Property Tour and Contact Detail Information:
Property tours are available by appointment on September 18 & 19 from 11AM to 4PM. Please contact the listing broker to schedule a tour of the property.
Investment Highlights:
Motivated Seller
Very Aggressively Priced as Motel must sell
The motel has been closed for several weeks, easy for a new owner to step in and re-open property
68 Units, Exterior Corridor, Limited Service Property
Great Motel for an Owner Operator
Knights Inn Franchise Available to New Operator
Motel only doing 21.4% of its Index according to STR
Report showing tremendous upside for a new buyer
Absentee Owners
Investment Overview:
This Knights Inn is a two- story, exterior corridor motel located in the City of Sierra Vista, Arizona. This 68-unit property leaves a tremendous opportunity for an owner operator who takes over this property and re-opens the motel. For the past month, the motel has been closed due to the current sellers terminating a lease that was on the property and their inability to reopen the motel because of other commitments that they have elsewhere.
The Knights Inn Sierra Vista, Arizona presents an excellent opportunity for an
For the past month, the motel has been closed due to the current sellers terminating a lease that was on the property and their inability to reopen the motel because of other commitments that they have elsewhere.
The Knights Inn Sierra Vista, Arizona presents an excellent opportunity for an owner operator to purchase a historically under-performing asset, due to lack of management and absentee ownership and convert this motel into a thriving business. The current sellers had leased out this motel in March 2017, but due to the lack of property maintenance had taken the motel back in August 2017 and kept the property closed, which reflected in the revenues after March.
This motel has been historically underperforming due to absentee management at the motel with a lack of marketing. The ownership group of property are multiple property owners and have not had the time to make the effort to push sales and marketing at this specific motel as it is the smallest asset in their portfolio.
When looking at the June 2017 Monthly STR report you can see that this motel is severely underperforming compared to its comp set at only 21.4 index points in RevPAR. This leaves an enormous amount of up
