10220 Metro Pkwy Phoenix, AZ 85051

This 284-key DoubleTree by Hilton hotel in Phoenix, Arizona, offers a compelling investment opportunity. Boasting a 5.80% current cap rate and a pro-forma cap rate of 11.30%, the property presents significant value-add potential. The five-story, 1.46-acre hotel, built in 1982 and renovated in 2019, enjoys a prime location near Metro Center Mall (undergoing an $850 million redevelopment) and major transportation arteries. With a current NOI of $1,219,720 and a pro-forma NOI of $2,370,253, this asset is situated just 16 miles from Phoenix Sky Harbor International Airport and close to numerous attractions, including the Phoenix Zoo, Castles & Coasters, and major sports venues. The property sits on a ground lease with 99 years remaining, with options to purchase the land available. The hotel features amenities such as Wi-Fi, smart TVs, mini-refrigerators, and Keurig coffee makers in each guest room. This is a rare chance to acquire a branded hotel in a rapidly growing market with substantial upside potential. The asking price is $16,000,000. The property's location benefits from high daily traffic volume (40,000 cars daily) along major interstates. Arizona's robust tourism sector (over 19 million visitors in 2023, generating a $4.5 billion economic impact) further enhances the investment's appeal.