Property profile

3076 Kirby Pkwy Memphis, TN 38115

OFF-MARKET
Hotels
Property ID
US80-1501186
51,804 SF 2.57 ac lot Built 1998
Entity Owned 3-yr Hold ~ Est. High Equity
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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

Current use

Occupant on record · Public records
  • Hotel & Motel
  • Restaurant
  • Parking Lot & Garage

Location

3076 Kirby Pkwy Memphis, TN 38115-7718
Memphis metro Census 21724 MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$4.29M
CAP Approach CAP
$6.00M
Comparable Approach Comparable
$3.24M
Blend (final) Blend
$4.40M

Owner & transaction history

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
Zoning description

h. CMU-2 and CBD districts. Any convenience store with gas pumps or gas stations constructed in the CMU-2 and CBD districts after the effective date of this ordinance (ZTA 21 -2) or reactivated after one year of disconti…

General category MIXED_USE
Top alternative use upside
Medical building $7.4M +110.1%
Apartment house (5+ units) $4.6M +30.7%
Office building $4.3M +21.5%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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