2490 Mt Moriah Rd Memphis, TN 38115-1508

This 194-key, four-story hotel in Memphis, TN, sits on a 3.36-acre lot and offers significant value-add potential. Located 11 miles from downtown Memphis and 8 miles from Memphis International Airport, it benefits from proximity to major attractions like Graceland, Beale Street, and numerous shopping centers. The hotel features a large 9,000 sq. ft. banquet and meeting space, a restaurant, and commercial kitchen, presenting opportunities for expansion and conversion. Constructed of solid concrete block, the property boasts an interior corridor design. Its central location near various demand generators, including the University of Memphis, makes it an attractive investment. The asking price is $4,500,000 ($21,000/key), significantly below replacement cost. Potential exists for multifamily rezoning or conversion to an extended-stay hotel or dual-brand operation. Bank financing is available. This property is being sold on a projection proforma basis.