10220 N Metro Pky E - Hospitality FOR SALE


Phoenix, AZ 85051
$16,000,000 USD
480-567-6853
10220 N Metro Pky E, Phoenix, AZ for Sale
$16,000,000 USD
Hospitality - FOR SALE
1/22
null | 7.62% Cap Rate

10220 N Metro Pky E
Phoenix, AZ 85051


HIGHLIGHTS

  • Value Add Opportunity – Large Upside in Operations
  • Close Proximity to many nearby attractions such as Castles & Coasters, Various Professional Sports Teams, and Casinos
  • Located along the I-17, 40,000 Cars pass the Hotel Daily
  • $800M State Investment into Metro Center Redevelopment
  • Over 19 Million tourist Visited Arizona in 2023. $4.5B Economic Impact

OVERVIEW

To view our offering summary and due diligence, please visit https://doubletreephoenixnorth.sharplaunch.com/ or contact Josh Tammen at (480) 567-6853 Marcus & Millichap has been chosen to exclusively market for sale the DoubleTree Phoenix North, a five-story full service hotel located right next door to the Metro Center Mall which is currently undergoing a $850M Redevelopment. Guest rooms include Wi-Fi, Smart TV, mini-refrigerator, Keurig coffee maker, and numerous plug and USB outlets. The property is ideally located 16 miles Northwest of Phoenix Sky Harbor Airport and nearby to many main attractions/businesses. Phoenix is host to several museums and sporting venues, including the Footprint center (home to NBA's Phoenix Suns) and Chase Field (home to MLB's Diamondbacks), among others. Nearby attractions/businesses include Phoenix Zoo, Castles & Coasters, and Taiwan Semiconductor. Phoenix is also the Fifth-largest city by population in the U.S. The DoubleTree Phoenix North represents the opportunity to acquire a Premium Branded Hilton Hotel in a desirable market near several demand drivers. (The DoubleTree Phoenix North is located on a Ground Lease. Options to Purchase the Land are Available)

FOR SALE DETAILS

PRICE

$16,000,000 USD

PRICE/SF

$89 USD /SF

# OF ROOMS

284

PRICE/ROOM

$56,338 {currency}

CAP RATE

7.62%

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

DoubleTree by Hilton Hotel Phoenix North

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

5

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1982

PARKING SPACES

300

LAND DETAILS

LAND ACRES

5.38 AC

LAND SF

234,353 SF

ZONING

C-R

APN/PARCEL ID

149-16-398A,149-16-398B

ASK ABOUT THIS PROPERTY

Josh TammenMarcus & MillichapMore Info
480-567-6853

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Josh TammenMarcus & MillichapMore Info
480-567-6853

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.