
- 6.5%
- $12,845,000
- 7%
- $11,865,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $14,170,000
- Geo Method
- $13,340,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $12,570,000
- Retail
- $10,190,000
- Mixed-Use
- $10,760,000
- Hospitality
- $10,910,000
- Educational
- $11,785,000
- Residential Income
- $13,825,000
- Energy
- $11,420,000
- Income-Based Land
- $12,530,000
- Food Service
- $11,140,000
Location Insight
- Map
- Local Demand
- City
- Chattanooga
- County
- Hamilton
- State
- Tennessee
- Longitude
- -85.1609
- Latitude
- 35.0413
- CBSA code
- 16860
- CBSA name
- CHATTANOOGA, TN-GA METROPOLITAN STATISTICAL AREA
