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    11 7Th St Tempe, AZ 85281

    Sponsored
    For Sale
    Contact for pricing

    Luxury Hotel, Net Lease, High ROI

    Property size:
    290,383 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 290-room Westin Tempe hotel, a 17-story, 290,383 square-foot building on a 0.85-acre lot. Located at 11 E 7th St, Tempe, AZ 85281, this prime property boasts a 100% occupancy rate and a strong net operating income (NOI) of $7,000,000, resulting in a 6.09% cap rate. The asking price is $115,000,000, translating to $396.03 per square foot. The property benefits from a 25-year absolute net lease with four 5-year option periods and 2% annual rent increases, secured by a strong multi-unit franchisee. Its strategic location in Tempe, adjacent to Arizona State University (enrollment exceeding 112,100 students), offers exceptional access to a vibrant student population and a thriving urban environment. Proximity to Phoenix Sky Harbor International Airport (PHX) and the Valley Metro Rail further enhances its appeal. The hotel, completed in 2021, is a 4-star establishment, providing luxurious accommodations. Nearby attractions include Sun Devil Stadium, Desert Financial Arena, and Tempe Town Lake. This is a rare opportunity to acquire a high-performing, luxury hotel asset with significant long-term growth potential in a rapidly expanding market. The property's strong tenant, long-term lease, and built-in rent increases provide a stable and inflation-resistant investment.

    Property Features for 11 7Th St

    General Information

    Property type
    Hotels
    Square Feet
    290,383 SF
    Lot Size
    37,026 SF

    HighLights

    • Exceptional 25‑year absolute NNN sale‑leaseback opportunity with a strong multi‑unit operator.
    • Trophy site in Tempe, AZ's ASU area, offering high density and strong demographics.
    • Brand new, 17‑story Westin Hotel (290 rooms, rooftop pool/bar) built in 2021.
    • Tempe's rapid tech growth and Fortune 500 company expansion drive strong market fundamentals.
    • Managed by Crescent Hotels & Resorts, exceeding occupancy and performance projections.
    • Located in the Phoenix MSA, a top 50 place to live with significant population growth.
    Property Profile Location Intelligence

    Current Use by Public Records

    Cup of Joe Market ... Coffee Shop Terra Tempe Kitchen ... Restaurant Skysill Rooftop Lounge Lounge The Westin Tempe Hotel Encore Audio Visual Consultant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.9392662
    Latitude
    33.4229612

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    FAQs

    What type of property is this?
    Hotel - Luxury Hotel, Net Lease, High ROI
    Where is this hotel located?
    The property is located at 11 7Th St Tempe, AZ.
    What is the asking price?
    The asking price for this property is $115,000,000.
    What are key features of this property?
    This property features: Exceptional 25-year absolute NNN sale-leaseback opportunity with a strong multi-unit operator.; Trophy site in Tempe, AZ's ASU area, offering high density and strong demographics.; Brand new, 17-story Westin Hotel (290 rooms, rooftop pool/bar) built in 2021.
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    11 7Th St Tempe, AZ 85281
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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
    11 7Th St Tempe, AZ 85281
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