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Hotel-Motel

Hotel Bixby Scottsdale

409 N Scottsdale Rd, Scottsdale, AZ 85257

Listing Price: $10,995,000

Cap Rate
8.21%
Number of Rooms
80
RevPAR
$88
Gross SF
43,848
Price/Room
$137,438
RRM
4.30
Price/Gross SF
$250.75
Year Built
1978

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the Hotel Bixby Scottsdale, a newly renovated three-story 80-room hotel located 3 miles from Old Town Scottsdale. This asset is ideally located between Old Town Scottsdale/Entertainment District and Tempe/Arizona State University, a large public university known for its athletics programs and research facilities. The hotel benefits from a strong business and leisure market with many demand drivers. Nearby attractions include Casino Arizona, Phoenix Zoo, Salt River Fields, OdySea Aquarium and more. The Scottsdale/Phoenix market is a high-tech manufacturing base, home to operations including Intel, General Dynamics and Honeywell, to name a few. The hotel also benefits from a high employment growth rate in the area.

The Hotel Bixby Scottsdale represents the opportunity to acquire a beautiful recently renovated BW Signature Collection-branded hotel in the desirable Scottsdale market. Our Pro Forma analysis assumes an investor will increase operating efficiencies through cost management and modest revenue growth. In addition, we assume a well qualified operator will be able to achieve 100%+ of its revenue index now that the heavy lifting of the quality renovations have been completed. The buyer will also have the ability to upbrand the hotel to a Best Western Aiden hotel, Best Westerns upscale soft brand.

Investment Highlights

  • Recently Renovated in 2019
  • Nearby Attractions: Casino Arizona, Phoenix Zoo, Salt River Fields & OdySea Aquarium
  • Minutes to Old Town Scottsdale and Several MLB Spring Training Venues
  • 1 Mile to Arizona State University Tempe | 55k+ Campus Enrollment
  • 3 Miles to Tempe St. Luke's Hospital & HonorHealth Scottsdale Osborn Medical Center
  • 4 Miles to Phoenix Sky Harbor International Airport | 46M+ Passengers in 2019

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s) AZ: BR675146000

    Arizona

Listing Price: $10,995,000

Cap Rate
8.21%
Number of Rooms
80
RevPAR
$88
Gross SF
43,848
Price/Room
$137,438
RRM
4.30
Price/Gross SF
$250.75
Year Built
1978

Investment Highlights

  • Recently Renovated in 2019
  • Nearby Attractions: Casino Arizona, Phoenix Zoo, Salt River Fields & OdySea Aquarium
  • Minutes to Old Town Scottsdale and Several MLB Spring Training Venues
  • 1 Mile to Arizona State University Tempe | 55k+ Campus Enrollment
  • 3 Miles to Tempe St. Luke's Hospital & HonorHealth Scottsdale Osborn Medical Center
  • 4 Miles to Phoenix Sky Harbor International Airport | 46M+ Passengers in 2019

Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the Hotel Bixby Scottsdale, a newly renovated three-story 80-room hotel located 3 miles from Old Town Scottsdale. This asset is ideally located between Old Town Scottsdale/Entertainment District and Tempe/Arizona State University, a large public university known for its athletics programs and research facilities. The hotel benefits from a strong business and leisure market with many demand drivers. Nearby attractions include Casino Arizona, Phoenix Zoo, Salt River Fields, OdySea Aquarium and more. The Scottsdale/Phoenix market is a high-tech manufacturing base, home to operations including Intel, General Dynamics and Honeywell, to name a few. The hotel also benefits from a high employment growth rate in the area.

The Hotel Bixby Scottsdale represents the opportunity to acquire a beautiful recently renovated BW Signature Collection-branded hotel in the desirable Scottsdale market. Our Pro Forma analysis assumes an investor will increase operating efficiencies through cost management and modest revenue growth. In addition, we assume a well qualified operator will be able to achieve 100%+ of its revenue index now that the heavy lifting of the quality renovations have been completed. The buyer will also have the ability to upbrand the hotel to a Best Western Aiden hotel, Best Westerns upscale soft brand.

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s): AZ: BR675146000

    Arizona

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