Independent Motel For Sale in Metro-Memphis, TN for only $579,000!
Independent Motel For Sale in Metro-Memphis, TN for only $579,000!
Price: $579,000
Industry: Leisure and Hospitality, Accommodation (NAICS 721)
Listing ID: Covington579k
2020 Sales for the motel was $218,000! Seller's family 100% operates the property.
30 rooms plus 1 manager suite (2 bedrooms, living room, kitchen, dining area, and 3 bathrooms all connected).
Occupancy rate is 70%! At least 17 rooms have weekly extended stay customers.
Renovated 2019 new flat 40” screen TVs, new beds, new blinds, new curtains!
45 mins away from Memphis, TN!
Covington is the county seat and the largest city in Tipton County with a population and trade area of 61,366!
Located in the heart of the city, close to Tootsie Roll Industries (3 mins away), Unilever Covington Ice Cream Factory (7 mins away), and Historic Theatre (3 mins).
Alex Haley Museum and Interpretive Center and Mid-South Military Museum (16 mins away) are cultural highlights, and some of the area's activities can be experienced at Cobb-Parr Memorial Park (less than a mile) and Covington Country Club (6 mins)
Conveniently located on a major highway! Only 1 hour from Memphis International Airport.
Asking Price for the Motel Property is $579,000!
If interested, please email your full name and best contact number to info@riverbrokers.com
Gross Revenue: $218,000