210 Broyles DrJohnson City, TN 37604

Property Details for 210 Broyles Dr

Year built

1990

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.04 AC

Property size (Sq ft)

39,905 SF

Property type

Motels

APN

038O A 00904

APU

038OA00904

Description

Exceptional investment opportunity: a fee-simple 115-unit Red Roof Inn in Johnson City, Tennessee. This three-story hotel, built in 1990, sits on a 2.04-acre lot and offers a compelling return for investors. The property boasts numerous amenities including free on-site parking, complimentary coffee and tea, an outdoor gazebo, vending machines, daily housekeeping, and fax/photocopy services. Each guest room is equipped with free Wi-Fi, microwave, refrigerator, flat-screen TV, desk with chair, clothes rack, and clock radio. Its prime location offers easy access to major demand generators. The hotel is conveniently situated 3.4 miles from the 455-bed Johnson City Medical Center (a Level 1 trauma center), 4 miles from East Tennessee State University (enrolling over 12,000 students and featuring a major medical school and teaching hospital), and less than 15 miles from Bristol Motor Speedway, a major attraction drawing over 500,000 visitors annually. The area also offers numerous recreational opportunities, including Winged Deer Park and Buffalo Mountain Park, along with shopping centers, restaurants, and other attractions such as the Rocky Mount Museum and Jonesborough Historic District. This well-maintained property presents a minimal property improvement plan for a new owner, making it an attractive proposition in a thriving market. The asking price is $6,995,000.

• CAP approach

  CAP return

  Valuation

  6%

  $8,746,530

  6.5%

  $8,073,720

  7%

  $7,497,026

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,720,640

  Geo Method

  $7,720,640

• Alternative Use

  Use

  Valuation

  Residential

  $8,814,156

  Hospitality

  $8,073,720

  Educational

  $6,717,240

  Medical

  $6,948,256

  Retail

  $10,449,040

Location Insight

City

Johnson City

County

Washington

State

Tennessee

Latitude

36.3437

Longitude

-82.3716

CBSA code

27740

CBSA name

JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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