Hotel-Motel
La Quinta Inn Phoenix North
2510 W Greenway Rd, Phoenix, AZ 85023
Listing Price: $13,000,000
Investment Overview
Marcus & Millichap has been chosen to exclusively to offer for sale, the 146 room La Quinta Phoenix North. This hotel presents a compelling investment opportunity in the vibrant city of Phoenix, Arizona.
There are a range of amenities such as a breakfast area, commercial kitchen, meeting space, two outdoor pools with bar, fitness center, and two tennis courts which caters to both leisure and business travelers. With its strategic location in the northern part of Phoenix, guests have easy access to major highways and nearby attractions such as Castles N’ Coasters and Six Flags Hurricane Harbor.
The Phoenix metropolitan area, also known as “The Valley”, is located in Maricopa county which is nearly the size of New Hampshire. The population is over 4.4 million people and continues growing every year making Phoenix one of the top 10 largest cities in the United States. The Phoenix area consists of more than 20 cities that are accessible by Interstate 10, Interstate 17, US Route 60, Loop 101, 202, and 303.
Phoenix plays an important role in the economy of the Southwestern region of the country. Some of the largest companies headquartered in Phoenix are Banner Health, PetSmart, US Airways, and ON Semiconductor. Intel is a prominent company that has been in Phoenix for over three decades. March of 2021 Intel announced a $20 billion expansion of their Chandler factory to manufacture microchips.
In 2019 the tourism industry of Phoenix brought in over $3 billion in revenue across 19 million visitors. The average stay at one of the valley hotels was three nights. The most popular activities for tourists were retail shopping, dining, and hiking. Phoenix is known to have some of the best golf courses in the country due to the weather in the spring and falls months. Golfers have an opportunity to play at one of the 170 courses in the area. In the summer months people can enjoy one of the seven lakes that are just under 100 miles from downtown Phoenix.
La Quinta Inn Phoenix North
Investment Highlights
- Quick access to one of Arizona's highest trafficked routes, Hwy 17, that sees over 230,000 vehicles per day.
- Opportunity for brand conversion with low liquidated damage costs from Wyndham.
- High acreage plot in a top 5 MSA that receives over 42 Million tourists per year.
- Absentee owned and managed with no official management structure. Opportunity for either owner operator or third party management.
- 39% RevPAR index for Upper-midscale and 64% Midscale RevPAR index indicating room for growth after rebrand or option to capitalize on down-brand.
- With amenities, amount of building on lot, and current key count, this property also provides a great opportunity for multifamily conversion.
Exclusively Listed By
Listing Price: $13,000,000
Investment Highlights
- Quick access to one of Arizona's highest trafficked routes, Hwy 17, that sees over 230,000 vehicles per day.
- Opportunity for brand conversion with low liquidated damage costs from Wyndham.
- High acreage plot in a top 5 MSA that receives over 42 Million tourists per year.
- Absentee owned and managed with no official management structure. Opportunity for either owner operator or third party management.
- 39% RevPAR index for Upper-midscale and 64% Midscale RevPAR index indicating room for growth after rebrand or option to capitalize on down-brand.
- With amenities, amount of building on lot, and current key count, this property also provides a great opportunity for multifamily conversion.
Investment Overview
Marcus & Millichap has been chosen to exclusively to offer for sale, the 146 room La Quinta Phoenix North. This hotel presents a compelling investment opportunity in the vibrant city of Phoenix, Arizona. There are a range of amenities such as a breakfast area, commercial kitchen, meeting space, two outdoor pools with bar, fitness center, and two tennis courts which caters to both leisure and business travelers. With its strategic location in the northern part of Phoenix, guests have easy access to major highways and nearby attractions such as Castles N’ Coasters and Six Flags Hurricane Harbor. The Phoenix metropolitan area, also known as “The Valley”, is located in Maricopa county which is nearly the size of New Hampshire. The population is over 4.4 million people and continues growing every year making Phoenix one of the top 10 largest cities in the United States. The Phoenix area consists of more than 20 cities that are accessible by Interstate 10, Interstate 17, US Route 60, Loop 101, 202, and 303. Phoenix plays an important role in the economy of the Southwestern region of the country. Some of the largest companies headquartered in Phoenix are Banner Health, PetSmart, US Airways, and ON Semiconductor. Intel is a prominent company that has been in Phoenix for over three decades. March of 2021 Intel announced a $20 billion expansion of their Chandler factory to manufacture microchips. In 2019 the tourism industry of Phoenix brought in over $3 billion in revenue across 19 million visitors. The average stay at one of the valley hotels was three nights. The most popular activities for tourists were retail shopping, dining, and hiking. Phoenix is known to have some of the best golf courses in the country due to the weather in the spring and falls months. Golfers have an opportunity to play at one of the 170 courses in the area. In the summer months people can enjoy one of the seven lakes that are just under 100 miles from downtown Phoenix.
Exclusively Listed By
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