2101 Navajo BlvdHolbrook, AZ 86025

Property Details for 2101 Navajo Blvd

Year built

1948

Lot size

2.64 AC

Property type

Hospitality properties

Property subtype

Motels

Description

This exceptional redevelopment opportunity presents a 35-key motel in Holbrook, Arizona, situated on a 2.64-acre lot (APN: 109-24-005A). The property, built in 1948 and consisting of two single-story buildings, is zoned commercial and offers significant upside potential. Currently operating as an independent motel, it requires complete renovation. However, a strong pro-forma NOI of $260,061 projects a compelling 23.64% cap rate at the asking price of $1,100,000. The property's location on Navajo Blvd in Holbrook, AZ 86025, provides easy access to Interstate 40, placing it strategically along a major travel corridor. Holbrook's proximity to the White Mountains and national parks like the Petrified Forest and Painted Desert ensures a consistent stream of tourists. The city's economic activity is further bolstered by the nearby West Camp Wind Farm. Post-pandemic, the Holbrook hotel market has shown resilience, with gross revenues matching or exceeding 2019 levels, indicating a robust and growing tourism sector. This presents a unique chance to capitalize on the area's tourism and the motel's redevelopment potential. A sophisticated valuation approach, utilizing Gross Rent Multiplier (GRM) and Price Per Key metrics specific to the Holbrook market, supports the asking price. This is an ideal investment for those seeking a high-return redevelopment project in a thriving tourist destination.

Location Insight

City

Holbrook

County

Navajo

State

Arizona

Latitude

34.9244

Longitude

-110.146

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