Travelodge by Wyndham Memphis Airport | 1471 E Brooks Rd
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Travelodge by Wyndham Memphis Airport 1471 E Brooks Rd
215 Room Hotel Memphis, TN 38116 $8,000,000 ($37,209/Room)
Investment Highlights
- Located at the exit on I-69 (same exit as Graceland) and only a half-mile from I-240.
- Across the street from Smith & Nephew, an office and manufacturing facility of medical devices employing over 2,000 people.
- 1.5 Miles from the Memphis International Airport, 2 Miles from the UPS Airport Shipping Hub, 3.6 Miles from the FedEx hub, Memphis’ largest employer.
- Bus stops are conveniently located in front of the property.
- 1.6 Miles from Graceland, Elvis Presley’s home, the second most visited private home in the USA.
- Close proximity to many other large office complexes and businesses.
Executive Summary
The Nevarez Group of Marcus & Millichap’s National Hospitality Division is pleased to present for sale an exceptional opportunity to convert the existing “Travelodge by Wyndham – Memphis Airport Hotel” into a multi-family property with mixed-use zoning already approved. This straightforward conversion involves no demolition and will yield 177 studios and 37 one-bedroom apartments for a total of 214 apartment units. Each unit will have a kitchenette added to the existing rooms, making it perfectly suited for a multi-family conversion focused on Active Adults 55+.
This property is perfectly suited to be converted to a multi-family property providing additional services and generating additional income. With its strategic location, existing amenities, and the approval for mixed-use zoning, it presents an excellent investment opportunity to meet the growing housing demand in Memphis.
This property includes additional amenities such as 5,000 square feet of conference space, two food & beverage locations, and a lobby bar, which provide the potential for additional services and income. Its strategic location, existing amenities, and the growing demand for housing in Memphis make it a prime candidate for development.
This property is perfectly suited to be converted to a multi-family property providing additional services and generating additional income. With its strategic location, existing amenities, and the approval for mixed-use zoning, it presents an excellent investment opportunity to meet the growing housing demand in Memphis.
This property includes additional amenities such as 5,000 square feet of conference space, two food & beverage locations, and a lobby bar, which provide the potential for additional services and income. Its strategic location, existing amenities, and the growing demand for housing in Memphis make it a prime candidate for development.
Property Facts
Amenities
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 215 | $73.00 | - |
PROPERTY TAXES
| Parcel Number | 07-8003-A0-0053C | Improvements Assessment | $566,080 |
| Land Assessment | $172,920 | Total Assessment | $739,000 |
PROPERTY TAXES
Parcel Number
07-8003-A0-0053C
Land Assessment
$172,920
Improvements Assessment
$566,080
Total Assessment
$739,000
zoning
| Zoning Code | EMP (Employment District - with variance granted to convert hotel to multi-family units in January 2022.) |
| EMP (Employment District - with variance granted to convert hotel to multi-family units in January 2022.) |
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Eddy Nevarez -
Marcus & Millichap
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Travelodge by Wyndham Memphis Airport | 1471 E Brooks Rd
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