Deal Overview

The Nevarez Group of Marcus & Millichap’s National Hospitality Division is pleased to present for sale an exceptional opportunity to convert the existing “Travelodge by Wyndham – Memphis Airport Hotel” into a multi-family property with mixed-use zoning already approved. This straightforward conversion involves no demolition and will yield 177 studios and 37 one-bedroom apartments for a total of 214 apartment units. Each unit will have a kitchenette added to the existing rooms, making it perfectly suited for a multi-family conversion focused on Active Adults 55+.

This property is perfectly suited to be converted to a multi-family property providing additional services and generating additional income. With its strategic location, existing amenities, and the approval for mixed-use zoning, it presents an excellent investment opportunity to meet the growing housing demand in Memphis.

This property includes additional amenities such as 5,000 square feet of conference space, two food & beverage locations, and a lobby bar, which provide the potential for additional services and income. Its strategic location, existing amenities, and the growing demand for housing in Memphis make it a prime candidate for development.