$765,000
$765,000
For more information regarding the value of a property, please contact us for a free consultation.
2.48 Acres Lot
SOLD DATE : 12/17/2021
Key Details
Sold Price $765,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 6299332
Sold Date 12/17/21
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1948
Annual Tax Amount $3,885
Tax Year 2021
Lot Size 2.479 Acres
Acres 2.48
Property Description
Nostalgic Throwback to Yesteryear. 35-Room Motel/Mexican Restaurant on Historic Route 66 in Holbrook, AZ. 4.5 Star Rating on Google. Profitable. Motel Generated Approximately $255,000 in Gross Revenues over the past (12) Months. Net Income was a little over $167,000 Last Year. 23 CAP. Over the top! Restaurant Operator Pays $17,220 Per Year in Rent which is going up to $2,000/Mo. shortly. Facilities Passed Recent Inspection. Roof Recently Repaired. Mattresses Replaced as Needed. Most Rooms have New Flat Screen TV's. 2.479 Acre Site. Room for Expansion. Seller may Carry Back with 50% Down at 5.75% Simple Interest over 1 2-Year Term. Buyer Must Visit Property Prior to an Offer being Considered. No Wholesalers. Recent Profit/Loss Statement Available via NDA.
Location
State AZ
County Navajo
Zoning Commercial
Direction Business Route 66 to Navajo Left to Motel/Restaurant on the North Side of the Street at Mission Lane.
Interior
Heating Electric
Cooling Central A/C
Flooring Carpet, Ceramic Tile, Concrete
Exterior
Garage Paved Parking, Private Parking, Free
Fence None
Roof Type Built-Up
Present Use Restaurant, Service Business
Total Parking Spaces 50
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Others
Senior Community No
Tax ID 109-24-005-A
Financing Carryback
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved.
Bought with Valley of the Sun Real Estate
GET MORE INFORMATION
Mortgage Loan Originator & Realtor | License ID: SA709955000 NMLS# 1418692