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Commercial JV on Hotel in Phoenix Az

$ 8,000,000
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25
ARV
Seller's estimated After Repaired Value (ARV). Your ARV will depend on your plans for the property. Always do your own due diligence. Then make an offer.
$10,000,000
Price
Seller's asking price. Your negotiation starts here. Make an offer. You may get a counter-offer to start negotiations. Make enough offers and you'll get some accepted.
$8,000,000
Repairs
Seller's repair estimate. Your repair budget will depend on your experience and on your plans for the property. Always best to visit the property to finalize your numbers. Then make an offer.
$100,000
Zestimate©
A Zestimate® home valuation is Zillow's estimated market value. It is not an appraisal. Use it as a starting point to determine a home's value.
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Comps
Comps are similar homes that have recently sold close to the subject property. Make sure to compare differences in size, condition, and features.
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Rent Zestimate©
A Rent Zestimate® is Zillow's estimated monthly rental price, computed using a proprietary formula. It is a starting point in determining the monthly rental price for a specific property.
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Subject Property and Comparables

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

Description

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
City:
State/County:
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

Active Life

Active Family Chiropractic
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Active Health
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Active Lifestyle Clinic
(4.03 miles)Active Lifestyle Clinic

Restaurants

The Peppermill Steakhouse
(3.1 miles)The Peppermill Steakhouse
Word Of Mouth Grill
(3.1 miles)Word Of Mouth Grill
Postino South Tempe
(2.38 miles)Postino South Tempe

Shopping

Phoenix Premium Outlets
(4.27 miles)Phoenix Premium Outlets
Chandler Fashion Center
(5.09 miles)Chandler Fashion Center
Arizona Mills
(2.32 miles)Arizona Mills

Transportation

AZ Elite Transportation
(6.81 miles)AZ Elite Transportation
Gigi's World Kids Taxi
(3.36 miles)Gigi's World Kids Taxi
Arizona Bus Company
(3.07 miles)Arizona Bus Company
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