Brand New 99 Yr Lease- Trophy Site near ASU Marriott Hotel 83 Room Hotel Tempe, AZ 85281 $7,500,000 ($90,361/Room) 3.53% Cap Rate
INVESTMENT HIGHLIGHTS
- Generational Once-in-a-Lifetime Brand New 99 Year Absolute NNN Ground Lease by Marriott Hotel
- Irreplaceable Locations in Front of Tempe Marketplace - Premiere Retail District within Tempe AZ
- Part of Arizona State University Trade Area (55K+ Students) - Tremendous Technology West Coast Hub
- Brand New 2021 Prototype Construction - Fairfield & Townplace Suites Flags - Annual 2% Rent Bumps
- Zero LL Duties - Longest Primary Term in Retail - Very Low Downside Risk (Value of Improvements)
- Marriott International Inc. (NASDAQ: MAR) is Global Lodging Leader (7600+) - Iconic World Brand!
EXECUTIVE SUMMARY
We are pleased to offer to qualified investors an opportunity to purchase a brand new construction single tenant absolute NNN leased Marriott Hotel on a 99 year ground lease. Located within 1.5 miles of Arizona State University, this trophy location is positioned directly across from the regions dominant shopping and entertainment destination (Tempe Marketplace) and further benefits from its proximity to Loop 202 & Loop 101. Additionally, the subject property is located less than a mile from the recently renovated Riverview Baseball Complex and Sloan Park which is home to the Chicago Cubs Spring Training Facility.
PROPERTY FACTS
| Price | $7,500,000 |
| Price Per Room | $90,361 |
| Sale Type | Investment |
| Cap Rate | 3.53% |
| Sale Condition | Ground Lease (Leasehold) |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 2.62 AC |
| Building Size | 40,408 SF |
| No. Rooms | 83 |
| No. Stories | 4 |
| Year Built | 2024 |
| Parking Ratio | 2.52/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | PCC2 |
AMENITIES
- Fitness Center
- Pool
- Restaurant
- High Speed Internet Access
- Patio
- On-Site Bar
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
- Hot Tub
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 2 | $343.00 | - |
| Guest Room | 81 | $244.00 | - |
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PROPERTY TAXES
| Parcel Number | 132-38-024 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,235,814 |
