Improved Mixed-Use Land for Sale in Unicoi, Tennessee

185 Golf Course Rd Unicoi, TN 37692

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$799,900
5.18 acres
Active sale$100k dropEst $4,817/mo

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

40,527
Sq feet
1973
Built

Directions

Okalona Rd exit 27 to S Roan Street Left onto Golf Course Road

Property details

Coordinates
36.2297, -82.33
Zoning
R-1
Elevation
1,844 feet
MLS Number
TVARMLS 9965256
Date Posted

Parcels

  • 005o A 001.02

This 5.18-acre property is located at 185 Golf Course Rd in Unicoi, TN 37692 with latitude 36.2297 and longitude -82.33. The property is currently available for sale for $799,900. It has a 40,527 sq ft structure built in 1973. Listing data is sourced from Tennessee Virginia Regional Multiple Listing Service # 9965256.

Verify sale details at the property source or contact Bridge Pointe Real Estate JC at (423) 226-6101.

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Copyright (C) 2024 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Updated . Checked 2 hours ago. Parcel data by Regrid.

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