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    1365 Grant Rd Tucson, AZ 85745

    Sponsored
    For Sale
    $6,900,000

    148-key hotel, high ROI potential.

    Property size:
    91,308 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    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 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

    HighLights

    • 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.
    • Liquor license included in the sale.
    • Large 16,000 sq ft banquet facility.
    • All rooms feature adjoining doors for easy unit combination.
    Property Profile Location Intelligence

    Current Use by Public Records

    Savage automotive Mechanic Angry Crab Shack ... Seafood Restaurant Grand Luxe Hotel ... Hotel Hotel Hotel

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Building Supply Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    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

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    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.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1365 Grant Rd Tucson, AZ 85745
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