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1615 E Northern Avenue - Best Western InnSuites, Phoenix, AZ

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1615 E Northern Avenue - Best Western InnSuites

Phoenix, AZ 85020-3932 - Piestewa Peak Corridor Submarket

Property Type:Hospitality Number of Rooms:111 Status:Existing Year Built:1980
Stories:2 Building Size:41,760 SF Land Area:2.98 AC (129,809 SF)
For Sale Price:$9,600,000 Price/Room:$86,486 Cap Rate:9.00 %


The Best Western Inn Suites is located in the Squaw Peak Mountain
Preserve, close to the prestigious Biltmore area and near corporate
centers, sporting and concert venues and other local attractions in
the Phoenix area.

Sale Notes:
Colliers International is pleased to have been chosen for the disposition of the fee-simple interest in the 111-room, steel and concrete constructed Best Western Phoenix InnSuites Hotel. Conveniently located 200 ft. off of Arizona's central thoroughfare, Highway 51, the Property is strategically placed on the edge of Paradise Valley, enjoys excellent access to the airport and is within a short drive of all of the areas many recreational activities.

With no land to build in the immediate area, this Best Western Phoenix InnSuites is permanently slated as the closest Best Western hotel to the Best Western International HQ. This placement offsets the slow season for the subject property with a plethora of business from Best Western vendors, franchisees, trainees, and any Best Western cooperate employees that fly in from around the country during Phoenix's off season. Other cooperate guest who stay at Best Western include but are not limited to the American Express, IRS and Southwest Gas.

Investment Highlights

· Extreme Proximity to Best Western HQ provides direct business from Best Western corporate office
· 10 Minutes from the Sky Harbor International Airport
· Compset has RevPAR Growth of 25% YOY
· 83.2% Occupancy presents major cushion for upside in ADR growth The STR report indicates comps in the immediate area have increased 25% in RevPAR, 7.9% in occupancy even with the intense pressure of a 15.1% increase in ADR.

A new owner will have an opportunity to continue to grow ADR with the current 83.2% occupancy cushion. This is your chance to obtain a market leader in one of Phoenix's explosive RevPAR, ADR and Occupancy growth centers.

Colliers International
James I Meng
(602) 222-5000

Jon Grantham
(602) 222-5000

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