Hotel-Motel

The Grand Highland Hotel

154 S Montezuma St, Prescott, AZ 86303

Listing Price: $2,750,000

Cap Rate
9.43%
Number of Rooms
12
RevPAR
$93
Gross SF
7,125
Price/Room
$229,167
RRM
7.38
Price/Gross SF
$385.96
Year Built
1991

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale The Grand Highland Hotel, a 12-room hotel located on Whiskey Row in the desirable Historic Downtown District of Prescott, Arizona. The Grand Highland Hotel is a two-story property consisting of 7,125 square feet, with an additional 325 square feet of storage on ground level and a 1,200 square-foot basement also used for storage and staff meeting space. The subject property consists of three 3,750 square-foot lots, with the hotel sitting on one lot and the other two lots designated to the hotels outdoor event/wedding space. Currently, guests having an event can rent out the entire property for the day or weekend.

The hotel is located within Downtown Prescott, a historic district recognized by the National Register of Historic Places. The city of Prescott represents Yavapai Countys major metropolitan area. Two significant contributing factors to Yavapai Countys recent and projected economic expansion are a favorable business environment and an excellent quality of life. The Grand Highland Hotel is situated along the main thoroughfare of Downtown Prescott (Highway 89/Montezuma Street) in an area called Whiskey Row, a stretch of street that features several saloons from the Gold Rush era that were rebuilt after being destroyed by a fire in 1900. The hotel is also minutes to attractions including the Sharlot Hall Museum, Buckys Casino, Thumb Butte Recreation Area, Watson Lake, Heritage Park Zoological Area, and the Prescott Fairgrounds, which features the annual Worlds Oldest Rodeo events.

Investment Highlights

  • Recently Renovated in 2019
  • Located in Historic Downtown Prescott, Along Whiskey Row
  • Extremely Desirable Location with High Barriers to Entry
  • Minutes to Sharlot Hall Museum, Bucky's Casino, Prescott Fairgrounds and More
  • Prescott Benefits from a Favorable Business Environment and Excellent Quality of Life
  • Property Includes 3 Recreated and Restored Event Venues

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    Vice President / Regional Manager

    License(s): AZ: BR675146000

    Arizona

Hotel-Motel

The Grand Highland Hotel

Listing Price: $2,750,000

Cap Rate
9.43%
Number of Rooms
12
RevPAR
$93
Gross SF
7,125
Price/Room
$229,167
RRM
7.38
Price/Gross SF
$385.96
Year Built
1991

Investment Highlights

  • Recently Renovated in 2019
  • Located in Historic Downtown Prescott, Along Whiskey Row
  • Extremely Desirable Location with High Barriers to Entry
  • Minutes to Sharlot Hall Museum, Bucky's Casino, Prescott Fairgrounds and More
  • Prescott Benefits from a Favorable Business Environment and Excellent Quality of Life
  • Property Includes 3 Recreated and Restored Event Venues

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale The Grand Highland Hotel, a 12-room hotel located on Whiskey Row in the desirable Historic Downtown District of Prescott, Arizona. The Grand Highland Hotel is a two-story property consisting of 7,125 square feet, with an additional 325 square feet of storage on ground level and a 1,200 square-foot basement also used for storage and staff meeting space. The subject property consists of three 3,750 square-foot lots, with the hotel sitting on one lot and the other two lots designated to the hotels outdoor event/wedding space. Currently, guests having an event can rent out the entire property for the day or weekend.

The hotel is located within Downtown Prescott, a historic district recognized by the National Register of Historic Places. The city of Prescott represents Yavapai Countys major metropolitan area. Two significant contributing factors to Yavapai Countys recent and projected economic expansion are a favorable business environment and an excellent quality of life. The Grand Highland Hotel is situated along the main thoroughfare of Downtown Prescott (Highway 89/Montezuma Street) in an area called Whiskey Row, a stretch of street that features several saloons from the Gold Rush era that were rebuilt after being destroyed by a fire in 1900. The hotel is also minutes to attractions including the Sharlot Hall Museum, Buckys Casino, Thumb Butte Recreation Area, Watson Lake, Heritage Park Zoological Area, and the Prescott Fairgrounds, which features the annual Worlds Oldest Rodeo events.

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    Vice President / Regional Manager

    License(s): AZ: BR675146000

    Arizona

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