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Hotel-Motel

Quality Inn & Suites Corinth West

2101 US-72, Corinth, MS 38834

Listing Price: $7,000,000

Cap Rate
14.21%
Number of Rooms
97
RevPAR
$65
Gross SF
10,992
Price/Room
$72,165
Price/Gross SF
$636.83
Year Built
1986

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire the Quality Inn & Suites located in Corinth, Mississippi. Subject property is located with proximity to Huntsville, Alabama and Memphis, Tennessee. Strategically located directly off highway-72 and Highway-45 the Quality Inn offers an ease of access and is walking distance to all restaurants and entertainment. Recently renovated and offered with minimal Property Improvement Plan for a new operator. This asset will bene?t from onsite management and operations as the property is currently operated by an out of state owner. This property is also located within an opportunity zone giving an owner several tax incentives. The hotel guest rooms come with free Wi-Fi, ?at-screen TVs and coffeemakers; some add microwaves and minifridges. Suites add whirlpool tubs, sofa beds and/or separate living rooms. Amenities consist of a seasonal outdoor pool, plus a meeting room, a picnic area and coin-operated laundry facilities. The Quality Inn & Suites is located close to all major demand generators including downtown historic Corinth, all shopping venues, two major parks, and Fort Robinette. The property is also under 2 miles away from the Crossroads arena which boasts the states largest arena ?oor and hosts events such as concerts, rodeos, trade shows and conventions as well as several specialty events throughout the year. Corinth is referred to as Mississippi's gateway city and home to many museums and the Civil War Interpretive Center.

Investment Highlights

  • Fee Simple Interest in the 97-unit, Quality Inn & Suites Corinth, Located in Corinth, Mississippi
  • Located at the Intersection of US-72 and US-45 with Traffic Counts of Over 22,000 Vehicles Per Day
  • Recently Renovated Property Offered with Minimal New Ownership Property Improvement Plan
  • Property is Located Within a Low-Income Community Opportunity Zone
  • The Alcorn County Airport is Less Than 4 miles Away
  • Nestled Along the Tennessee-Mississippi State Line | 90 Minutes from Memphis, Corinth is Closely Tied to the Music Industry

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s) MS: 15586

    Mississippi

Hotel-Motel

Quality Inn & Suites Corinth West

Listing Price: $7,000,000

Cap Rate
14.21%
Number of Rooms
97
RevPAR
$65
Gross SF
10,992
Price/Room
$72,165
Price/Gross SF
$636.83
Year Built
1986

Investment Highlights

  • Fee Simple Interest in the 97-unit, Quality Inn & Suites Corinth, Located in Corinth, Mississippi
  • Located at the Intersection of US-72 and US-45 with Traffic Counts of Over 22,000 Vehicles Per Day
  • Recently Renovated Property Offered with Minimal New Ownership Property Improvement Plan
  • Property is Located Within a Low-Income Community Opportunity Zone
  • The Alcorn County Airport is Less Than 4 miles Away
  • Nestled Along the Tennessee-Mississippi State Line | 90 Minutes from Memphis, Corinth is Closely Tied to the Music Industry

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire the Quality Inn & Suites located in Corinth, Mississippi. Subject property is located with proximity to Huntsville, Alabama and Memphis, Tennessee. Strategically located directly off highway-72 and Highway-45 the Quality Inn offers an ease of access and is walking distance to all restaurants and entertainment. Recently renovated and offered with minimal Property Improvement Plan for a new operator. This asset will bene?t from onsite management and operations as the property is currently operated by an out of state owner. This property is also located within an opportunity zone giving an owner several tax incentives. The hotel guest rooms come with free Wi-Fi, ?at-screen TVs and coffeemakers; some add microwaves and minifridges. Suites add whirlpool tubs, sofa beds and/or separate living rooms. Amenities consist of a seasonal outdoor pool, plus a meeting room, a picnic area and coin-operated laundry facilities. The Quality Inn & Suites is located close to all major demand generators including downtown historic Corinth, all shopping venues, two major parks, and Fort Robinette. The property is also under 2 miles away from the Crossroads arena which boasts the states largest arena ?oor and hosts events such as concerts, rodeos, trade shows and conventions as well as several specialty events throughout the year. Corinth is referred to as Mississippi's gateway city and home to many museums and the Civil War Interpretive Center.

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s): MS: 15586

    Mississippi

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