573 Wickenburg WayWickenburg, AZ 85390

Property Details for 573 Wickenburg Way

Year built

1936

Construction

CONCRETE

Lot size

0.47 AC

Property size (Sq ft)

3,240 SF

Zone code

C-G

Property type

Motels

APN

505-30-088

APU

50530088

Description

This exceptional 14-key motel in Wickenburg, Arizona, presents a compelling investment opportunity. The property, boasting 4,374 square feet on a 20,473 square foot lot, features two single-story buildings and offers 20 parking spaces. Completely renovated in 2020, following a 2021 fire that destroyed one building, the motel now features brand new electrical systems, roofing, and plumbing. The property enjoys a consistently high occupancy rate, generating a strong Net Operating Income (NOI) of $188,069, resulting in a 7.85% cap rate. The asking price is $2,395,000, translating to $547.55 per square foot and $171,071.43 per key. Built in 1936, this fee-simple property is zoned C-3 (Major Street Commercial) and offers 18 beds. Its prime location near Old Town Wickenburg ensures high demand, particularly for weekly rentals, driven by the town's robust economy. This turnkey operation provides immediate returns and significant long-term growth potential within a thriving community. Seller carry financing is possible.

• CAP approach

  CAP return

  Valuation

  6%

  $589,969

  6.5%

  $544,587

  7%

  $505,688

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,173,698

  Geo Method

  $1,173,698

• Alternative Use

  Use

  Valuation

  Residential

  $594,531

  Hospitality

  $544,587

  Educational

  $453,090

  Medical

  $468,673

  Retail

  $704,807

Location Insight

City

Wickenburg

County

Maricopa

State

Arizona

Latitude

33.9661

Longitude

-112.74

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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