Property Address: 6475 Payne Lane
Olive Branch, MS 38654
Contact: Diana M. Skufca, Owner
Contact Email: email@example.com
Contact Telephone: (901) 371-1926
Contact Toll-free: n/a
Contact Fax: n/a
Property URL: https://www.greengatesuites.co/
Date Business Established: n/a
Trade Association Affiliations: n/a
Financials Verified: Yes
Area Description: Olive Branch, MS is a rapidly expanding suburb of Memphis. This property is situated 3 miles from I-269, which connects to I-40. Memphis International Airport is an easy 30 minute drive. There are major hospitals and leading industries such as FedEx and International Paper 30-40 minutes away. Memphis is a major travel connecting hub that offers its own share of tourist sites, such as Beale Street and Graceland. Business travelers and tourists often prefer to stay outside the city limits and this location is ideal.
Site Description: This is a 6 acre site located in a mostly rural setting. The land is gently rolling with a mix of trees and open pasture. The property is fenced and cross-fenced with horse-quality wood fencing and some wire. There is a 36×36 shop fully wired and lighted with 110 and 220 volt outlets. A 40 ft. implement shed and horse barn is also lighted and wired for 110. The barn has 4 stalls, tack room, hay storage area and water connection. This 6 acre site is bordered by a medium upscale neighborhood of new homes that range in price from $300,000 to $400,000. The local schools attract higher wage earners with families who desire an above average education for their children. The area is quiet and inviting with many great places to walk, including a neighborhood lake with walking trail.
Structural Description: The house is 1-story, with 4000 square feet of heated space. It has a total of 4 bedrooms and 4 full baths. The B&B side has 2 suites, each with a private bathroom. It is separated from the main house by a locked door. Guests have their own entrance and parking area. Guest rooms have separate thermostats for heat and air. The sunroom has a mini-split system and is connected to both guest rooms. The main part of the house has a large kitchen, family theatre, hearth room, 15×25 master bedroom with salon bath, bedroom with another full bath, study, mudroom, and separate laundry room. There are hardwood and tile floors throughout. Countertops are solid surface in all the bathrooms and formica in the kitchen. Home exterior is all brick and stone.
Offering: This property is being offered at $560,000. Some furnishings may be included at that price. A $5000 cash bonus will be paid at closing. The property is currently occupied. Guests are booked in both rooms until the middle of June. Showing is by appointment only to serious inquiries only. Interested parties are asked to provide a pre-approval letter or other proof of funds prior to showing.
- Occupancy: 80-100%
- Average Daily Rate: n/a
- Income from Room Sales: $24,000-$40,000
- Property Taxes: $2,000
- Electric: $300-$400
- Water & Sewer: n/a
- Gas: $200
- Insurance: $2,200