$765,000
Holbrook, AZ 86025
MLS# 6299332
Status: Closed
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Property Description
Nostalgic Throwback to Yesteryear. 35-Room Motel/Mexican Restaurant on Historic Route 66 in Holbrook, AZ. 4.5 Star Rating on Google. Profitable. Motel Generated Approximately $255,000 in Gross Revenues over the past (12) Months. Net Income was a little over $167,000 Last Year. 23 CAP. Over the top! Restaurant Operator Pays $17,220 Per Year in Rent which is going up to $2,000/Mo. shortly. Facilities Passed Recent Inspection. Roof Recently Repaired. Mattresses Replaced as Needed. Most Rooms have New Flat Screen TV's. 2.479 Acre Site. Room for Expansion. Seller may Carry Back with 50% Down at 5.75% Simple Interest over 1 2-Year Term. Buyer Must Visit Property Prior to an Offer being Considered. No Wholesalers. Recent Profit/Loss Statement Available via NDA.
Details
Maps
Contract Info
Current Price: $765,000
Sold Price: $765,000
Status: Closed
List Date: 2021-09-27
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: C72
House Number: 2105
Street Name: NAVAJO
St Suffix: Boulevard
City/Town Code: Holbrook
State/Province: AZ
Zip Code: 86025
Zip4: 1822
Country: USA
County Code: Navajo
Legal Description (Abbrev): SECTION 29,T18N,R21E: BEG SW COR;TH N0DG2'7 W 197.41'TPOB; TH N39 DG44'12 E 555.52';TH N50DG15'48 W
Assessor's Map #: 24
Assessor's Parcel #: 5
Assessor Parcel Ltr: A
Add'l Parcels: No
Assessor Number: 109-24-005-A
Census Tract: 960100
Legal: SECTION 29,T18N,R21E: BEG SW COR;TH N0DG2'7 W 197.41'TPOB; TH N39 DG44'12 E 555.52';TH N50DG15'48 W
Tax Municipality: Holbrook
Taxes: 3885
Tax Year: 2021
Marketing Name: 66 Motel
General Property Description
Type of Property: Motel & Restaurant
Ttl Apx SqFt Bldg: 15014
# of Buildings: 3
Year Built: 1948
Volts/Amps: 110/220
Uncvrd Parking Spcs: 50
Zoning: Commercial
Flood Zone: Yes
Remarks & Misc
Cross Street: Interstate 40 & Business 66
Directions: Business Route 66 to Navajo Left to Motel/Restaurant on the North Side of the Street at Mission Lane.
Geo Lat: 34.925325
Geo Lon: -110.145647
Status Change Info
Status Change Date: 2021-12-18
Off Market Date: 2021-12-01
Under Contract Date: 2021-12-01
Close of Escrow Date: 2021-12-17
Sold Price: $765,000
Legal Info
Township: 18N
Range: 21E
Section: 29
Income & Expenses
Owner Association: No
Annual Other Expense: 50000
Operating Exp: 53885
Gross Annual Sch Inc: 237000
Other Income: 17220
Adjusted Gross Inc: 254220
Net Operating Income: 200000
Pmt & Rate Info
Cap Rate: 26.14
Equity: 765000
Contact Info
List Agent Home Phn: 480-600-6001
Sold Info
Loan Type: Carryback
Loan Years: 2
Payment Type: Interest Only
Clsing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Building Type: Commercial; Office
Current Use: Service Business; Restaurant; See Remarks
Stories: 1 Story
Construction: Frame - Wood
Roofing: Built-Up
Floors: Concrete; Ceramic Tile; Carpet
Ceiling Height: 8 Feet or Less
Cooling: Central A/C
Loading Facilities: None
Interior: Finished; Fire Sprinklers; Smoke Detector(s); Security Light(s); Alarm System; Private Restrooms
Exterior: Corner Lot; Roof Sign; Building Sign; Security Light(s)
Fencing: None
Amenities: Reception Room
Parking: Free; Private Parking; Paved Parking
Electric: APS
Gas: None
Water: City Franchise
Sewer: Sewer - Public
Freeway/Highway: Up to 1 Mile
Showing Notification Methods: Text
Lockbox Type: None
Special: Incorporated Area
Source of Fincl Data: Provided by Owner
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
Roads/Streets: Gravel; Asphalt
Traffic Count: Unknown
Reports/Disclosures: Seller Prop Disc Stm
Use Restrictions: Existing Easement(s)
Environmental: None
Listing Office: Valley of the Sun Real Estate
Last Updated: September - 01 - 2023
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