Current Use by Public Records
- 66 Restaurant / Restaurant
Property Details for 2101 Navajo Blvd
- Year built
- 1948
- Lot size
- 2.64 lot acres
- Property type
- Hospitality properties
- Property subtype
- Motels
Description
This exceptional redevelopment opportunity presents a 35-key motel in Holbrook, Arizona, situated on a 2.64-acre lot (APN: 109-24-005A). The property, built in 1948 and consisting of two single-story buildings, is zoned commercial and offers significant upside potential. Currently operating as an independent motel, it requires complete renovation. However, a strong pro-forma NOI of $260,061 projects a compelling 23.64% cap rate at the asking price of $1,100,000. The property's location on Navajo Blvd in Holbrook, AZ 86025, provides easy access to Interstate 40, placing it strategically along a major travel corridor. Holbrook's proximity to the White Mountains and national parks like the Petrified Forest and Painted Desert ensures a consistent stream of tourists. The city's economic activity is further bolstered by the nearby West Camp Wind Farm. Post-pandemic, the Holbrook hotel market has shown resilience, with gross revenues matching or exceeding 2019 levels, indicating a robust and growing tourism sector. This presents a unique chance to capitalize on the area's tourism and the motel's redevelopment potential. A sophisticated valuation approach, utilizing Gross Rent Multiplier (GRM) and Price Per Key metrics specific to the Holbrook market, supports the asking price. This is an ideal investment for those seeking a high-return redevelopment project in a thriving tourist destination.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Holbrook
- County
- Navajo
- State
- Arizona
- Longitude
- -110.146
- Latitude
- 34.9244
