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Len Haven Motel and Laundromat 551 Elm St

24 Room Hotel Martin, TN 38237 $1,500,000 ($62,500/Room) 9.40% Cap Rate

Hotels Tennessee Martin 551 Elm St, Martin, TN 38237

Investment Highlights

  • Location to Campus
  • Increased Income Potential

Executive Summary

Motel and Laundromat with 24 Rooms. 10 Apartment Style and 14 Overnight Rooms. 22 Top Head Washers, 24 Dryers, 1-60lb Front Load Washer, 5-40lb Front Load Washer, 3-30lb Front Load Washer, and 2-20lb Front Load Washer. Water, Cable, Electric, Internet all covered by owner. There is an attached manger living quarters onsite. Great income potential with opportunity to be turned into a boutique motel. Financials can be viewed with an signed NDA and LOI. Owners willing to help with transition. DO NOT CALL business and ask questions. Only contact listing agent.

Property Facts

Price $1,500,000 Lot Size 1.50 AC
Price Per Room $62,500 Building Size 10,206 SF
Sale Type Investment No. Rooms 24
Cap Rate 9.40% No. Stories 1
Property Type Hospitality Year Built/Renovated 1954/2024
Property Subtype
Hotel
  • General Retail Storefront Retail/Residential
 Parking Ratio 3.82/1,000 SF
Building Class C Corridor Exterior
Price $1,500,000
Price Per Room $62,500
Sale Type Investment
Cap Rate 9.40%
Property Type Hospitality
Property Subtype
Hotel
  • General Retail Storefront Retail/Residential
Building Class C
Lot Size 1.50 AC
Building Size 10,206 SF
No. Rooms 24
No. Stories 1
Year Built/Renovated 1954/2024
Parking Ratio 3.82/1,000 SF
Corridor Exterior

Amenities

  • Public Access Wifi

Room Mix Information

Description No. Rooms Daily Rate SF
Guest Room 24 $57.00 -
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551 Elm St, Martin, TN - aerial map view - Image1
551 Elm St, Martin, TN - aerial map view - Image2

PROPERTY TAXES

Parcel Number 078D-D-001.01 Improvements Assessment $80,480
Land Assessment $24,720 Total Assessment $105,200

PROPERTY TAXES

Parcel Number
078D-D-001.01
Land Assessment
$24,720
Improvements Assessment
$80,480
Total Assessment
$105,200

zoning

Zoning Code B-1 (B-1 (Local Business) District)
B-1 (B-1 (Local Business) District)
(731) 281-1220

Contact

  • Listing ID: 33208203

  • Date on Market: 9/17/2024

  • Last Updated:

  • Address: 551 Elm St, Martin, TN 38237

More public record information on 551 Elm St, Martin, TN 38237

The Hospitality Property at 551 Elm St, Martin, TN 38237 is currently available for sale. Contact Wendell Alexander Realty for more information.

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551 Elm St, Martin, TN for sale Aerial- Image 1 of 5
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551 Elm St, Martin, TN for sale Primary Photo- Image 2 of 5
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551 Elm St, Martin, TN for sale Building Photo- Image 3 of 5
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551 Elm St, Martin, TN for sale Aerial- Image 4 of 5
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Len Haven Motel and Laundromat | 551 Elm St
(731) 281-1220 x

Len Haven Motel and Laundromat | 551 Elm St

Alexander Bynum

(731) 281-1220

(731) 281-1220

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