Property Description

• More Listing Info

  AC:Wall Unit(s)	true
  Business Type:HotelMotel2	true
  Contract Info:Foreclosure	No
  Development Status:See Remarks37	true
  Electric Service:See Remarks36	true
  Exterior Finish:Block5	true
  Exterior Finish:Brick4	true
  General Property Description:Acres	5.18
  General Property Description:Annual Lease	0.0
  General Property Description:HOA YN	No
  General Property Description:Lease	No
  General Property Description:Lot Size2	693x 347x589x400irr
  General Property Description:Total SqFt Finished	40527.0
  General Property Description:Total SqFt Unfinished	0.0
  General Property Description:Zoning2	R-1
  Heating:See Remarks10	true
  Info Available:Aerial	true
  Info Available:Building Plan	true
  Info Available:Floor Plan	true
  Info Available:Legal4	true
  Info Available:Survey2	true
  Location Tax Legal Info:City Taxes	0.0
  Location Tax Legal Info:County Taxes	3583.69
  Location Tax Legal Info:Deed Book #	460
  Location Tax Legal Info:Deed Page #	578
  Other Equipment:See Remarks38	true
  Property Condition:Fixer	true
  Property Condition:Poor	true
  Remarks Misc:Directions3	Okalona Rd exit 27 to S Roan Street Left onto Golf Course Road
  Remarks Misc:Public Remarks2	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 Inn Renamed 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 6/6/2022 Johnson City Utility System will provide sewer service. Unicoi County will provide water service A 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 property Buyer/buyer's agent to verify
  Restrictions:See Remarks34	true
  Road Access:County Road	true
  Sale Includes:See Remarks35	true
  Sewer:See Remarks25	true
  Water:See Remarks12	true
  Videos:	(none)
  Virtual Tours:	(none)

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