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Key Details
Sold Price $765,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 6299332
Sold Date 12/17/21
Year Built 1948
Annual Tax Amount $3,885
Tax Year 2021
Lot Size 2.479 Acres
Acres 2.48
Source Arizona Regional Multiple Listing Service (ARMLS)
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.
Location
State AZ
County Navajo
Area Navajo
Zoning Commercial
Direction Business Route 66 to Navajo Left to Motel/Restaurant on the North Side of the Street at Mission Lane.
Interior
Heating Electric
Cooling Central Air
Flooring Carpet
Exterior
Parking Features Paved, Private, Free
Fence None
Amenities Available Reception Room
Roof Type Built-Up
Private Pool No
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Others
Senior Community No
Tax ID 109-24-005-A
Disclosures Seller Prop Disc Stm
Financing Carryback
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