Hotels for sale in Tempe, Arizona offer a unique investment opportunity in a city that is home to Arizona State University and a hub for education, commerce, and entertainment. With a population of approximately 180,000, Tempe is an attractive location for hotel investors seeking to capitalize on the city's strong demand for accommodations. Hotels in Tempe can represent a range of investment opportunities, from limited-service properties catering to budget-conscious travelers to full-service hotels offering luxurious amenities and services. The city's infrastructure, including transportation services like Valley Metro Rail and Orbit neighborhood circulator service, freeways, and airports, makes it an ideal location for hotels. Additionally, Tempe's many amenities, such as Tempe Town Lake, Papago Park, and the Tempe Center for the Arts, attract visitors and support the local economy. The presence of major corporations like DriveTime, Carvana, and GoDaddy also contributes to the city's strong business climate, making it an attractive location for hotels.
With 2 hotels for sale in Tempe, investors have a range of options to choose from. The average price per square foot for hotels in Tempe is $289 USD, with an average size of 36,791 square feet. The largest hotel for sale in Tempe spans 40,408 square feet. In addition to hotels, Tempe is also home to a range of other commercial properties, including restaurants, apartment buildings, and shopping centers. Restaurants in Tempe, such as those along Mill Avenue, offer a unique dining experience and attract visitors from across the region. Apartment buildings in Tempe provide housing options for students, professionals, and families, while shopping centers like Arizona Mills and Tempe Marketplace offer a range of retail options. Overall, Tempe's diverse economy and strong demand for accommodations make it an attractive location for hotel investors.
What factors should I consider when buying a hotel in Tempe?
When considering buying a hotel in Tempe, there are several key factors to take into account, including:
- The current market conditions, with 2 available listings of hotels, an average price per square foot of $289 USD, and an average size of 36,791 square feet.
- The location and accessibility of the hotel, with proximity to major transportation hubs like Phoenix Sky Harbor International Airport and Phoenix-Mesa Gateway Airport, as well as the Valley Metro Rail system and major roads like Interstate 10, Loop 202, and Loop 101.
- The local economy and demand for hospitality services, driven by major employers like Arizona State University, DriveTime, Carvana, and GoDaddy, as well as popular attractions like Tempe Town Lake, Papago Park, and the Tempe Center for the Arts.
Additionally, it's essential to consider financing options, such as CRE loans, which can provide the necessary funding for your hotel purchase. For more information on commercial real estate loans, check out our article at CRE loans.
How is the value of a hotel for sale typically calculated?
When it comes to determining the value of a hotel for sale in Tempe, Arizona, investors and buyers often rely on 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 hotel. To learn more about the CRE appraisal process and how it can impact your investment decisions, check out our in-depth article at CRE appraisals.
In Tempe, where there are currently 2 hotel listings available, the value of a hotel for sale is typically calculated by considering factors such as the average price per square foot, which is currently $289 USD per square foot, and the average size of the hotel, which is around 36,791 square feet. Additionally, the average cap rate, which is currently 3.53%, and the largest size of the hotel, which is around 40,408 square feet, are also taken into account.
