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423-968-7653
Commercial ()

185 Golf Course Rd, Unicoi, TN 37692

Price: $899,900  List Date: 2024-05-01  DOM:  22
City Tax: $0 County Tax: $3,584
Year Built: 1973 pre-1978 Homes

Finished Area: 40,527 ft²

Unfinished: 0 ft² (not in garage)  

Total Area: 40,527 ft² (Finished & Unfinished)

Lot Size: 5.18 acre(s)Lot Dimensions: 693x 347x589x400irr
Heating: See RemarksCooling: Wall Unit(s)Water & Sewage: See Remarks

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 InnRenamed 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 6/6/2022Johnson City Utility System will provide sewer service.Unicoi County will provide water serviceA 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 propertyBuyer/buyer's agent to verify

Community Information

Geographical
County: Unicoi
Subdivision:
Zoning: R-1
School System
Elementary
Middle
High

Interior

Exterior

Roof: See Remarks Exterior Finish: Block, Brick 

Photos

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Listing by Bridge Pointe Real Estate Jc
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