0 Perry LnTempe, AZ 85281

Property Details for 0 Perry Ln

Lot size

2.66 AC

Property size (Sq ft)

81,357 SF

Property type

Retail properties

Property subtype

Freestanding property

Description

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.

Location Insight

City

Tempe

County

Maricopa

State

Arizona

Latitude

33.4292

Longitude

-111.905

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