12800 N Saguaro Boulevard, Fountain Hills, AZ 85268 (MLS# 5905710)

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
Country: US
County Code: Maricopa
Subdivision: FOUNTAIN HILLS ARIZONA FP NO 208 BLK 7 REPLAT
Assessor Number: 176-25-560
Tax Year: 2018

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 $/%: %

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

12800 N Saguaro Boulevard, Fountain Hills, AZ 85268 (MLS# 5905710)