1405 WestwoodMesa, AZ 85210

  • Hospitality properties
  • 31,206 SF
For Sale

Property Details for 1405 Westwood

Year built
1996
Construction
CONCRETE
Lot size
1.31 AC
Property size (Sq ft)
31,206 SF
Zone code
C-G
Property type
Hospitality properties
Property subtype
Hotels
APN
134-23-020B
APU
13423020B

Description

This fee-simple ownership opportunity presents a 64-key Holiday Inn Express hotel in Mesa, Arizona. The property, situated on a 57,008 square foot lot (approximately 1.3 acres), boasts 31,206 square feet of space across three stories. Built in 1996 and completely renovated in 2023, this interior-corridor hotel benefits from a strong pro-forma NOI of $721,105. Located at 1405 S Westwood, Mesa, AZ 85210, the hotel is conveniently situated near US Highway 60 and within walking distance of the Fiesta Mall redevelopment project. The property's location provides access to a diverse range of demand generators, including business travelers, educational institutions, medical facilities, and tourism attractions. The Phoenix-Mesa metro area, one of the fastest-growing in the US, offers a significant population base of nearly 5 million residents. The recent renovation, completed in January 2023, included a Formula Blue PIP, minimizing the need for future capital improvements and maximizing potential for value appreciation. The hotel previously operated under different brands (Fairfield Inn and GreenTree Inn) before its current iteration as a Holiday Inn Express. The property is zoned C-3 and offers significant upside potential for new ownership. This is a rare opportunity to acquire a well-positioned, recently renovated hotel in a thriving market.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $10,514,484
    6.5%
    $9,705,678
    7%
    $9,012,415
  • Comparable approach

    Method
    Valuation
    Relative Method
    $15,422,445
    Geo Method
    $15,422,445
  • Alternative Use

    Use
    Valuation
    Residential
    $10,595,780
    Hospitality
    $9,705,678
    Educational
    $8,075,010
    Medical
    $8,352,722
    Retail
    $12,561,127
1405 Westwood, Mesa, Arizona

Location Insight

City
Mesa
County
Maricopa
State
Arizona
Latitude
33.3894
Longitude
-111.852
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
$53,550
-
-
$752,789
-
$712,300
$3,850,055
$4,562,355

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