Golden Group Real Estate, as exclusive agent for the Seller, is pleased to present an exceptional multifamily conversion opportunity in Knoxville, Tennessee, the third largest city in the state, with the nine-county metro area comprising close to 900,000 residents. Located off Interstate 40, this hotel is 5 miles from the University of Tennessee and just 3.4 miles or 6 minutes’ drive from everything downtown Knoxville has to offer. This 23,631 SF property, known as The Inn of Knoxville, originally built in 1976 as a motel, offers 186 studio apartments (285 SF each) and is zoned C-G-1 (General Commercial Zoning District). Multi-family dwelling is a permitted use in this zoning designation. Subject property consists of three irregular-shaped parcels of land that total approximately 3.9 acres and is currently developed with three structures for commercial purposes which includes two three-story motel buildings and a restaurant building. The motel buildings total approximately 17,952 square feet and the restaurant totals 5,679 square feet. Partially operational hotel (60 rooms of Building #1 is being rented by guests on extended stay basis) comes with existing in-place cash flow. This cash flow will help to offset some of the construction costs associated with the conversion of the vacant side of the property (Building # 2 and the vacant restaurant building) during the initial stage of redevelopment. The rent from Building # 1 is ranged from $350 to $500 a week for 60 rooms that are currently being used. At closing the Seller will provide the Buyer /developer a full package of required permits, plans, survey, feasibility analysis, Phase 1 report along with the city’s approved multifamily zoning – a great deal of money and time that the buyer does not have to spend! Positioned for conversion to multifamily housing, this property presents an ideal opportunity for investors seeking to repurpose hotel space. With its efficient layout and design, this property is well-suited for rental apartment demand, as well as student housing, or extended stay in the growing Knoxville area.