Catylist ID: #30273586
Cloud Springs Lodge
Hospitality for SaleAlso listed as Retail-Commercial, Multi-Family
|Catylist Listing ID:||30273586|
|Property Subtypes:||Extended Stay, Motel, Other|
|Number of Units:||120 Units|
|Building Size (RSF):||39,440 SF|
|Gross Building Area:||See Agent|
|Gross Land Area:||6.02 Acres|
|Unit Price:||$29,166.67 Per Unit|
|Property Use Type:||Investment, Vacant/Owner-User, Business|
|Name of Establishment:||Cloud Springs Lodge|
|Sale Terms:||Cash to Seller|
Overview / Comments
Cloud Springs Lodge is an operating extended stay motel with 120 rooms sitting on approximately 6 acres, with excellent visibility and accessibility to Interstate 75 at Cloud Springs Road. Exit 353 is the Gateway to North Georgia, the first exit south of the Tennessee border, home to Costco, Cabela’s, Gateway Mall & Business Center, shops, restaurants, and convenience stores.
Built in 1980, the motel features a two story, L shaped layout with exterior hallways and stairs. Amenities include a courtyard pool and patio.There is ample onsite parking for occupants. Owner reports net operating income at 7.5% capitalization rate at list price.
In addition to pulling travelers off of I-75, Cloud Springs road is key to local commuter traffic. The property faces northbound traffic on I-75 with daily traffic of nearly 100,000 vehicles per day.
Redevelopment opportunities include upgrading existing facilities or conversion to efficiency apartments. New construction is also feasible for new hotel development, travel center or truck stop, fast casual restaurants, retail, multi-family, or some combination.
Additional land, approximately 2 acres, might also be purchased from separate owner.
|Taxing Authority:||Catoosa County|
|Retail Clientele:||General, Family, Business, Traveler, Recreation, Other|
|Property Located Between:||I-75 and Larry Drive|
|Largest Nearby Street:||I-75 frontage road|
|Feet of Frontage:||950|
|Highway Access:||About 1,500ft from I-75 Exit 353 ramp.|
|Airports:||8.6 mi (15 mins) to CHA|
|Site Description:||The property is mostly level with a slope up to its eastern boundary.|
|Area Description:||This exit is well-known for the Costco Warehouse which was established in October 2010 and Cabela’s recreation retail storefront which opened in the fall of 2015.|
|Total Number of Buildings:||2|
|Number of Stories:||2|
|Water Recreation:||Outdoor Pool|
|Parking Description:||Ample free onsite parking for occupants.|
|Lot Depth:||500 (Irregular shape)|
|Sewer Type:||Municipal, Other|
|Proximity:||1 mile||3 miles||5 miles|
|The information presented herein is provided as is, without warranty of any kind. Neither Greater Chattanooga REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.|