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Property profile & analytics
OFF-MARKET Estimated value $4,450,000
Hotels

3076 Kirby Pkwy Memphis, TN 38115-7718

51,804 SF 2.57 ac lot Built 1998
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US80-1501186
Property summary
AI-generated overview

This exceptional investment opportunity presents a 96-room Courtyard by Marriott hotel in Memphis, Tennessee. The property boasts a prime location off Route 385 and I-240 in East Memphis, offering convenient access to Germantown, Memphis International Airport, FedEx Headquarters, and International Paper. The three-story hotel, situated on approximately 0.28 acres, underwent a complete renovation in 2024, ensuring modern amenities and updated facilities for guests. With a total of 34,536 square feet, the hotel features 309 keys and approximately 630 square feet of meeting space, catering to both business and leisure travelers. The property is offered unencumbered by management agreements or debt, providing a clean and attractive investment opportunity. The hotel's strategic location within a rapidly growing area of Memphis promises strong occupancy rates and significant return on investment. This fee-simple ownership offers a rare chance to acquire a well-maintained, high-performing hotel in a thriving market. The property's recent renovation ensures long-term operational efficiency and minimizes immediate capital expenditure needs. This is an ideal acquisition for investors seeking a stable and profitable addition to their portfolio. The single building structure simplifies management and maintenance, further enhancing the property's appeal.

Property profile
Verified
Property type Hotels
Use group HOTEL
Year built 1998
Total area 51,804 SF
Lot 2.57 ac (111,949 SF)
Zoning code CMU-2
APN 093-200- - -00414
UPID US80-1501186
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Courtyard Memphis East/Bill Morris Parkway Hotel & Motel
  • The Bistro – Eat. Drink. Connect.® Restaurant
  • 3076 Kirby Parkway Parking Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$4.29M
CAP Approach CAP
$6.00M
Comparable Approach Comparable
$3.24M
Blend (final) Blend
$4.45M
Owner & transaction history
Capital Memphis LLC · 3 yrs held
Capital Memphis LLC
since 2023
Last sale
$4.6M
5 recorded transactions
2023
$4.6M
2015
$8.1M
2013
$4.2M
2005
Price N/A
1969
Price N/A
Zoning & alternative use
CMU-2 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building $7.4M +110.1%
Apartment house (5+ units) $4.6M +30.7%
Office building $4.3M +21.5%
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