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Hotel-Motel

Motel 6 Newport

255 Heritage Blvd, Newport, TN 37821

Listing Price: Request For Offer

Number of Rooms
66
RevPAR
$39
Gross SF
22,566
Year Built
1998

Investment Overview

Marcus & Millichap is pleased to offer for sale a fee simple interest in the 66-unit, Motel 6 Newport, located in Newport, Tennessee. The subject property is situated on 2.9 acres and features 3 ?oors of well-maintained guest rooms. Common area amenities include guest-laundry facilities, vending machines, 24- hour front desk, fax & photocopy machines, and free on-site parking. Each guest room is equipped with free Wi-Fi, telephone, TV with cable channels, alarm clock, desk with chair, clothes rack, and private bathroom. The Motel 6 is ideally located off I-40 with proximity to nearby demand generators. The subject property is within walking distance to many restaurants and retail options. Newport, Tennessee is centrally located to larger metros including Knoxville (48 miles), and Asheville (61 miles).  Knoxville, Tennessee is in Eastern Tennessee, 48 miles west of Newport. The larger metro offers popular attractions, medical centers, and universities. The University of Tennessee is in Knoxville - a public university with an enrollment of more than 31,700 students. Knoxville is also home to; Zoo Knoxville, Women’s Basketball Hall of Fame, Star of Knoxville Riverbank, Knoxville Museum of Art, Tennessee Theatre, Market Square, and Sunsphere Tower. Asheville, North Carolina is 70 miles west of Newport. Known for being a popular North Carolina tourist destination, nestled in the Blue Ridge Mountains with an abundance of attractions, restaurants, retail and accommodations. Leisure & Hospitality is one of Asheville's largest industries; which saw upwards of 11.9 million visitors in 2019. Buncombe County, where Asheville is located, generated more than $275 million in revenue from the hospitality industry, specifically hotels, in 2021. Top demand generators in the area include The Biltmore Estate, Mission Hospital, Asheville Outlets and outdoor attractions. 

Investment Highlights

  • Fee Simple Interest in the 66-Unit, Motel 6 Newport, Located in Newport, Tennessee
  • Located Directly off I-40 | Close Proximity to All Regional Demand Generators
  • 3 Story, Recently Renovated, Interior Corridor Offered Below Replacement Costs
  • Proximity to Knoxville (48 miles), Gatlinburg (31 miles), & Asheville (61 miles)

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s) TN: 307629

    Tennessee

Hotel-Motel

Motel 6 Newport

Listing Price: Request For Offer

Number of Rooms
66
RevPAR
$39
Gross SF
22,566
Year Built
1998

Investment Highlights

  • Fee Simple Interest in the 66-Unit, Motel 6 Newport, Located in Newport, Tennessee
  • Located Directly off I-40 | Close Proximity to All Regional Demand Generators
  • 3 Story, Recently Renovated, Interior Corridor Offered Below Replacement Costs
  • Proximity to Knoxville (48 miles), Gatlinburg (31 miles), & Asheville (61 miles)

Investment Overview

Marcus & Millichap is pleased to offer for sale a fee simple interest in the 66-unit, Motel 6 Newport, located in Newport, Tennessee. The subject property is situated on 2.9 acres and features 3 ?oors of well-maintained guest rooms. Common area amenities include guest-laundry facilities, vending machines, 24- hour front desk, fax & photocopy machines, and free on-site parking. Each guest room is equipped with free Wi-Fi, telephone, TV with cable channels, alarm clock, desk with chair, clothes rack, and private bathroom. The Motel 6 is ideally located off I-40 with proximity to nearby demand generators. The subject property is within walking distance to many restaurants and retail options. Newport, Tennessee is centrally located to larger metros including Knoxville (48 miles), and Asheville (61 miles).  Knoxville, Tennessee is in Eastern Tennessee, 48 miles west of Newport. The larger metro offers popular attractions, medical centers, and universities. The University of Tennessee is in Knoxville - a public university with an enrollment of more than 31,700 students. Knoxville is also home to; Zoo Knoxville, Women’s Basketball Hall of Fame, Star of Knoxville Riverbank, Knoxville Museum of Art, Tennessee Theatre, Market Square, and Sunsphere Tower. Asheville, North Carolina is 70 miles west of Newport. Known for being a popular North Carolina tourist destination, nestled in the Blue Ridge Mountains with an abundance of attractions, restaurants, retail and accommodations. Leisure & Hospitality is one of Asheville's largest industries; which saw upwards of 11.9 million visitors in 2019. Buncombe County, where Asheville is located, generated more than $275 million in revenue from the hospitality industry, specifically hotels, in 2021. Top demand generators in the area include The Biltmore Estate, Mission Hospital, Asheville Outlets and outdoor attractions. 

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s): TN: 307629

    Tennessee

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