1004 Cumberland Center BlvdLebanon, TN 37087

Property Details for 1004 Cumberland Center Blvd

Year built

2017

Construction

FRAME

Lot size

1.72 AC

Property size (Sq ft)

30,908 SF

Zone code

B4

Property type

Hotels

APN

081E A 00300

APU

081EA00300

Description

This 63-key My Place Hotel in Lebanon, TN, presents a compelling value-add opportunity. Built in 2017 on a 1.72-acre lot, this four-story, 30,328 square foot hotel boasts a projected NOI of $650,418 and a pro-forma revenue of $1.648 million at an 88% RevPAR index. The property is priced below replacement cost, offering significant equity upside. Strategically located at the intersection of I-40 and Highway 231, it benefits from high visibility and over 40,000 vehicles passing daily. The strong market fundamentals are driven by increasing demand from corporate headquarters, leisure attractions, and sporting events. The My Place Hotels brand is rapidly expanding, appealing to both extended-stay and short-term travelers. Its location offers easy access to both Nashville's vibrant attractions and Lebanon's peaceful atmosphere, catering to a diverse range of guests. The property is zoned B4 and features rooms with full kitchens. This presents a unique chance to capitalize on a growing market with a well-positioned asset. The asking price is $5,800,000. The property's address is 1004 Cumberland Center Blvd, Lebanon, TN 37087. Wilson County APN: 081E-A-003.00.

• CAP approach

  CAP return

  Valuation

  6%

  $6,064,692

  6.5%

  $5,598,178

  7%

  $5,198,308

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,252,318

  Geo Method

  $6,252,318

• Alternative Use

  Use

  Valuation

  Residential

  $6,111,584

  Hospitality

  $5,598,178

  Educational

  $4,657,618

  Medical

  $4,817,800

  Retail

  $7,245,184

Location Insight

City

Lebanon

County

Wilson

State

Tennessee

Latitude

36.1833

Longitude

-86.2961

CBSA code

34980

CBSA name

NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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