6141 Poplar Pike, Memphis, TN 38119
105 Hotel Rooms | Online Auction Sale | Memphis, TN 38119
For Sale
Active
22 pictures
- Property Type
-
Hospitality
- Square Feet
- 110,206 SF
Listing Contacts
- Property Info
Property Overview
Property is offered for individual sale in the July 15th Ten-X auction event as part of a two-property portfolio, including the 94-room Sonesta ES Suites Montgomery, providing buyers the opportunity to purchase multiple assets and capitalize on strong operating synergies by owning two branded regional hotels serving different markets.
Located less than one mile from FedEx World HQ and approximately 9 miles northeast of FedEx World Hub, the single largest employer in the entire Memphis MSA currently employs ~30,000 people regionally.
Easily accessible to all local healthcare demand, including St. Jude Children’s Research Hospital, and is less than one mile from the 42-acre, 479-bed St Francis Hospital Memphis campus, one of the area's largest employers.
Situated near several prominent institutions of higher education, including the University of Memphis, Rhodes College, Christian Brothers University, and the Memphis College of Art.
Positioned in close proximity to the region’s frequently visited leisure attractions, including Beale Street, Graceland, the National Civil Rights Museum, Sun Studio, and the Memphis Zoo.
Proximate to some of the region’s largest employers, including AutoZone (HQ), International Paper (HQ), Service Master Global, and Memphis International Airport.
Tennessee has been a primary benefactor of migration trends, with business leaders seeking pro-business / lesser tax-burdened markets and residents attracted to the sunbelt quality of life.
Located less than one mile from FedEx World HQ and approximately 9 miles northeast of FedEx World Hub, the single largest employer in the entire Memphis MSA currently employs ~30,000 people regionally.
Easily accessible to all local healthcare demand, including St. Jude Children’s Research Hospital, and is less than one mile from the 42-acre, 479-bed St Francis Hospital Memphis campus, one of the area's largest employers.
Situated near several prominent institutions of higher education, including the University of Memphis, Rhodes College, Christian Brothers University, and the Memphis College of Art.
Positioned in close proximity to the region’s frequently visited leisure attractions, including Beale Street, Graceland, the National Civil Rights Museum, Sun Studio, and the Memphis Zoo.
Proximate to some of the region’s largest employers, including AutoZone (HQ), International Paper (HQ), Service Master Global, and Memphis International Airport.
Tennessee has been a primary benefactor of migration trends, with business leaders seeking pro-business / lesser tax-burdened markets and residents attracted to the sunbelt quality of life.
Property Details
- Class
- B
- Year Built/Renovated
- 1986/2023
- Stories
- 4
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 104,544 SF
- Units
- 105
Highlights
- Fee-simple interest in the institutionally-owned and third-party managed 105-room Simply Suites Memphis E Poplar Pike offered below replacement costs.
- Offered unencumbered of management, debt, and providing prospective buyers with an opportunity for alternative use pending zoning approval.
- Hotel is operating at ~85% occupancy with in-place yield making the hotel readily financeable.
- Ownership has recently invested ~500K / 4.7K per key into the property including renovations to the roof.
- Strong operational upside in adjusting the business mix and pushing ADR with current T12 occupancy of ~85%.
- Direct access to Poplar Ave (US 72) in proximity to I-240 – one of the most heavily trafficked interstate corridors in TN with upwards of 130,000 VPD.
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