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Motel 6 Tempe, AZ - Phoenix - Priest Dr 1720 S Priest Dr 131 Room Hotel Tempe, AZ 85281 $17,449,000 CAD ($133,198 CAD/Room) 9.30% Cap Rate
INVESTMENT HIGHLIGHTS
- Close proximity of Arizona State University (ASU) and the vibrant Mill Avenue District which offers restaurants, shops, and entertainment.
- 3 Stories, Exterior Corridor Property with 131 guest rooms situated on 2.25 acres in Tempe, Arizona.
- Priced well at an 9.27% cap rate based on 2024 revenues.
- 4 miles away from Sky Harbor International Airport and a 30 minutes’ drive from Phoenix-Mesa Gateway Airport.
- Well performing asset that still leaves room for expense optimization to increase new operators bottom line.
- Currently operated by a management company, providing an opportunity for a hands-on operator to improve expense control and optimize revenues.
EXECUTIVE SUMMARY
- Well located property within close proximity of Arizona State University (ASU) and the vibrant Mill Avenue District which offers restaurants, shops, and entertainment.
- Located only 4 miles away from Sky Harbor International Airport and a 30 minutes’ drive from Phoenix-Mesa Gateway Airport.
- Three Stories, Exterior Corridor Property with 131 guest rooms situated on 2.25 acres in Tempe, Arizona.
- Well performing asset that still leaves room for expense optimization to increase new operators bottom line.
- Priced well at an 9.27% cap rate based on 2024 revenues
- Currently operated by a management company, providing an opportunity for a hands-on operator to improve expense control and optimize revenues.
- Located only 4 miles away from Sky Harbor International Airport and a 30 minutes’ drive from Phoenix-Mesa Gateway Airport.
- Three Stories, Exterior Corridor Property with 131 guest rooms situated on 2.25 acres in Tempe, Arizona.
- Well performing asset that still leaves room for expense optimization to increase new operators bottom line.
- Priced well at an 9.27% cap rate based on 2024 revenues
- Currently operated by a management company, providing an opportunity for a hands-on operator to improve expense control and optimize revenues.
PROPERTY FACTS
| Price | $17,449,000 CAD | Lot Size | 2.25 AC |
| Price Per Room | $133,198 CAD | Building Size | 33,174 SF |
| Sale Type | Investment | No. Rooms | 131 |
| Cap Rate | 9.30% | No. Stories | 3 |
| Property Type | Hospitality | Year Built | 1977 |
| Property Subtype | Hotel | Parking Ratio | 5.43/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Zoning | GID - General Commercial Zone | ||
| Price | $17,449,000 CAD |
| Price Per Room | $133,198 CAD |
| Sale Type | Investment |
| Cap Rate | 9.30% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.25 AC |
| Building Size | 33,174 SF |
| No. Rooms | 131 |
| No. Stories | 3 |
| Year Built | 1977 |
| Parking Ratio | 5.43/1,000 SF |
| Corridor | Exterior |
| Zoning | GID - General Commercial Zone |
AMENITIES
- Pool
- High Speed Internet Access
- Patio
- Public Access Wifi
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 131 | $111.67 CAD | - |
1 1
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $11,102 CAD | Total Assessment | $583,337 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$11,102 CAD
Improvements Assessment
$0 CAD
Total Assessment
$583,337 CAD
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Motel 6 Tempe, AZ - Phoenix - Priest Dr | 1720 S Priest Dr
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