2735 Sweetwater AvePhoenix, AZ 85029

  • Office properties
  • 2,377 SF
For Sale
$7,500,000 View listing

Property Details for 2735 Sweetwater Ave

Year built
1974
Construction
CONCRETE
Lot size
2.76 AC
Property size (Sq ft)
2,377 SF
Zone code
C-1
Property type
Office properties
Property subtype
Office buildings
APN
149-21-014E
APU
14921014E

Description

This exceptional 128-key dual-branded hotel, the Rodeway Inn & Econo Lodge Phoenix North I-17, presents a compelling investment opportunity in the thriving Phoenix market. Boasting 41,450 square feet on a 1.76-acre lot, this two-story property underwent renovations in 2019 and offers a range of amenities including an outdoor pool, business center, complimentary breakfast buffet, and guest laundry facilities. The hotel's prime location off Interstate 17 in the North Mountain Village area, with daily traffic exceeding 40,000 vehicles, ensures high visibility and accessibility. Its proximity to major attractions like the Martin Auto Museum, Turf Paradise, and Firebird Balloons, as well as Downtown Phoenix and Phoenix Sky Harbor International Airport (within a 15-20 minute drive), further enhances its appeal. The property's strong financial performance is highlighted by a Net Operating Income (NOI) of $1,090,464 and an attractive 13.70% capitalization rate. Built in 1974, the property offers a potential for significant value enhancement through a Wyndham conversion, with estimates of up to $4,000 per key. The hotel benefits from its location near the $800 million Metro Center redevelopment project and capitalizes on Arizona's robust tourism sector, which saw over 19 million visitors in 2023, generating a $4.5 billion economic impact. This is a fee-simple ownership opportunity with an asking price of $7,500,000 and a price per square foot of $180.94. The property's APN is 149-21-014E.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $388,140
    6.5%
    $358,283
    7%
    $332,691
  • Comparable approach

    Method
    Valuation
    Relative Method
    $366,415
    Geo Method
    $366,415
  • Alternative Use

    Use
    Valuation
    Residential
    $444,271
    Hospitality
    $406,950
    Educational
    $338,577
    Medical
    $350,222
    Retail
    $526,676
2735 Sweetwater Ave, Phoenix, Arizona

Location Insight

City
Phoenix
County
Maricopa
State
Arizona
Latitude
33.603
Longitude
-112.118
CBSA code
38060
CBSA name
PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$52,128
-
-
$757,512
-
$1,615,600
$2,975,382
$4,590,982

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].