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185 Golf Course Road, Unicoi, TN 37692

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For Sale

$799,900

40,527 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Other Residential
    Property type

  • $19.74
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

Unique Investment Opportunity for a creative and open minded investor...... Short term seller financing will be considered 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
MLS# 9965256

Courtesy Of The Property Experts Gville

(423) 787-0040

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Dock
  • Architecture Style
    Other
  • Cooling System
    Wall Unit(s) A/C
  • Exterior Type
    Block, Brick
  • Lot Size
    5.18 Acres

Map and Directions

Directions to 185 Golf Course Road, Unicoi, TN 37692

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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