340 Leontyne Price BlvdLaurel, MS 39440

Property Details for 340 Leontyne Price Blvd

Year built

1959

Lot size

2.33 AC

Property type

Hospitality properties

Property subtype

Motels

Description

Exceptional investment opportunity in Laurel, Mississippi! The Town House Motel, a well-established 80-unit motel, presents a compelling chance to acquire a thriving hospitality business. This property boasts a prime location on Leontyne Price Boulevard, offering high visibility and direct access to I-59, ensuring maximum exposure and consistent occupancy. Recently renovated in 2023, the motel features updated amenities in all 80+ units, including new HVAC units, refrigerators, microwaves, flat-screen TVs, fresh paint, and updated flooring. The property also includes a newly paved parking lot and a new roof. Situated on a 2.33 to 2.69-acre lot, the motel comprises five buildings with two stories each, operating under a gross lease tenancy. Built in 1959, this property is zoned C-3 and presents significant growth potential within an Opportunity Zone. The current owner is an LLC. Financial records are available upon request. The buyer is responsible for verifying future use and any potential restrictions with the city of Laurel. APN: 119H-06-07-005.00. Asking price: $1,700,000.

Location Insight

City

Laurel

County

Jones

State

Mississippi

Latitude

31.6876

Longitude

-89.1369

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