1307 E Main St
Mesa, AZ 85203
Motel 7 By OYO Near Phoenix Airport · Hospitality Property For Sale · 26 Rooms

The Frontier Motel is a 27-room apartment / motel property (26 rooms plus a three-bedroom apartment / office) located along the light rail in the heart of Mesa, Arizona. The property is located right on Main Street and is across the street from a light rail station. From the property, it is less than two miles down Main Street to the center of Downtown Mesa and the Mesa Arts Center, along with many cultural activities and museums (Arizona Museum of Natural History, Mesa Contemporary Arts, and the i.d.e.a Museum). Recent big news for the area is the emergence of the Arizona State University Mesa campus, with the new "hub for innovation" being approximately a mile and a half away. The property is also about one mile away from Pioneer Park, where there are great community activities such as the weekly Mesa Farmers Market & Flea. With quick access to light rail and multiple freeways, residents also have the ability to get to all parts of the metroplex with ease. Because of all of these things, downtown Mesa is rapidly growing and changing to be a hot spot and an incredibly desirable area for people to live and work. The Frontier Motel is comprised of 26 rooms and 1 three-bedroom apartment / office on 28,685 SF of land. The property has been operated as a weekly rental / motel and has been performing incredibly well. The current owner has done many upgrades to the property including plumbing upgrades, newer roof, tile flooring, and more. Prospective investors could continue to operate it similarly, or could convert the property to more market-rate apartments by doing further renovations. The site could also be redeveloped entirely in the future. This property has a lot of different options and is a strong performer in a location where this kind of cap rate is extremely hard to come by. Mesa continues to be one of the most sought after submarkets for new multifamily residential and mixed-use development with its proximity to the one of the nation's largest universities (both at the Mesa campus and the main Tempe campus approximately 6 miles to the west), its tremendous employment opportunities, and its convenient, centralized location in the heart of the metroplex.