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185 Golf Course Road

Unicoi, TN 37692
  • $999,900
  • STATUS: Active
  • ON SITE: 20 Days
  • MLS #: 9965256
UPDATED: 85 min ago
$999,900
  • 0
    BEDS
  • 5.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 40,527
    SQFT
  • $25
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1973
County:

School Ratings & Info

Description

Unique Investment Opportunity for a creative and open minded investor...... Own a motel/micro apartments neighboring a golf course! This 69 room motel is grandfathered in and able to be reopened as a motel, weekly/monthly/extended stay.... OR petition for rezoning and do apartments! Formally known as Budget Inn Renamed as Buffalo View Motel - www.buffaloviewmotel.com - domain name transfer to new owner is included if they want. It was closed due to lack of management and guests staying at the motel. Some of the leg work that has been done: Sprinklers can be updated for $30-50k - all sprinkler heads and the dry pump must be replaced. Erwin Utilities is willing and able to provide fiber optic internet at 1gb or higher speed. Erwin Utilities will connect electric service to the existing electrical panel and passed an electrical inspection 6/6/2022 Johnson City Utility System will provide sewer service. Unicoi County will provide water service A structural engineer evaluate the property and he said the sidewalks and back concrete deck area need to be replaced. Roof maintenance has been done. It has an EPDM membrane roof that was installed in 2011. Retaining wall repair done on the side closest to the road. Survey done and the property corners are marked. Rezoning will take about 6 months, so there won't be a seller contingency for this. This opportunity is being sold as-is and is an excellent way to create your own equity and acquire a motel that if rented into micro apartments at $650/month including utilities you have a $4.48m valued asset BEFORE you do anything with the restaurant, meeting rooms or add extras to this. Mini storage? This motel is currently sitting on 5.18 acres with ample space for you to daydream of what could be! Creating positive cashflow and increasing your assest's value by what you do with the property Buyer/buyer's agent to verify

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© 2024 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2024-05-22T06:59:55.347.
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185 Golf Course Road Unicoi, TN 37692

  • Price: $999,900
  • Status: Active
  • On Site: 20 Days
  • Updated: 85 min ago
  • MLS #: 9965256
0
Beds
0
Baths
0
½ Baths
5.18
Acres
40,527
SQFT
$25
$/SQFT
1973
Built
Neighborhood:
S. Unicoi County
County:
Unicoi
Area:
S. Unicoi County
Property Description
Unique Investment Opportunity for a creative and open minded investor...... Own a motel/micro apartments neighboring a golf course! This 69 room motel is grandfathered in and able to be reopened as a motel, weekly/monthly/extended stay.... OR petition for rezoning and do apartments! Formally known as Budget Inn Renamed as Buffalo View Motel - www.buffaloviewmotel.com - domain name transfer to new owner is included if they want. It was closed due to lack of management and guests staying at the motel. Some of the leg work that has been done: Sprinklers can be updated for $30-50k - all sprinkler heads and the dry pump must be replaced. Erwin Utilities is willing and able to provide fiber optic internet at 1gb or higher speed. Erwin Utilities will connect electric service to the existing electrical panel and passed an electrical inspection 6/6/2022 Johnson City Utility System will provide sewer service. Unicoi County will provide water service A structural engineer evaluate the property and he said the sidewalks and back concrete deck area need to be replaced. Roof maintenance has been done. It has an EPDM membrane roof that was installed in 2011. Retaining wall repair done on the side closest to the road. Survey done and the property corners are marked. Rezoning will take about 6 months, so there won't be a seller contingency for this. This opportunity is being sold as-is and is an excellent way to create your own equity and acquire a motel that if rented into micro apartments at $650/month including utilities you have a $4.48m valued asset BEFORE you do anything with the restaurant, meeting rooms or add extras to this. Mini storage? This motel is currently sitting on 5.18 acres with ample space for you to daydream of what could be! Creating positive cashflow and increasing your assest's value by what you do with the property Buyer/buyer's agent to verify
Exterior Features

Construction Materials BlockBrick Roof See Remarks

Interior Features

Building Area Total 40527 Cooling Wall Unit(s) General Property Description Total Sq Ft Finish 40527 General Property Description Total Sq Ft Unfini 0 Heating See Remarks

Property Features

Contract Info Auction No Contract Info Foreclosure No Contract Info Short Sale No Cooling YN Yes Current Financing None Documents Available [] Listing Terms CashConventionalOther New Construction YN No Other Equipment See Remarks Property Condition FixerPoor Sewer See Remarks Water Source See Remarks Zoning R-1

Listing information © 2024 Tennessee/Virginia Regional MLS.
Listing provided courtesy of Laura Meade of Bridge Pointe Real Estate JC: 423-226-6101.



© 2024 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2024-05-22T06:59:55.347.
 
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Bridge Pointe Real Estate
504 E Jackson Blvd
Jonesborough TN, 37659