11 7th St Tempe, AZ 85281-3605

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.