Inn Suites Hotel for Sale
Prescott, Arizona
SOLD

This independent hotel and commercial center presents a good opportunity for the experienced operator.

The Hotel is located across from the Prescott Municipal Airport.

The Antelope Hills Inn-Suites operation consists of four steel-structure buildings containing:

• 24 spacious, attractive, well appointed and recently refurbished Hotel rooms
• 10 two-level loft units
• 1 Circle K convenience store on a NN lease
• 1 laundromat operated by the Hotel
• 3 commercial / office rentals
• 1 commercial office used by Hotel Owners (who could continue renting or vacate, whichever Buyer wishes)

CIRCLE K CONVENIENCE MARKET

This NN, fifteen-year lease, approximately ten (10) years old has five (5) years remaining.

Several five-year renewal options are available to Circle K with the rent for the renewal period to be based on current market value. This is the second 5-year renewal and there is one more to go.

Seller has advised that Circle K has indicated that it wants additional renewal options because of the high volume of this location.

Local Attractions:

• Property is located across from Prescott Municipal Airport and Antelope Hills Golf Course
• Embry Riddle Aeronautical University
• Historic downtown Prescott
• Whiskey Row and Courthouse Square
• Across from two restaurants, one on Golf course
• Yavapai College Main Campus
• Prescott College
• Yavapai College Technical Training Facility

Behind the Hotel office, off the lobby, is a studio apartment which could be used as Manager’s living quarters (now used for storage), a small office and the Hotel laundry area.

The suite units are two-level lofts with living room, kitchen, dining area, half-bath and walk-in closet on the first floor and bedroom, full-bath and dressing area on the second floor.

At one end of the building is a beautiful, large 2-bedroom unit with a full kitchen, living room, dining area, family room / den, sun room and half bathroom on the lower level with the master suite (Jacuzzi in the master bath) and second bedroom, bathroom and laundry (1 washer and 1 dryer) on the second level. This could be rented as an additional unit or used as owners/managers living quarters.

ROOM CONFIGURATIONS

24 HOTEL GUEST ROOMS:

• 6 units have one (1) king sized bed
• 17 units have two (2) queen sized beds
• 1 unit has one (1) queen sized bed and a couch 10

APARTMENT SUITE LOFT UNITS:

• 9 units have one (1) queen sized bed
• 1 unit has two (2) twin beds

The full potential of this property has not been realized because of limited marketing efforts. This can and should be corrected by a new Owner.

In addition, it should be noted that the hotel rooms are large enough to convert – if one wanted – to mini-suites.

FINANCING

This property offers a unique financing opportunity as Seller is willing to carry back, with a substantial down payment, at only eight percent (8%) interest for a qualified Buyer.