12800 N Saguaro Boulevard, Fountain Hills, AZ 85268
$7,645,000
Property Type:
Comm/Industry Sale
Square Footage:
67,953
Lot Size (sq. ft.):
140,062
Status:
Closed
Current Price:
$7,645,000
List Date:
4/03/2019
Last Modified:
8/06/2021
Overview
Description
Sperry Commercial is pleased to present for sale the well-located and impeccably well-maintained LakeShore Hotel & Suites, a 104 room full service hotel located in the heart of Fountain Hills, AZ. Originally built as a Holiday Inn and converted to a Lexington Hotel in January, 2014, the property is presently named Lakeshore Hotel & Suites and is unencumbered by any franchise agreements. Listed at a price of $8,500,000, with an existing Credit Union loan of +/-$4,500,000. This loan may be paid off at close of escrow subject to a small prepayment penalty (see Listing Broker for details regarding this financing). *Minimal Competition in Area
*Originally Built to Holiday Inn Specifications in 2005 *Not Burdened by Current Franchise Agreement *Situated On 3 Acres of Prime Downtown Land
Listing Details MLS# 5905710
Location, Tax & Legal
- Map Code/Grid
- L41
- House Number
- 12800
- Compass
- N
- Street Name
- Saguaro
- St Suffix
- Boulevard
- City/Town Code
- Fountain Hills
- State/Province
- AZ
- Zip Code
- 85268
- County Code
- Maricopa
- Subdivision
- FOUNTAIN HILLS ARIZONA FP NO 208 BLK 7 REPLAT
- Assessor Number
- 176-25-560
- Tax Year
- 2018
- Assessor's Map #
- 25
- Legal Description (Abbrev)
- LOT 4 FOUNTAIN HILLS ARIZONA FP NO 208 BLK 7 REPLAT MCR 061549
- Assessor's Parcel #
- 560
- Add'l Parcels
- No
- Tax Municipality
- Fountain Hills
- Census Tract
- 216818
- Taxes
- 84995
- Legal
- LOT 4 FOUNTAIN HILLS ARIZONA FP NO 208 BLK 7 REPLAT MCR 061549
- Marketing Name
- Lakeshore Hotel & Suites
Contract Info
- Ownership
- Other (See Remarks)
General Property Description
- Ttl Apx SqFt Bldg
- 67953
- # of Buildings
- 2
- Year Built
- 2005
- Uncvrd Parking Spcs
- 100
- Zoning
- C-2
Remarks Misc
- Directions
- Lakeshore Hotel & Suites is located approximately 25 miles northeast of Central Phoenix, 19 miles northeast of Old Town Scottsdale, and 10 miles due east of Shea Blvd. and the Loop 101 Freeway.
Status Change Info
- Off Market Date
- 2019-08-19
- Under Contract Date
- 2019-05-10
- Close of Escrow Date
- 2019-08-15
Legal Info
- Township
- 3N
- Range
- 6E
- Section
- 14
- Lot Number
- 4
More Information
Sold Info
- Loan Type
- Conventional
- Payment Type
- Other
- Clsing Cost Split
- Normal - N
- Buyer Concession $/%
- %
- Seller Concession $/%
- %
- Buyer Concession to Seller
- 0
- Seller Concession to Buyer
- 0
Construction
- Other
- Yes
Roofing
- Other
- Yes
Floors
- Other
- Yes
Income & Expenses
- Annual Elec Exp
- 0
- Annual Gas Exp
- 0
- Annual Ins Exp
- 0
- Annual Land Lse Exp
- 0
- Annual Landscape Exp
- 0
- Annual Legal & Acctg
- 0
- Annual Maint Exp
- 0
- Annual Mgmt Exp
- 0
- Annual Trash Exp
- 0
- Annual Wtr/Swr Exp
- 0
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Annual PAD Fee
- 0
- Annual Rplcmnt Rsrvs
- 0
- Annual Other Expense
- 0
- Operating Exp
- 84995
- Other Income
- 0
- Vacancy Allowance
- 0
- Adjusted Gross Inc
- 0
Building Type
- Commercial
- Yes
- Other (See Remarks)
- Yes
Business Type
- Restaurant
- Yes
- Other
- Yes
- See Remarks
- Yes
Stories
- 3 - 4 Stories
- Yes
Pmt & Rate Info
- Down Payment
- 0
- Equity
- 8500000
- Total Owed
- 0
- Assessment Balance
- 0
Lockbox Type
- None
- Yes
Ceiling Height
- 8.1 Feet to 10 Feet
- Yes
- 10.1 Feet to 12 Feet
- Yes
Heating
- Other
- Yes
- See Remarks
- Yes
Cooling
- Other
- Yes
- See Remarks
- Yes
Interior Features
- Other (See Remarks)
- Yes
Loading Facilities
- Other (See Remarks)
- Yes
Source of Fincl Data
- Owner
- Yes
- Accountant
- Yes
Fencing
- Other
- Yes
- See Remarks
- Yes
Water Source
- Other
- Yes
- See Remarks
- Yes
Sewer
- Other
- Yes
Parking Features
- Other
- Yes
Electric
- Other (See Remarks)
- Yes
Gas
- Other (See Remarks)
- Yes
New Financing
- Other (See Remarks)
- Yes
Existing 1st Loan
- Other (See Rmks)
- Yes
Existing 1st Loan Type
- Not Applicable
- Yes
Existing 1st Loan Terms
- Not Applicable
- Yes
Existing 2nd Loan
- Other (See Remarks)
- Yes
Existing 2nd Loan Type
- Not Applicable
- Yes
Existing 2nd Loan Terms
- Not Applicable
- Yes
Existing 3rd Loan
- Other (See Remarks)
- Yes
Existing 3rd Loan Type
- Not Applicable
- Yes
Reports/Disclosures
- Other (See Remarks)
- Yes
Existing 3rd Loan Terms
- Not Applicable
- Yes
Environmental
- Other (See Remarks)
- Yes
Existing Othr Ln Trm
- Not Applicable
- Yes
Property Features
Building Type:
Commercial; Other (See Remarks)
Business Type:
Restaurant; Other; See Remarks
Stories:
3 - 4 Stories
Construction:
Other
Roofing:
Other
Floors:
Other
Ceiling Height:
8.1 Feet to 10 Feet; 10.1 Feet to 12 Feet
Heating:
Other; See Remarks
Cooling:
Other; See Remarks
Loading Facilities:
Other (See Remarks)
Interior Features:
Other (See Remarks)
Fencing:
Other; See Remarks
Parking Features:
Other
Electric:
Other (See Remarks)
Gas:
Other (See Remarks)
Water Source:
Other; See Remarks
Sewer:
Other
New Financing:
Other (See Remarks)
Lockbox Type:
None
Source of Fincl Data:
Owner; Accountant
Existing 1st Loan:
Other (See Rmks)
Existing 1st Loan Type:
Not Applicable
Existing 1st Loan Terms:
Not Applicable
Existing 2nd Loan:
Other (See Remarks)
Existing 2nd Loan Type:
Not Applicable
Existing 2nd Loan Terms:
Not Applicable
Existing 3rd Loan:
Other (See Remarks)
Existing 3rd Loan Type:
Not Applicable
Existing 3rd Loan Terms:
Not Applicable
Existing Othr Ln Trm:
Not Applicable
Environmental:
Other (See Remarks)
Listing Office:
Sperry Commercial
Last Updated: August - 06 - 2021
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