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Auction - Feb 16-18 | The Rambler 400 South Main Street 18 Room Hotel Memphis, TN 38103 $1,247,796 CAD ($69,322 CAD/Room)
INVESTMENT HIGHLIGHTS
- Upscale Boutique Apartment-Style Hotel with Full Kitchens and In-Suite Washer Dryer - Average 800 Square Feet
- Redevelopment and Finalist at the 2022 Building Memphis Awards for Best Renovation (Original Historic Construction in 1900)
- Long Term Commercial Lease to Simmons Bank with Additional Rental Income from Available Storefront (2,200 Sq. Ft)
- Absentee Institutionally Managed and Owned
- 10,000 Square Feet of Curated Amenity Space
- Potential Multi-Family Conversion
EXECUTIVE SUMMARY
Register to bid and access due diligence documents on RealINSIGHT Marketplace: https://rimarketplace.com/auction/2953
Starting Bid: $900,000
Auction Event: February 16-18, 2026
Marcus & Millichap is proud to present The Rambler Hotel, an upscale 18-Suite boutique hotel located in Downtown Memphis, TN. The property is being offered Fee Simple Unencumbered of Debt or Management. This historic revitalization was originally constructed in 1900 and had an extensive renovation in 2021 to its present state as an apartment-style lodging accommodation. The property was a Finalist at the 2022 Building Memphis Awards for Best Renovation, validating both execution quality and architectural relevance.
The property offers a distinctive experience with spacious loft-style units averaging 800 sq. ft., complete with full kitchens and comfortable living areas—ideal for business travelers and extended stays. Located in the vibrant & growing South Main Arts District, the hotel benefits from its proximity to cultural landmarks, Beale Street, the Mississippi River, and the National Civil Rights Museum. The Rambler hotel represents an attractive easy to manage apartment style investment with above market multifamily NOI and healthy in-place RevPAR of $126 with potential upside with a hands-on management and economies of scale from a regional/local presence.
A retail bank tenant occupies the ground floor on a long term lease providing in-place income that enhances overall yield stability with an additional 2,200 square feet available to lease out.
Starting Bid: $900,000
Auction Event: February 16-18, 2026
Marcus & Millichap is proud to present The Rambler Hotel, an upscale 18-Suite boutique hotel located in Downtown Memphis, TN. The property is being offered Fee Simple Unencumbered of Debt or Management. This historic revitalization was originally constructed in 1900 and had an extensive renovation in 2021 to its present state as an apartment-style lodging accommodation. The property was a Finalist at the 2022 Building Memphis Awards for Best Renovation, validating both execution quality and architectural relevance.
The property offers a distinctive experience with spacious loft-style units averaging 800 sq. ft., complete with full kitchens and comfortable living areas—ideal for business travelers and extended stays. Located in the vibrant & growing South Main Arts District, the hotel benefits from its proximity to cultural landmarks, Beale Street, the Mississippi River, and the National Civil Rights Museum. The Rambler hotel represents an attractive easy to manage apartment style investment with above market multifamily NOI and healthy in-place RevPAR of $126 with potential upside with a hands-on management and economies of scale from a regional/local presence.
A retail bank tenant occupies the ground floor on a long term lease providing in-place income that enhances overall yield stability with an additional 2,200 square feet available to lease out.
PROPERTY FACTS
| Price | $1,247,796 CAD | Lot Size | 0.40 AC |
| Price Per Room | $69,322 CAD | Building Size | 30,400 SF |
| Sale Type | Investment | No. Rooms | 18 |
| Property Type | Hospitality | No. Stories | 3 |
| Property Subtype | Hotel | Year Built/Renovated | 1900/2021 |
| Building Class | B | Corridor | Interior |
| Zoning | SM | ||
| Price | $1,247,796 CAD |
| Price Per Room | $69,322 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.40 AC |
| Building Size | 30,400 SF |
| No. Rooms | 18 |
| No. Stories | 3 |
| Year Built/Renovated | 1900/2021 |
| Corridor | Interior |
| Zoning | SM |
AMENITIES
- Bus Line
- Commuter Rail
- Pool
- Signage
- On-Site Retail
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
- Hot Tub
- Fully-Equipped Kitchen
- Multi-Room Suites
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 18 | $449.21 CAD | - |
1 1
Walk Score®
Very Walkable (84)
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 00-2118-B0-0001C | Improvements Assessment | $7,165,815 CAD |
| Land Assessment | $455,307 CAD | Total Assessment | $7,621,122 CAD |
PROPERTY TAXES
Parcel Number
00-2118-B0-0001C
Land Assessment
$455,307 CAD
Improvements Assessment
$7,165,815 CAD
Total Assessment
$7,621,122 CAD
CONTACTS
-
Alexandre Duong -
Lucas Jalenak -
Ian Grusd -
Connor Curtin -
Bryce Dunks -
Marcus & Millichap
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Auction - Feb 16-18 | The Rambler | 400 South Main Street
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