for sale
Lender Owned Asset
1631 Arizona 92 | Sierra Vista, AZ 85635
Investment Highlights
- Offered at less than $20k/key
- Stalled 91 room hotel to apartment conversion project
- Project in multiple stages of construction
- Distressed asset (lender owned)
- Option to complete as a dual brand hotel or apartment
- Multifamily zoning in place
Property Description
NewGen Advisory is proud to present for sale, the fee simple interest of the former Quality Inn in Sierra Vista, Arizona. Located 90 minutes south of Tucson, this asset is situated in the center of town with multiple demand generators.
Sold in 2022 to an apartment developer, the hotel was closed down and underwent a substantial renovation to convert all of the rooms to studio and 1 bedroom apartments. Due to rising interest rates and general contractor delays, the developer was forced to forfeit the property to the lender.
The hotel is in different phases of redevelopment, and with an estimated $2,600,000 worth of capital expenditures required to bring the hotel to like new condition. Given that the hotel is designed to have 16 of the 91 rooms as extended stay rooms, this project is an ideal dual brand hotel opportunity. We have multiple brands who are interested. Please contact us for franchise referrals.
Location Description
Discover the vibrant community surrounding the location in Sierra Vista, AZ, 85635. Situated in the heart of the city, the area offers convenient access to a variety of amenities and attractions. Enjoy the picturesque views of the nearby Huachuca Mountains while exploring the local parks and trails. Nearby, you’ll find Fort Huachuca, a historic U.S. Army post, and the engaging exhibits of the Fort Huachuca Museum. Indulge in delicious dining options and experience the welcoming hospitality of the Sierra Vista community. With its blend of natural beauty and urban conveniences, the area presents an ideal setting for your office or office building.
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Click the “Complete Confidentiality Agreement” button below to access the due diligence files. After you submit the CA form, you will receive an automated email with links to the due diligence files and offering memorandum.
Ryan Bodine
Senior Vice President
AZ #BR661940000
(480) 236-9918
ryan.bodine@newgenadv.com
Jigar “Jay” Desai
Senior Vice President
AZ #SA675144000
(520) 664-4091
jigar.desai@newgenadv.com
BROKER OF RECORD
Dinesh “Dan” Rama
NewGen Advisory AZ, LLC
AZ #BR515223000