For Sale
$7,500,000

0 Perry LnTempe, AZ 85281

Prime Tempe Hotel, NNN Lease, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a four-story, 81,357-square-foot Marriott Hotel in Tempe, Arizona. Situated on a 2.66-acre lot at the intersection of E Rio Salado Pkwy and S Perry Ln, this single-tenant, absolute NNN-leased property boasts a remaining lease term of 95.4 years, commencing August 1, 2021, and expiring March 30, 2120. The asking price is $7,500,000, representing a price per square foot of $92.19 and a 3.53% cap rate with a current NOI of $265,000. The property benefits from its strategic location less than 1.5 miles from Arizona State University, directly across from the Tempe Marketplace, and near Loop 202 and Loop 101 freeways. This location provides exceptional visibility and access to a large and affluent population. The property is part of a larger mixed-use development, further enhancing its value and appeal. The lease includes 2% annual rent increases and zero landlord responsibilities, making this a truly passive income investment. This is a rare opportunity to acquire a high-quality, long-term investment property in a thriving market with strong demographics and significant growth potential. The property's proximity to major transportation arteries, retail centers, and entertainment venues ensures consistent high traffic and visibility. This is an ideal investment for those seeking a stable, long-term, and low-maintenance income stream.

Highlights

  • Ground lease for a brand-new, 99-year Marriott flag hotel.
  • Prime location near Arizona State University, Tempe Marketplace, and the Chicago Cubs spring training facility.
  • Exceptional location on Rio Salado Parkway, easily accessible from Loop 101 and Loop 202.
  • Absolute NNN lease; zero landlord responsibilities, ideal for 1031 exchange.
  • Part of a larger mixed-use development with six freestanding retail buildings.
  • 2.66-acre lot, four-story hotel with 148 rooms and approximately 81,357 square feet.

Property Details for 0 Perry Ln

Property type
Retail properties, Freestanding property
Square Feet
81,357 SF
Stories
4
Lot Size (sq. ft)
115,870 SF

Location Insight

City
Tempe
County
Maricopa
State
Arizona
Latitude
33.429184
Longitude
-111.9047344
Perry Ln, Tempe, Arizona

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0 Perry Ln
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