Investment Overview

Register to bid and access due diligence documents on RealINSIGHT Marketplace: https://rimarketplace.com/auction/2953 Marcus & Millichap is proud to present The Rambler Hotel, an upscale 18-Suite boutique hotel located in Downtown Memphis, TN. The property is being offered Fee Simple Unencumbered of Debt or Management. This historic revitalization was originally constructed in 1900 and had an extensive renovation in 2021 to its present state as an apartment-style lodging accommodation. The property was a Finalist at the 2022 Building Memphis Awards for Best Renovation, validating both execution quality and architectural relevance. The property offers a distinctive experience with spacious loft-style units averaging 800 sq. ft., complete with full kitchens and comfortable living areas—ideal for business travelers and extended stays. Located in the vibrant & growing South Main Arts District, the hotel benefits from its proximity to cultural landmarks, Beale Street, the Mississippi River, and the National Civil Rights Museum. The Rambler hotel represents an attractive easy to manage apartment style investment with above market multifamily NOI and healthy in-place RevPAR of $126 with potential upside with a hands-on management and economies of scale from a regional/local presence. A retail bank tenant occupies the ground floor on a long term lease providing in-place income that enhances overall yield stability with an additional 2,200 square feet available to lease out.