800 University StMartin, TN 38237

Property Details for 800 University St

Year built

1978

Construction

CONCRETE

Lot size

2.15 AC

Property size (Sq ft)

26,512 SF

Property type

Hospitality properties

Property subtype

Motels

APN

092073 04301

APU

9207304301

Description

This exceptional 50-unit Days Inn hotel in Martin, Tennessee presents a compelling investment opportunity. Boasting 43,560 square feet, this two-story property with exterior corridors was built in 1952. The hotel enjoys a strategic location in the heart of Martin, just 2.5 hours from both Nashville and Memphis, offering convenient access to major transportation hubs. Martin's vibrant community, anchored by the University of Tennessee at Martin, provides a consistent stream of guests. The charming downtown area, with its unique shops and restaurants, further enhances the hotel's appeal. This property benefits from limited competition in the area and is situated in an Opportunity Zone. The hotel's average annual revenue over the last two years has been $534,280, making it an attractive proposition for owner-operators seeking a historically consistent market. The asking price is $2,250,000, or $45,000 per key. This represents a strong value proposition in a thriving market with significant growth potential. The property offers a rare chance to acquire a well-established hotel in a desirable location with a proven track record of profitability.

• CAP approach

  CAP return

  Valuation

  6%

  $6,883,240

  6.5%

  $6,353,760

  7%

  $5,899,920

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,857,158

  Geo Method

  $4,857,158

• Alternative Use

  Use

  Valuation

  Residential

  $6,936,460

  Hospitality

  $6,353,760

  Educational

  $5,286,254

  Medical

  $5,468,056

  Retail

  $8,223,062

Location Insight

City

Martin

County

Weakley

State

Tennessee

Latitude

36.3469

Longitude

-88.8735

CBSA code

32280

CBSA name

MARTIN, TN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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