Mesa, Arizona, with a population of around 490,000, offers a unique opportunity for investors to capitalize on the city's growing hospitality industry. Hotels in Mesa for sale present an attractive investment option, given the city's strategic location and amenities. Mesa's hotels cater to a diverse range of visitors, from business travelers attending conferences at the Mesa Convention Center to tourists exploring the city's rich cultural heritage. With its proximity to Phoenix and the surrounding East Valley, Mesa's hotels benefit from a steady stream of visitors throughout the year. The city's infrastructure, including the Phoenix–Mesa Gateway Airport, Falcon Field, and Williams Field, ensures easy accessibility for travelers. Additionally, Mesa's educational institutions, such as Arizona State University Polytechnic Campus and Mesa Community College, attract visitors from across the country. The city's amenities, including Red Mountain Park, Mesa Arts Center, and the I.d.e.a. Museum, provide a unique blend of entertainment, culture, and outdoor activities, making it an attractive destination for tourists. Overall, Mesa's hotels offer a lucrative investment opportunity, with the potential for strong returns and long-term growth.
Mesa's hotels are part of a larger commercial real estate landscape that includes 1 listings available for sale. The city's average price per square foot for hotels is $186 USD, with an average size of 40,408 square feet. The largest hotel property available for sale spans 40,408 square feet. With an average cap rate of 3.53%, Mesa's hotels offer a competitive return on investment. In addition to hotels, Mesa's commercial real estate market includes restaurants, apartment buildings, and shopping centers. Restaurants in Mesa, such as Organ Stop Pizza, offer a unique dining experience, while apartment buildings provide a range of housing options for residents. Shopping centers, like the Mesa Riverview, cater to the city's growing retail needs. Overall, Mesa's commercial real estate market presents a diverse range of investment opportunities, with hotels being a key component of the city's economic landscape.
What factors should I consider when buying a hotel in Mesa?
When considering buying a hotel in Mesa, Arizona, there are several key factors to take into account, including:
- The current market conditions, with 1 available listings of hotels, an average price per square foot of $186 USD, and an average size of 40,408 square feet, as well as a largest size of 40,408 square feet.
- The local economy, which is driven by industries such as aerospace, tourism, education, healthcare, and agriculture, and is home to major employers like Boeing, Banner Health, and the City of Mesa.
- The city's infrastructure, including the Phoenix–Mesa Gateway Airport, which provides connections to major areas within the United States and internationally, as well as major roads like Lehi Road and Alma School Road.
Additionally, it's essential to research the local amenities, such as Red Mountain Park, Mesa Arts Center, and Golfland Sunsplash waterpark, which can attract visitors and impact the hotel's occupancy rate. Furthermore, understanding the city's demographics, including its population of around 500,000, and its hot desert climate, can also inform your decision. Finally, exploring financing options, such as commercial real estate loans, can help you secure the necessary funds for your hotel purchase.
How is the value of a hotel for sale typically calculated?
In Mesa, Arizona, the value of a hotel for sale is typically calculated through a comprehensive CRE appraisal, which takes into account various factors such as the property's income-generating potential, local market conditions, and the overall condition of the property. To learn more about the CRE appraisal process and how it affects the value of a hotel for sale, check out our article at CRE appraisals.
