New Marriott Hotel Investment
SEC of E Rio Salado Pkwy. & S Perry Ln Tempe, AZ 85281
SEC of E Rio Salado Pkwy. & S Perry Ln, Tempe, AZ, 85281
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For Sale
Contact for pricing
New construction Marriott Hotel on 99-year ground lease for sale.
Property Size81,357 SF
Price / SF$92.19
Days on Market1887
Property Features for SEC of E Rio Salado Pkwy. & S Perry Ln
General Information
- Standard status
- Active
- Size
- 81,357 SF
- Property subtype
- Retail
Listing Agency
Colliers - Phoenix, Arizona
(949) 724-5561
Listed by
Paul Holland · License #SA022775000
Source
Crexi
Added: May 21, 2021 Updated: Jul 10 at 3:40 pm Checked: Jul 20 at 6:16 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers - Phoenix, Arizona
Investment Insights
Based on property information with market context.
This is an opportunity to purchase a newly constructed, single-tenant, absolute NNN leased Marriott Hotel. The property is situated on a 99-year ground lease. Located within 1.5 miles of Arizona State University, the location is across from Tempe Marketplace and benefits from proximity to Loop 202 & Loop 101. The property is less than a mile from the renovated Riverview Baseball Complex and Sloan Park, home to the Chicago Cubs Spring Training Facility. The offering is part of a larger mixed-use development that includes 6 freestanding retail buildings. This provides synergies to each use and complements the surrounding developments with Arizona State University, Tempe Marketplace, and the Chicago Cubs Spring Training Facility. The property provides 99 years of passive income with 2% annual increases and zero landlord obligations. The property size is 81357 square feet.
Key Highlights
- Brand new construction single tenant absolute NNN leased Marriott Hotel.
- 99‑year ground lease providing generational quality real estate.
- Located within 1.5 miles of Arizona State University.
Local Financial Insights For Hotel Hospitality
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.22M | $15.00 |
| − Vacancy | −$152.5k | −$1.88 |
| EGI | $1.07M | $13.13 |
| − OpEx | −$560.6k | −$6.89 |
| NOI | $507.2k | $6.23 |
81,357 SF · lease $15.00/SF/yr · vacancy 12.50% · expense 52.50%
Alternative Uses
Best Use
Hotel Hospitality
$7.25M
$6.34M – $8.45M
NOI $507,210 @ 7.0% cap · market cap 6.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$25.58M
$22.39M – $29.85M
NOI $1,790,864 @ 7.0% cap · market cap 23.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Hotels
Similar For Sale Nearby
FAQs
What type of property is this?
Hotel - New construction Marriott Hotel on 99-year ground lease for sale.
Where is this hotel located?
The property is located at SEC of E Rio Salado Pkwy. & S Perry Ln Tempe, AZ.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: Brand new construction single tenant absolute NNN leased Marriott Hotel.; 99‑year ground lease providing generational quality real estate.; Located within 1.5 miles of Arizona State University.
