$2,500,000
Cleveland, TN 37312
MLS# 876669
Status: Closed
90500 sqft
1 / 10
Property 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.
Details
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
IDX
Listing Office: Red Door Brokers
Office Phone: 865-919-8204
Last Updated: July - 05 - 2016
The data relating to real estate for sale on this Web Site comes from the IDX Program of the Knoxville Area Association of REALTORS® Multiple Listing Service. © Copyright 2020 All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. This information is updated weekly, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.