159 Park Ave, Clifton, AZ 85533

Property Details for 159 Park Ave

Year built

1890

Property type

Retail properties & Spaces

Property subtype

Bars & Pubs

Description

This exceptional Clifton, Arizona property presents a lucrative investment opportunity. The combined 159 & 163 Park Ave addresses encompass a meticulously renovated, historic building offering a unique blend of hospitality and retail uses. Originally constructed in 1890 (163 Park Ave) and 1910 (159 Park Ave), the property underwent a complete renovation in 2020, boasting new plumbing, electrical systems, roofing, and flooring. The main building (163 Park Ave) totals 6,000 square feet, while a separate building (159 Park Ave) offers an additional 1,890 square feet, currently used as owner's quarters but easily adaptable as rental space. Nine spacious rooms, each with a private kitchen and bath, are complemented by two suites featuring claw-foot tubs. A thriving full-service bar with a patio and two pool tables adds significant revenue potential. A charming common area with a wood-burning stove, large table, and comfortable seating provides a welcoming atmosphere. The property sits on a combined lot size ranging from 4,792 to 6,098 square feet. Offered fully furnished (excluding artwork), this turnkey operation is ideal for a boutique hotel, bed and breakfast, or event venue. The property's strong financial performance is highlighted by a 10.9% cap rate, a net income of $455,395.80, and total expenses of $222,579.15. The asking price is $2,130,000. This is a rare chance to acquire a fully operational, high-performing hospitality business in a desirable Arizona location. The 14-foot ceilings on the first floor and 10-foot ceilings on the second floor add to the property's character and appeal.

Location Insight

City

Clifton

County

Greenlee

State

Arizona

Longitude

-109.298

Latitude

33.0562