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Home > 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

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

More Information MLS# 5905710

Contract Info

Current Price: $7,645,000 Sold Price: $7,645,000 Status: Closed List Date: 2019-03-04 Ownership: Other (See Remarks)

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

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. Geo Lat: 33.602415 Geo Lon: -111.716627

Status Change Info

Status Change Date: 2019-08-19 Off Market Date: 2019-08-19 Under Contract Date: 2019-05-10 Close of Escrow Date: 2019-08-15 Sold Price: $7,645,000

Legal Info

Township: 3N Range: 6E Section: 14 Lot Number: 4

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) Current Use: Restaurant; Other; See Remarks Stories: 3 - 4 Stories Construction: Other (See Remarks) Roofing: Other (See Remarks) 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: Other (See Remarks) Fencing: Other; See Remarks Parking: Other (See Remarks) Electric: Other (See Remarks) Gas: Other (See Remarks) Water: Other; See Remarks Sewer: Other (See Remarks) New Financing: Other (See Remarks) Lockbox Type: None Source of Fincl Data: Provided by Owner; Provided by Accntnt Existing 1st Loan: Other (See Rmks) Existing 1st Ln Type: Not Applicable Existing 1st Ln Trms: Not Applicable Existing 2nd Loan: Other (See Remarks) Existing 2nd Ln Type: Not Applicable Existing 2nd Ln Trms: Not Applicable Existing 3rd Loan: Other (See Remarks) Existing 3rd Ln Type: Not Applicable Existing 3rd Ln Trms: 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
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