1720 Priest Dr, Unit 2, Tempe, AZ 85281-6205
- Motels
- 6,840 SF
- 2.08 lot acres
Current Use by Public Records
- Motel 6 Tempe, AZ – Phoenix Airport – Priest Dr / Hotel & Motel
- Amazon Hub Locker - Solution / Postal Service / Courier Service
Property Details for 1720 Priest Dr
- Year built
- 1977
- Construction
- CONCRETE
- Lot size
- 2.08 lot acres
- Zone code
- I-1
- Property type
- Motels
- APN
- 124-58-078
- APU
- 12458078
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 9, 2022 | $8,292,683 | Marana 3 LLC | G6 Hospitality Property LLC | Special Warranty Deed | $7.9M · Ni Capital II LLC |
| Aug 10, 2017 | — | G6 Hospitality Property LLC | — | Grant Deed · related | $2,010M · Jp Morgan Chase Bk |
| Nov 6, 2012 | — | G6 Hospitality Property LLC | Motel 6 Operating LP | Quit Claim Deed · related | — |
| Feb 8, 2008 | $4,332,232 | Motel 6 Operating | Us Bank NA | Grant Deed | — |
| Feb 8, 2008 | — | Motel 6 Operating | M6 Remainder II LLC | Grant Deed · related | — |
| Feb 17, 1998 | $42,600 | M6 Remainder #2 LLC | Motel 6 Operating LP | Trustees Deed | $69.8M · Credit Lyonnais |
| Feb 17, 1998 | $4,797,600 | State Street Bank & Trust Co | Motel 6 Operating LP | Trustees Deed · related | — |
| — | — | G6 Hospitality Property LLC | — | Deed Of Trust · related | $1,800M · German Am Cap |
Description
This exceptional 131-key motel in Tempe, Arizona presents a compelling investment opportunity. Boasting 98,106 square feet across three stories, this exterior corridor property sits on a 2.25-acre lot and is priced at $13,000,000, representing a $132.51 per square foot cost. Built in 1977, the property (APN: 124-58-078, 124-58-079B) benefits from a highly desirable GID zoning designation. Its prime location offers convenient access to Arizona State University (ASU) and the bustling Mill Avenue District, known for its diverse dining, shopping, and entertainment options. Furthermore, its proximity to Sky Harbor International Airport (4 miles) and Phoenix-Mesa Gateway Airport (30-minute drive) enhances its appeal to a wide range of travelers. The motel's current performance demonstrates strong potential, with room for expense optimization and revenue enhancement under new ownership. Currently managed by a third-party, this asset offers a hands-on operator the chance to significantly improve profitability. The asking price reflects an attractive 11.3% cap rate based on the trailing twelve months' revenue. This is a rare opportunity to acquire a well-located, established motel in a thriving market.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $7,450,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $4,973,000
- AI Estimate
- $4,799,000
Market price range: $1.11M - $4.97MMarket price range: $892k - $4.80M -
Alternative Use
- Use
- Estimation
- INDUSTRIAL (GENERAL)
- $9,985,000
- RESTAURANT
- $4,770,000
- AUTO REPAIR, GARAGE
- $4,700,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Tempe
- County
- Maricopa
- State
- Arizona
- Longitude
- -111.961
- Latitude
- 33.4093
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
