For Auction
Asset Snapshot
Offering Summary
Marcus & Millichap is proud to present The Rambler Hotel, an upscale 18-Suite boutique hotel located in Downtown Memphis, TN. The property is being offered Fee Simple Unencumbered of Debt or Management. This historic revitalization was originally constructed in 1900 and had an extensive renovation in 2021 to its present state as an apartment-style lodging accommodation. The property was a Finalist at the 2022 Building Memphis Awards for Best Renovation, validating both execution quality and architectural relevance.
The property offers a distinctive experience with spacious loft-style units averaging 800 sq. ft., complete with full kitchens and comfortable living areas—ideal for business travelers and extended stays. Located in the vibrant & growing South Main Arts District, the hotel benefits from its proximity to cultural landmarks, Beale Street, the Mississippi River, and the National Civil Rights Museum. The Rambler hotel represents an attractive easy to manage apartment style investment with above market multifamily NOI and healthy in-place RevPAR of $126 with potential upside with a hands-on management and economies of scale from a regional/local presence.
A retail bank tenant occupies the ground floor on a long term lease providing in-place income that enhances overall yield stability with an additional 2,200 square feet available to lease out.
Due Diligence
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Cooperating Broker Fee
Eligible brokers may receive a 0.00% fee when representing the winning bidder.
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Buyer pays a minimum platform fee of 5% or $25,000 at closing.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
