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

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12800 N Saguaro Boulevard, Fountain Hills, AZ 85268

$7,645,000
Lakeshore Hotel front
lobby lobby2 restaurant interior restaurant2 in suite in suite1 in suite2 in suite3 in suite4 patio patio2 Primary Picture sky view
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)
IDX
Listing Office: Sperry Commercial
Last Updated: August - 06 - 2021
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