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
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.
More Information MLS# 876669
Location, Tax & Legal Info
Area: Bradley County - 47
City/County Code: County
Total Tax: 25000
Location
Central Busns Area: 1
Inside City: 1
General Property Description
Lot Dimensions: 11.3 Acres - Iregular
Acres: 11.3
# of Buildings: 4
Restrictions: No
Stories: 2
Zoning: Commercial
Property Status: N/A
# Parking Spaces: 175
Condition: Excell
SqFt - Total (Aprox): 90500
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: 1
Construction
Concrete Block: 1
Sale/Lease Includes
Building: 1
Fee Simple: 1
Land: 1
Road Access
Interstate Access: 1
Interstate Exposure: 1
U.S. Highway: 1
Miscellaneous
220 Volt Power: 1
440 Volt Power: 1
Handicap Accessible: 1
Handicap Equipped: 1
Inside Storage: 1
Living Space Avail: 1
Other Outbuildings: 1
Rest Rooms: 1
Cooling
Central Cooling: 1
Utilities on Site
Electric: 1
Public Water: 1
Sewer: 1
Telephone: 1
Fuel
Electric: 1
Additional Info
Other: 1
Easements
Other: 1
Heat
Central: 1
Expenses Included
Accounting Legal: 1
Payroll: 1
Property Insurance: 1
Repair & Maint: 1
Services - All: 1
Taxes - Pers Prop: 1
Taxes - Real Estate: 1
Utilities: 1
Building/Business Tp
Hotel/Motel: 1
Equipment
Carpeting: 1
Fixtures/Furniture: 1
New Financing
Call Listing Agent: 1
Cash: 1
Owner Will Carry: 1
Location Tax Legal Info
House #: 2400
St Dir: NW
Street Name: Executive
State/Province: TN
Zip Code: 37312
PIN #: 041gd005.00
Geo Lat: 35.196475
Geo Lon: -84.885101
Contract Info
Listing Price: 2999900
Current Price: $2,500,000
Status: Closed
Listing Date: 2014-03-01
Status Change Info
Status Change Date: 2014-06-12
Under Contract Date: 2014-06-06
Sold Date: 2014-06-06
Sold Price: $2,500,000
IncomeExpenses
Net Operating Income: 332447
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
Office Phone: 865-919-8204
Last Updated: July - 05 - 2016
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