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Baymont by Wyndham Memphis East 6020 Shelby Oaks Dr 97 Room Hotel Memphis, TN 38134 $2,834,860 CAD ($29,225 CAD/Room)
Investment Highlights
- Multifamily conversion opportunity!
- Call listing broker Lea Heilig at 901-767-1998 to inquire
- Visit our dedicated listing website for floorplans and more information
Executive Summary
Property Description
80-Unit Apartment Redevelopment Opportunity
Bartlett, TN | Memphis MSA
Vacant 97-key hospitality asset
Year Built: 1985
Preliminary 80-unit apartment conversion concept
New roof installed and significant remediation performed
Existing elevator and common-area infrastructure in place
Asking Price: $2,000,000 I $25,000 per Proposed Units
Proforma NOI: $405,000
?Projected Cash-on-Cash Return: 19.8%
Yield on Cost at Stabilization: 8.0% *
* All projections should be independently evaluated and verified
INVESTMENT RATIONALE
?• Significant Discount to Replacement Cost - Offered at $25,000 per proposed unit versus estimated New Construction costs of $175,000 - $195,000+/Unit
• Adaptive Reuse Economics - Existing structure, elevator, parking and common area infrastructure may reduce development costs versus ground-up construction
?• Supply-Constrained Submarket - Bartlett, one of Memphis' most desirable suburbs has limited multifamily inventory, favorably demographic trends, and virtually no competing new supply beyond the final phase of The Westerly Apartments currently underway
• Differentiated Housing Product – Proposed studio and one-bedroom unit mix targets demand from workforce renters, young professionals, students, and single-person households in a market dominated by aging conventional apartment communities
• Clear Redevelopment Path – Following a 2022 exterior fire with no reported structural fire damage, substantial remediation was performed, a new roof was installed, preliminary conversion plans were prepared, and the Property remains active within the Neighborhood Preservation Act process supporting continued rehabilitation.
80-Unit Apartment Redevelopment Opportunity
Bartlett, TN | Memphis MSA
Vacant 97-key hospitality asset
Year Built: 1985
Preliminary 80-unit apartment conversion concept
New roof installed and significant remediation performed
Existing elevator and common-area infrastructure in place
Asking Price: $2,000,000 I $25,000 per Proposed Units
Proforma NOI: $405,000
?Projected Cash-on-Cash Return: 19.8%
Yield on Cost at Stabilization: 8.0% *
* All projections should be independently evaluated and verified
INVESTMENT RATIONALE
?• Significant Discount to Replacement Cost - Offered at $25,000 per proposed unit versus estimated New Construction costs of $175,000 - $195,000+/Unit
• Adaptive Reuse Economics - Existing structure, elevator, parking and common area infrastructure may reduce development costs versus ground-up construction
?• Supply-Constrained Submarket - Bartlett, one of Memphis' most desirable suburbs has limited multifamily inventory, favorably demographic trends, and virtually no competing new supply beyond the final phase of The Westerly Apartments currently underway
• Differentiated Housing Product – Proposed studio and one-bedroom unit mix targets demand from workforce renters, young professionals, students, and single-person households in a market dominated by aging conventional apartment communities
• Clear Redevelopment Path – Following a 2022 exterior fire with no reported structural fire damage, substantial remediation was performed, a new roof was installed, preliminary conversion plans were prepared, and the Property remains active within the Neighborhood Preservation Act process supporting continued rehabilitation.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $2,834,860 CAD | Building Size | 43,710 SF |
| Price Per Room | $29,225 CAD | No. Rooms | 97 |
| Sale Type | Investment | No. Stories | 3 |
| Property Type | Hospitality | Year Built/Renovated | 1985/2022 |
| Property Subtype | Hotel | Parking Ratio | 4.58/1,000 SF |
| Building Class | C | Corridor | Interior |
| Lot Size | 2.28 AC | ||
| Zoning | EMP | ||
| Price | $2,834,860 CAD |
| Price Per Room | $29,225 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.28 AC |
| Building Size | 43,710 SF |
| No. Rooms | 97 |
| No. Stories | 3 |
| Year Built/Renovated | 1985/2022 |
| Parking Ratio | 4.58/1,000 SF |
| Corridor | Interior |
| Zoning | EMP |
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 9 | $110.56 CAD | - |
| Guest Room | 88 | $80.79 CAD | - |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 08-9044-0-0157 | Improvements Assessment | $1,683,283 CAD |
| Land Assessment | $163,345 CAD | Total Assessment | $1,846,628 CAD |
Property Taxes
Parcel Number
08-9044-0-0157
Land Assessment
$163,345 CAD
Improvements Assessment
$1,683,283 CAD
Total Assessment
$1,846,628 CAD
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Baymont by Wyndham Memphis East | 6020 Shelby Oaks Dr
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