438 S 3rd Ave - Hospitality FOR SALE


Tucson, AZ 85701- Armory Park
$2,750,000 USD
802-380-7312
438 S 3rd Ave, Tucson, AZ for Sale
$2,750,000 USD
Hospitality - FOR SALE
1/13
null | Request Cap Rate

438 S 3rd Ave
Tucson, AZ 85701
Armory Park


OVERVIEW

The Armory Park Inn is one of the American Southwest’s most compelling boutique hospitality assets — a Select Registry member and TripAdvisor Travelers’ Choice award winner housed in a pre-railroad era Sonoran adobe building said to have served as a stagecoach stop en route to the Presidio. Built in 1875, the property’s 22-inch thick adobe walls, 18-foot ceilings adorned with saguaro rib and wooden vigas, and zaguan-style entryway form an irreplaceable physical platform in Tucson’s architecturally intact Armory Park Historic Residential District. The Inn’s nine income-producing accommodations span seven individually appointed guest rooms across two floors and in the form of two standalone cottages, one of which (Blue Door Adobe) is currently rented solely as a short term vacation rental (Airbnb). The property’s current owner has made significant improvements across all assets since acquiring them in 2018, with renovations focused on material upgrades to the guest experience: private marble bathrooms with custom vanities and rainfall shower systems, Frette bed linens, Los Poblanos bath amenities, and a curated amenity set that includes complimentary cruiser bikes, a Peloton and Woodway fitness suite, and an outdoor stone fire pit beneath Tucson’s desert sky. What truly distinguishes the Armory Park Inn in its competitive set is its programming. A complimentary locally sourced gourmet breakfast and the daily “Armory Hour” — hosted beer, wine, and refreshments each evening — create a community and loyalty among guests that no branded competitor can replicate at any price point. These two included daily experiences anchor the Inn’s premium rate positioning and drive the repeat visitation that underpins occupancy stability. From a location standpoint, the asset is exceptionally well-positioned. The Tucson Convention Center, Fox Theatre, and Rialto Theatre are steps away. The Congress Street entertainment corridor, Armory Park’s own neighborhood restaurants, and the Sun Link streetcar — connecting Downtown, 4th Avenue, and the University of Arizona — are all within easy reach. The University of Arizona, approximately one mile away, provides consistent year-round demand from academic, medical, research, and athletics segments that most comparably sized inns simply cannot access. And every February, the Tucson Gem, Mineral and Fossil Showcase — one of the world’s largest annual trade events — delivers a concentrated high-rate demand window unlike anything in comparable markets.

FOR SALE DETAILS

PRICE

$2,750,000 USD

PRICE/SF

$362 USD /SF

# OF ROOMS

9

PRICE/ROOM

$305,556 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

-

YEAR BUILT

1875

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

117-07-012A

ASK ABOUT THIS PROPERTY

Eben ViensThe B&B Team®More Info
802-380-7312

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Eben ViensThe B&B Team®More Info
802-380-7312

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.