3076 Kirby PkwyMemphis, TN 38115

Property Details for 3076 Kirby Pkwy

Year built

1998

Lot size

2.57 AC

Property size (Sq ft)

51,804 SF

Zone code

CMU-2

Property type

Hospitality properties

Property subtype

Hotels

APN

093-200- - -00414

APU

9320000414

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $8,478,014

  6.5%

  $7,825,859

  7%

  $7,266,869

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,490,804

  Geo Method

  $9,490,804

• Alternative Use

  Use

  Valuation

  Residential

  $8,543,564

  Hospitality

  $7,825,859

  Educational

  $6,511,022

  Medical

  $6,734,946

  Retail

  $10,128,257

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.0635

Longitude

-89.8428

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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