OUR ASSET:ECONOMY HOTEL CONVINGTON
ASKING PRICE: $1,000,000
ABOUT THE ASSET
The Economy Hotel Covington, located in the Greater Memphis Area, offers a prime value-add investment opportunity with 30 guestrooms. Built in 1944 and renovated in 2019, this two-story, exterior corridor property is unencumbered by management and debt, providing immediate in-place cash flow and potential for operational enhancements. Situated on a 0.273-acre lot with a total building size of 14,638 square feet, this asset presents a compelling investment case.
RECENT RENOVATIONS
Built in 1944 and renovated in 2019, the property combines historical charm with modern amenities, reducing the need for immediate capital investments.STRATEGIC LOCATION
Located in Covington, Tennessee, within the Greater Memphis Area, a region experiencing economic growth and increasing demand for affordable lodging.IMMEDIATE CASH FLOW
Provides strong in-place cash flow with significant potential for revenue growth through optimized operations and strategic management.ABOUT THE HOTEL
- Flexibility for New Ownership: Fully unencumbered by existing management and debt, allowing new owners to implement tailored operational strategies.
- Attractive Acquisition Cost: Offered at a significant discount to replacement cost, providing an immediate competitive advantage and value.
- Recent Renovations: Renovated in 2019, minimizing the need for immediate capital expenditures and enhancing guest appeal with modern amenities.
- Strategic Location: Situated in Covington, TN, within the Greater Memphis Area, benefiting from regional economic growth and increased demand for budget-friendly accommodations.