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1365 Grant Rd Tucson, AZ 85745

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For Sale
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148-key hotel, high ROI potential.

Property size:
91,308 SF

Property Features for 1365 Grant Rd

General Information

Property type
Motels
Square Feet
91,308 SF
Lot Size
259,182 SF

Building Details

Year Built
1967
Buildings
2
Stories
2

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Listing Contact
Jigar Jay Desai
Jigar Jay Desai

Listing Agency: NewGen Advisory Phoenix Listing Agent: Jigar Jay Desai

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This exceptional redevelopment opportunity presents the Grand Luxe Hotel & Resort (GLH Hotel), a 91,308 square foot property situated on 5.95 acres in Tucson, Arizona (1365 W Grant Rd, 85745). Currently operating as a 148-key hotel with 60% occupancy as of December 31, 2023, the property boasts a strong NOI of $962,932 and a compelling 13.96% cap rate, priced at $6,900,000 ($75.57/sq ft and $46,621.62/key). Built in 1967, this two-story, two-building complex features ample parking (520 spaces) and is zoned I-1. The property's prime location near Interstate 10, the University of Arizona, and downtown Tucson offers significant potential for various adaptive reuse projects, including affordable housing, student housing, or a non-profit shelter. The existing infrastructure includes a 16,000 sq ft banquet facility and a leased restaurant generating over $13,000 monthly income. A liquor license is included in the sale. All rooms feature adjoining doors, facilitating unit combination. This is a fee-simple ownership with no ground lease. The city actively supports conversion projects due to Tucson's housing shortage. This presents a unique chance to capitalize on a strong cash flow while exploring diverse redevelopment options.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Savage automotive Auto Repair Shop Angry Crab Shack ... Restaurant Grand Luxe Hotel ... Hotel & Motel Hotel Hotel & Motel

Suggested Use

Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Tucson
County
Pima
State
Arizona
Longitude
-110.9938559
Latitude
32.249874

FAQs

What type of property is this?
Motel - 148-key hotel, high ROI potential.
Where is this motel located?
The property is located at 1365 Grant Rd Tucson, AZ.
What is the asking price?
The asking price for this property is $6,900,000.
What are key features of this property?
This property features: Prime location in central Tucson, near I-10, the University of Arizona, and downtown.; Excellent price for hotel owner/operator or adaptive reuse (affordable housing, student housing).; Strong monthly income exceeding $13,000 from the Angry Crab BBQ restaurant lease.
(520) 664-4091 Call to check price and availability
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