Hotel-Motel
Clarion Redevelopment Opportunity
2240 Democrat Rd, Memphis, TN 38132
Listing Price: $7,000,000
Investment Overview
Marcus & Millichap, as an exclusive representative of the seller, is pleased to present for sale the opportunity to redevelop two adjacent hotels in close proximity to Memphis International Airport. The offering consists of two parcels which make up a total of 382 units. Currently, neither of the properties are operational. 2240 Democrat Road formerly operated as a 257-room full-service hotel which sits on 4.01 acres. 2736 S Nonconnah Blvd is a 125 limited-service hotel which sits on 3.47 acres. Future ownership has the opportunity to capitalize on over seven acres and 382 units of hospitality space through implementation of an opportunistic strategy.
Clarion Redevelopment Opportunity
Investment Highlights
- The offering is positioned strategically within a one-mile radius of the Memphis International Airport making it one of the closest hotels by the airport.
- Ownership has recently installed a new roof for over $500,000 on 2240 Democrat Road and spent over $400,000 in remediation work.
- Ford Motor Company has announced it will be locating its electric vehicle and battery manufacturing plant in West Tennessee. This is a $5.6 billion investment the largest in the state's history.
Exclusively Listed By
Broker of Record
Financing By
Listing Price: $7,000,000
Investment Highlights
- The offering is positioned strategically within a one-mile radius of the Memphis International Airport making it one of the closest hotels by the airport.
- Ownership has recently installed a new roof for over $500,000 on 2240 Democrat Road and spent over $400,000 in remediation work.
- Ford Motor Company has announced it will be locating its electric vehicle and battery manufacturing plant in West Tennessee. This is a $5.6 billion investment the largest in the state's history.
Investment Overview
Marcus & Millichap, as an exclusive representative of the seller, is pleased to present for sale the opportunity to redevelop two adjacent hotels in close proximity to Memphis International Airport. The offering consists of two parcels which make up a total of 382 units. Currently, neither of the properties are operational. 2240 Democrat Road formerly operated as a 257-room full-service hotel which sits on 4.01 acres. 2736 S Nonconnah Blvd is a 125 limited-service hotel which sits on 3.47 acres. Future ownership has the opportunity to capitalize on over seven acres and 382 units of hospitality space through implementation of an opportunistic strategy.
Exclusively Listed By
Broker of Record
Financing By
