551 Elm St - Hospitality FOR SALE


Martin, TN 38237
$1,500,000 USD
731-281-1220
551 Elm St, Martin, TN for Sale
$1,500,000 USD
Hospitality - FOR SALE
1/4
null | 9.4% Cap Rate

551 Elm St
Martin, TN 38237


HIGHLIGHTS

  • Location to Campus
  • Increased Income Potential

OVERVIEW

Motel and Laundromat with 24 Rooms. 10 Apartment Style and 14 Overnight Rooms. 22 Top Head Washers, 24 Dryers, 1-60lb Front Load Washer, 5-40lb Front Load Washer, 3-30lb Front Load Washer, and 2-20lb Front Load Washer. Water, Cable, Electric, Internet all covered by owner. There is an attached manger living quarters onsite. Great income potential with opportunity to be turned into a boutique motel. Financials can be viewed with an signed NDA and LOI. Owners willing to help with transition. DO NOT CALL business and ask questions. Only contact listing agent.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$147 USD /SF

# OF ROOMS

24

PRICE/ROOM

$62,500 {currency}

CAP RATE

9.4%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Len Haven Motel and Laundromat

PROPERTY TYPE

Hospitality

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1954

PARKING SPACES

54

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,340 SF

ZONING

B-1

APN/PARCEL ID

078D-D-001.01

ASK ABOUT THIS PROPERTY

Alexander BynumWendell Alexander RealtyMore Info
731-281-1220

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Alexander BynumWendell Alexander RealtyMore Info
731-281-1220

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.