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Commercial JV on Hotel in Phoenix Az

$ 8,000,000
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Subject Property and Comparables

# Address Beds/Baths Sq. ft. Last Sale Date Last Sale Price


Joint venture to purchase hotel in Phoenix AZ. Need $900K for 4 year triple net lease on 130+ room hotel. Have contract with city to rent for $250K per month (operating cost $75/month) with possibility to renew for 6 additional months. Presently operating another hotel in Phoenix that has been at 90%+ occupancy for the last 8 months. Purchase price is $8M with lease amount applying to this.

Steven Carmen (719)375-5926

Address: 1660 East Elliot Road, Tempe, AZ, USA
Zip: 85284
Country: United States
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Property Id : 32384
Price: $ 8,000,000
Rooms: 139
Repairs Estimate?: 100000
After Repaired Value: 10000000
If Rented, Monthly Rent?: 250000
NOI (Net Operating Income): 2000000
walkscore42 / Car-Dependent more details here

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