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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
Waterfront No
Roof Type Built-Up
Present Use Restaurant, Service Business
Total Parking Spaces 50
Building
Sewer Public Sewer
Water City Franchise
Others
Senior Community No
Tax ID 109-24-005-A
Financing Carryback
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