2400 NW Executive, Cleveland, TN 37312
$2,500,000
Property Type:
Commercial
Square Footage:
90,500
Lot Size (sq. ft.):
492,228
Status:
Closed
Current Price:
$2,500,000
List Date:
3/01/2014
Last Modified:
7/05/2016
Overview
Description
This is an excellent Motel that does a thriving business. The views from the property are stunning! It has a wonderful restaurant (94 seats) that is part of the motel, but could be leased. There are meeting and banquet rooms with a capacity of 350 people. There is an outdoor pool. There are 175 parking spaces for the 145 room Inn. The motel has new A/C, new carpeting,new furniture, a new roof, and new parking lot lighting. The seller is very highly motivated.
Listing Details MLS# 876669
Location Tax Legal Info
- House #
- 2400
- St Dir
- NW
- Street Name
- Executive
- State/Province
- TN
- Zip Code
- 37312
- PIN #
- 041gd005.00
Contract Info
- Listing Price
- 2999900
General Property Description
- SqFt – Total (Aprox)
- 90500
- Lot Dimensions
- 11.3 Acres – Iregular
- Acres
- 11.3
- # of Buildings
- 4
- Stories
- 2
- Zoning
- Commercial
- # Parking Spaces
- 175
- Condition
- Excell
- Restrictions
- No
- Property Status
- N/A
Status Change Info
- Status Change Date
- 2014-06-12
- Under Contract Date
- 2014-06-06
- Sold Date
- 2014-06-06
IncomeExpenses
- Net Operating Income
- 332447
Location, Tax & Legal Info
- Area
- Bradley County – 47
- City/County Code
- County
- Total Tax
- 25000
More Information
Location
- Central Busns Area
- Yes
- Inside City
- Yes
Remarks & Misc
- Directions
- From West Knoxville, take I-75 SOUTH to Exit 25, Turn Left at end of exit ramp on Georgetown Rd NW and then 1st Right onto Executive Park Dr NW. Proceed up the hill to the property on Left.
- Public Remarks
- This is an excellent Motel that does a thriving business. The views from the property are stunning! It has a wonderful restaurant (94 seats) that is part of the motel, but could be leased. There are meeting and banquet rooms with a capacity of 350 people. There is an outdoor pool. There are 175 parking spaces for the 145 room Inn. The motel has new A/C, new carpeting,new furniture, a new roof, and new parking lot lighting. The seller is very highly motivated.
Income/Expenses
- Gross Annual Income
- 1315777
- Annual Oper Expenses
- 981330
Commercial Type
- Commercial
- Yes
Construction
- Concrete Block
- Yes
Sale/Lease Includes
- Building
- Yes
- Fee Simple
- Yes
- Land
- Yes
Road Access
- Interstate Access
- Yes
- Interstate Exposure
- Yes
- U.S. Highway
- Yes
Miscellaneous
- 220 Volt Power
- Yes
- 440 Volt Power
- Yes
- Handicap Accessible
- Yes
- Handicap Equipped
- Yes
- Inside Storage
- Yes
- Living Space Avail
- Yes
- Other Outbuildings
- Yes
- Rest Rooms
- Yes
Cooling
- Central Cooling
- Yes
Utilities on Site
- Electric
- Yes
- Public Water
- Yes
- Sewer
- Yes
- Telephone
- Yes
Fuel
- Electric
- Yes
Additional Info
- Other
- Yes
Easements
- Other
- Yes
Heat
- Central
- Yes
Expenses Included
- Accounting Legal
- Yes
- Payroll
- Yes
- Property Insurance
- Yes
- Repair & Maint
- Yes
- Services – All
- Yes
- Taxes – Pers Prop
- Yes
- Taxes – Real Estate
- Yes
- Utilities
- Yes
Building/Business Tp
- Hotel/Motel
- Yes
Equipment
- Carpeting
- Yes
- Fixtures/Furniture
- Yes
New Financing
- Call Listing Agent
- Yes
- Cash
- Yes
- Owner Will Carry
- Yes
Property Features
Commercial Type:
Commercial
Road Access:
Interstate Access; Interstate Exposure; U.S. Highway
Utilities on Site:
Electric; Public Water; Sewer; Telephone
Additional Info:
Other
Fuel:
Electric
Heat:
Central
Cooling:
Central Cooling
Location:
Central Busns Area; Inside City
Construction:
Concrete Block
Easements:
Other
Expenses Included:
Accounting Legal; Payroll; Property Insurance; Repair & Maint; Services – All; Taxes – Pers Prop; Taxes – Real Estate; Utilities
Equipment:
Carpeting; Fixtures/Furniture
Miscellaneous:
220 Volt Power; 440 Volt Power; Handicap Accessible; Handicap Equipped; Inside Storage; Living Space Avail; Other Outbuildings; Rest Rooms
New Financing:
Call Listing Agent; Cash; Owner Will Carry
Listing Office:
Red Door Brokers
IDX
Office Phone: 865-919-8204
Last Updated: July – 05 – 2016
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